- Module 33 .1: Explain why a large increase in the money supply causes a larger sh...
- Module 33 .2: Suppose that all wages and prices in an economy are indexed to infl...
- Module 33 .3: The classical model of the price level is most applicable in a. the...
- Module 33 .4: An inflation tax is a. imposed by governments to offset price incre...
- Module 33 .5: Revenue generated by the governments right to print money is known ...
Solutions for Chapter Module 33 : Types of Inflation, Disinflation, and Deflation
Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition
Solutions for Chapter Module 33 : Types of Inflation, Disinflation, and DeflationGet Full Solutions
a visual model of the economy that shows how dollars flow through markets among households and firms
goods that are excludable but not rival in consumption
constant returns to scale
The property whereby long-run average total cost stays the same as the quantity of output changes
the paper bills and coins in the hands of the public
a strategy that is best for a player in a game regardless of the strategies chosen by the other players
the study of how society manages its scarce resources economies of scale the property whereby long-run average total cost falls as the quantity of output increases
economies of scale
the property whereby long-run average total cost falls as the quantity of output increases
input costs that require an outlay of money by the firm
goods produced domestically and sold abroad
the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve
a curve that shows consumption bundles that give the consumer the same level of satisfaction
the total number of workers, including both the employed and the unemployed
the amount of money the banking system generates with each dollar of reserves
the claim that unemployment eventually returns to its normal, or natural, rate, regardless of the rate of inflation
a person’s normal income
the amount of a good that buyers are willing and able to purchase
a tax for which highincome taxpayers pay a smaller fraction of their income than do low-income taxpayers
tax on goods produced abroad and sold domestically
the costs that parties incur in the process of agreeing to and following through on a bargain
a measure of happiness or satisfaction