- 26.1: Quantitatively, how important is international trade to the United ...
- 26.2: Distinguish among land-, labor-, and capital-intensive goods, citin...
- 26.3: Explain: The United States can make certain toys with greater produ...
- 26.4: Suppose Big Country can produce 80 units of X by using all its reso...
- 26.5: What is an export supply curve? What is an import demand curve? How...
- 26.6: Why is a quota more detrimental to an economy than a tariff that re...
- 26.7: The potentially valid arguments for tariff protectionmilitary self-...
- 26.8: Evaluate the effectiveness of artificial trade barriers, such as ta...
- 26.9: In 2013, manufacturing workers in the United States earned average ...
- 26.10: How might protective tariffs reduce both the imports and the export...
- 26.11: Identify and state the significance of each of the following trade-...
- 26.12: What form does trade adjustment assistance take in the United State...
- 26.13: What is offshoring of white-collar service jobs and how does that p...
- 26.14: last word What was the central point that Bastiat was trying to mak...
Solutions for Chapter 26: International Trade
Full solutions for Microeconomics | 21st Edition
total revenue divided by the quantity sold
a group of firms acting in unison
a study that compares the costs and benefits to society of providing a public good
the interest rate on the loans that the Fed makes to banks
a strategy that is best for a player in a game regardless of the strategies chosen by the other players
the setting of the level of government spending and taxation by government policymakers
gross domestic product (GDP)
the market value of all final goods and services produced within a country in a given period of time
a good for which, other things being equal, an increase in income leads to a decrease in demand
an increase in the overall level of prices in the economy
the total number of workers, including both the employed and the unemployed
law of supply and demand
the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balance
marginal rate of substitution
the rate at which a consumer is willing to trade one good for another
marginal tax rate
the amount that taxes increase from an additional dollar of income
natural level of output
the production of goods and services that an economy achieves in the long run when unemployment is at its normal rate
the business practice of selling the same good at different prices to different customers
a tax for which highincome and low-income taxpayers pay the same fraction of income
deposits that banks have received but have not loaned out
an excess of exports over imports
a measure of happiness or satisfaction
government programs that supplement the incomes of the needy