> > Principles of Economics 2

Principles of Economics 2nd Edition - Solutions by Chapter

Principles of Economics | 2nd Edition | ISBN: 9781947172364 | Authors: Steven A. Greenlaw, David Shapiro, Timothy Taylor

Full solutions for Principles of Economics | 2nd Edition

ISBN: 9781947172364

Principles of Economics | 2nd Edition | ISBN: 9781947172364 | Authors: Steven A. Greenlaw, David Shapiro, Timothy Taylor

Principles of Economics | 2nd Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 320 Reviews
Textbook: Principles of Economics
Edition: 2
Author: Steven A. Greenlaw, David Shapiro, Timothy Taylor
ISBN: 9781947172364

This textbook survival guide was created for the textbook: Principles of Economics, edition: 2. Since problems from 37 chapters in Principles of Economics have been answered, more than 4453 students have viewed full step-by-step answer. Principles of Economics was written by Patricia and is associated to the ISBN: 9781947172364. The full step-by-step solution to problem in Principles of Economics were answered by Patricia, our top Business solution expert on 03/16/18, 04:24PM. This expansive textbook survival guide covers the following chapters: 37.

Key Business Terms and definitions covered in this textbook
  • aggregate-supply curve

    a curve that shows the quantity of goods and services that firms choose to produce and sell at each price level

  • balanced trade

    a situation in which exports equal imports

  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • budget constraint

    the limit on the consumption bundles that a consumer can afford

  • closed economy

    an economy that does not interact with other economies in the world

  • consumer surplus

    the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it

  • diminishing marginal product

    the property whereby the marginal product of an input declines as the quantity of the input increases

  • leverage ratio

    the ratio of assets to bank capital

  • marginal rate of substitution

    the rate at which a consumer is willing to trade one good for another

  • monetary neutrality

    the proposition that changes in the money supply do not affect real variables

  • monopoly

    a firm that is the sole seller of a product without close substitutes

  • mutual fund

    an institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds

  • nominal variables

    variables measured in monetary units

  • normal good

    a good for which, other things being equal, an increase in income leads to an increase in demand

  • physical capital

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

  • positive statements

    claims that attempt to describe the world as it is

  • private goods

    goods that are both excludable and rival in consumption

  • supply schedule

    a table that shows the relationship between the price of a good and the quantity supplied

  • unit of account

    the yardstick people use to post prices and record debts

  • value of the marginal product

    the marginal product of an input times the price of the output

×
Log in to StudySoup
Get Full Access to Principles of Economics

Forgot password? Reset password here

Join StudySoup for FREE
Get Full Access to Principles of Economics
Join with Email
Already have an account? Login here
Reset your password

I don't want to reset my password

Need help? Contact support

Need an Account? Is not associated with an account
Sign up
We're here to help

Having trouble accessing your account? Let us help you, contact support at +1(510) 944-1054 or support@studysoup.com

Got it, thanks!
Password Reset Request Sent An email has been sent to the email address associated to your account. Follow the link in the email to reset your password. If you're having trouble finding our email please check your spam folder
Got it, thanks!
Already have an Account? Is already in use
Log in
Incorrect Password The password used to log in with this account is incorrect
Try Again

Forgot password? Reset it here