- Module 32.1: Suppose the economy begins in long-run macroeconomic equilibrium. W...
- Module 32.2: Suppose the economy begins in long-run macroeconomic equilibrium. W...
- Module 32.3: A 10% decrease in the money supply will change the aggregate price ...
- Module 32.4: Monetary neutrality means that, in the long run, changes in the mon...
- Module 32.5: A graph of percentage increases in the money supply and average ann...
Solutions for Chapter Module 32: Money, Output, and Prices in the Long Run
Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition
total revenue divided by the quantity sold
a situation in which exports equal imports
the subfield of economics that integrates the insights of psychology
fluctuations in economic activity, such as employment and production
a large and sudden reduction in the demand for assets located in a country
a group of firms acting in unison
a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality
the deviation of unemployment from its natural rate
a banking system in which banks hold only a fraction of deposits as reserves
the study of a company’s accounting statements and future prospects to determine its value
the political philosophy according to which the government should choose policies deemed just, as evaluated by an impartial observer behind a “veil of ignorance”
marginal rate of substitution
the rate at which a consumer is willing to trade one good for another
medium of exchange
an item that buyers give to sellers when they want to purchase goods and services
variables measured in monetary units
a good for which, other things being equal, an increase in
claims that attempt to prescribe how the world should be
total revenue minus total cost
a period of falling output and rising prices
the costs that parties incur in the process of agreeing to and following through on a bargain
government programs that supplement the incomes of the needy