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Solutions for Chapter 23: The International Trade and Capital Flows

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

Solutions for Chapter 23: The International Trade and Capital Flows

Solutions for Chapter 23
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Textbook: Principles of Economics
Edition: 2
Author: Steven A. Greenlaw, David Shapiro, Timothy Taylor
ISBN: 9781947172364

This expansive textbook survival guide covers the following chapters and their solutions. This textbook survival guide was created for the textbook: Principles of Economics, edition: 2. Chapter 23: The International Trade and Capital Flows includes 46 full step-by-step solutions. Principles of Economics was written by and is associated to the ISBN: 9781947172364. Since 46 problems in chapter 23: The International Trade and Capital Flows have been answered, more than 45924 students have viewed full step-by-step solutions from this chapter.

Key Business Terms and definitions covered in this textbook
  • adverse selection

    the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed party

  • bond

    a certificate of indebtedness

  • business cycle

    fluctuations in economic activity, such as employment and production

  • cost–benefit analysis

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

  • cyclical unemployment

    the deviation of unemployment from its natural rate

  • externality

    the uncompensated impact of one person’s actions on the well-being of a bystander

  • Federal Reserve (Fed)

    the central bank of the United States

  • firm-specific risk

    risk that affects only a single company

  • free rider

    a person who receives the benefit of a good but avoids paying for it

  • inferior good

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

  • informational efficiency

    the description of asset prices that rationally reflect all available information

  • macroeconomics

    the study of economy-wide phenomena, including inflation, unemployment, and economic growth

  • monetary policy

    the setting of the money supply by policymakers in the central bank

  • private goods

    goods that are both excludable and rival in consumption

  • production possibilities frontier

    a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology

  • real GDP

    the production of goods and services valued at constant prices

  • screening

    an action taken by an uninformed party to induce an informed party to reveal information

  • strike

    the organized withdrawal of labor from a firm by a union

  • unit of account

    the yardstick people use to post prices and record debts

  • utility

    a measure of happiness or satisfaction