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Solutions for Chapter Module 41: Capital Flows and the Balance of Payments

Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition

ISBN: 9781464122187

Solutions for Chapter Module 41: Capital Flows and the Balance of Payments

Since 5 problems in chapter Module 41: Capital Flows and the Balance of Payments have been answered, more than 8236 students have viewed full step-by-step solutions from this chapter. Chapter Module 41: Capital Flows and the Balance of Payments includes 5 full step-by-step solutions. Krugman's Economics for AP® (High School) was written by and is associated to the ISBN: 9781464122187. This textbook survival guide was created for the textbook: Krugman's Economics for AP® (High School), edition: 2. This expansive textbook survival guide covers the following chapters and their solutions.

Key Business Terms and definitions covered in this textbook
  • club goods

    goods that are excludable but not rival in consumption

  • Coase theorem

    the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own

  • demand curve

    a graph of the relationship between the price of a good and the quantity demanded

  • discrimination

    the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics

  • elasticity

    a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants

  • equilibrium price

    the price that balances quantity supplied and quantity demanded

  • factors of production

    the inputs used to produce goods and services

  • fundamental analysis

    the study of a company’s accounting statements and future prospects to determine its value

  • incentive

    something that induces a person to act

  • inflation

    an increase in the overall level of prices in the economy

  • inflation rate

    the percentage change in the price index from the preceding period

  • marginal product

    the increase in output that arises from an additional unit of input

  • money multiplier

    the amount of money the banking system generates with each dollar of reserves

  • oligopoly

    a market structure in which only a few sellers offer similar or identical products

  • permanent income

    a person’s normal income

  • production function

    the relationship between quantity of inputs used to make a good and the quantity of output of that good

  • public goods

    goods that are neither excludable nor rival in consumption

  • rivalry in consumption

    the property of a good whereby one person’s use diminishes other people’s use

  • union

    a worker association that bargains with employers over wages, benefits, and working conditions

  • variable costs

    costs that vary with the quantity of output produced

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