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Textbooks / Business / Personal Financial Literacy 1

Personal Financial Literacy 1st Edition - Solutions by Chapter

Personal Financial Literacy | 1st Edition | ISBN: 9780538444521 | Authors: Joan Ryan

Full solutions for Personal Financial Literacy | 1st Edition

ISBN: 9780538444521

Personal Financial Literacy | 1st Edition | ISBN: 9780538444521 | Authors: Joan Ryan

Personal Financial Literacy | 1st Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 405 Reviews
Textbook: Personal Financial Literacy
Edition: 1
Author: Joan Ryan
ISBN: 9780538444521

This textbook survival guide was created for the textbook: Personal Financial Literacy, edition: 1. Personal Financial Literacy was written by and is associated to the ISBN: 9780538444521. This expansive textbook survival guide covers the following chapters: 46. Since problems from 46 chapters in Personal Financial Literacy have been answered, more than 7991 students have viewed full step-by-step answer. The full step-by-step solution to problem in Personal Financial Literacy were answered by , our top Business solution expert on 03/16/18, 04:07PM.

Key Business Terms and definitions covered in this textbook
  • ability-to-pay principle

    the idea that taxes should be levied on a person according to how well that person can shoulder the burden

  • aggregate-demand curve

    a curve that shows the quantity of goods and services that households, firms, the government, and customers abroad want to buy at each price level

  • average tax rate

    total taxes paid divided by total income

  • average total cost

    total cost divided by the quantity of output

  • budget surplus

    an excess of tax revenue over government spending

  • cost–benefit analysis

    a study that compares the costs and benefits to society of providing a public good

  • demand deposits

    balances in bank accounts that depositors can access on demand by writing a check

  • diminishing returns

    the property whereby the benefit from an extra unit of an input declines as the quantity of the input increases

  • equilibrium

    a situation in which the market price has reached the level at which quantity supplied equals quantity demanded

  • fundamental analysis

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

  • horizontal equity

    the idea that taxpayers with similar abilities to pay taxes should pay the same amount

  • indexation

    the automatic correction by law or contract of a dollar amount for the effects of inflation

  • inflation

    an increase in the overall level of prices in the economy

  • lump-sum tax

    a tax that is the same amount for every person

  • marginal product of labor

    the increase in the amount of output from an additional unit of labor

  • physical capital

    the stock of equipment and structures that are used to produce goods and services

  • prisoners’ dilemma

    a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial

  • productivity

    the quantity of goods and services produced from each unit of labor input

  • structural unemployment

    unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one

  • substitutes

    two goods for which an increase in the price of one leads to an increase in the demand for the other