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Textbooks / Business / Principles of Economics 6

Principles of Economics 6th Edition - Solutions by Chapter

Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw

Full solutions for Principles of Economics | 6th Edition

ISBN: 9780538453059

Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw

Principles of Economics | 6th Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 341 Reviews
Textbook: Principles of Economics
Edition: 6
Author: N. Gregory Mankiw
ISBN: 9780538453059

The full step-by-step solution to problem in Principles of Economics were answered by , our top Business solution expert on 03/16/18, 04:26PM. This textbook survival guide was created for the textbook: Principles of Economics, edition: 6. Principles of Economics was written by and is associated to the ISBN: 9780538453059. This expansive textbook survival guide covers the following chapters: 36. Since problems from 36 chapters in Principles of Economics have been answered, more than 30854 students have viewed full step-by-step answer.

Key Business Terms and definitions covered in this textbook
  • 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 fixed cost

    fixed cost divided by the quantity of output

  • average tax rate

    total taxes paid divided by total income

  • compensating differential

    a difference in wages that arises to offset the nonmonetary characteristics of different jobs

  • consumer surplus

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

  • cross-price elasticity of demand

    a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in price of the second good

  • demand curve

    a graph of the relationship between the price of a good and the quantity demanded

  • demand deposits

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

  • diseconomies of scal

    the property whereby long-run average total cost rises as the quantity of output increases

  • government purchases

    spending on goods and services by local, state, and federal governments

  • investment

    spending on capital equipment, inventories, and structures, including household purchases of new housing

  • law of supply

    the claim that, other things being equal, the quantity supplied of a good rises when the price of the good rises

  • macroeconomics

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

  • microeconomics

    the study of how households and firms make decisions and how they interact in markets

  • negative income tax

    a tax system that collects revenue from high-income households and gives subsidies to lowincome households

  • net exports

    spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)

  • private goods

    goods that are both excludable and rival in consumption

  • signaling

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

  • surplus

    a situation in which quantity supplied is greater than quantity demanded

  • value of the marginal product

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