- 19.1: Country A has export sales of $20 billion, government purchases of ...
- 19.2: Which of the following are included in GDP, and which are not? a. T...
- 19.3: Using data from Table 19.5 how much of the nominal GDP growth from ...
- 19.4: Without looking at Table 19.7, return to Figure 19.10. If we define...
- 19.5: According to Table 19.7, how often have recessions occurred since t...
- 19.6: According to Table 19.7, how long has the average recession lasted ...
- 19.7: According to Table 19.7, how long has the average expansion lasted ...
- 19.8: Is it possible for GDP to rise while at the same time per capita GD...
- 19.9: The Central African Republic has a GDP of 1,107,689 million CFA fra...
- 19.10: Explain briefly whether each of the following would cause GDP to ov...
- 19.11: What are the main components of measuring GDP with what is demanded?
- 19.12: What are the main components of measuring GDP with what is produced?
- 19.13: Would you usually expect GDP as measured by what is demanded to be ...
- 19.14: Why must you avoid double counting when measuring GDP?
- 19.15: What is the difference between a series of economic data over time ...
- 19.16: How do you convert a series of nominal economic data over time to r...
- 19.17: What are typical GDP patterns for a high-income economy like the Un...
- 19.18: What are the two main difficulties that arise in comparing differen...
- 19.19: List some of the reasons why economists should not consider GDP an ...
- 19.20: U.S. macroeconomic data are among the best in the world. Given what...
- 19.21: What does GDP not tell us about the economy?
- 19.22: Should people typically pay more attention to their real income or ...
- 19.23: Why do you suppose that U.S. GDP is so much higher today than 50 or...
- 19.24: Why do you think that GDP does not grow at a steady rate, but rathe...
- 19.25: Cross country comparisons of GDP per capita typically use purchasin...
- 19.26: Why might per capita GDP be only an imperfect measure of a countrys...
- 19.27: How might you measure a green GDP?
- 19.28: Last year, a small nation with abundant forests cut down $200 worth...
- 19.29: The prime interest rate is the rate that banks charge their best cu...
- 19.30: A mortgage loan is a loan that a person makes to purchase a house. ...
- 19.31: Ethiopia has a GDP of $8 billion (measured in U.S. dollars) and a p...
- 19.32: In 1980, Denmark had a GDP of $70 billion (measured in U.S. dollars...
- 19.33: The Czech Republic has a GDP of 1,800 billion koruny. The exchange ...
Solutions for Chapter 19: The Macroeconomic Perspective
Full solutions for Principles of Economics | 2nd Edition
a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
a study that compares the costs and benefits to society of providing a public good
the fall in total surplus that results from a market distortion, such as a tax
the interest rate on the loans that the Fed makes to banks
the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics
the group of institutions in the economy that help to match one person’s saving with another person’s investment
a banking system in which banks hold only a fraction of deposits as reserves
something that induces a person to act
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
the ease with which an asset can be converted into the economy’s medium of exchange
marginal tax rate
the amount that taxes increase from an additional dollar of income
a group of buyers and sellers of a particular good or service
nominal interest rate
the interest rate as usually reported without a correction for the effects of inflation
two goods with straight-line indifference curves
a person for whom another person, called the agent, is performing some act
a tax for which highincome taxpayers pay a larger fraction of their income than do low-income taxpayers
the ability of an individual to own and exercise control over scarce resources
goods that are neither excludable nor rival in consumption
theory of liquidity preference
Keynes’s theory that the interest rate adjusts to bring money supply and money demand into balance
costs that vary with the quantity of output produced