- 31.Problems and Applications 31.1: How would the following transactions affect U.S. exports, imports, ...
- 31.Questions for Review 31.1: Define net exports and net capital outflow. Explain how and why the...
- 31.Questions for Review 31.2: Explain the relationship among saving, investment, and net capital ...
- 31.Problems and Applications 31.2: Would each of the following transactions be included in net exports...
- 31.Questions for Review 31.3: If a Japanese car costs 500,000 yen, a similar American car costs $...
- 31.Problems and Applications 31.3: Describe the difference between foreign direct investment and forei...
- 31.Questions for Review 31.4: Describe the economic logic behind the theory of purchasing-power p...
- 31.Problems and Applications 31.4: How would the following transactions affect U.S. net capital outflo...
- 31.Questions for Review 31.5: If the Fed started printing large quantities of U.S. dollars, what ...
- 31.Problems and Applications 31.5: The business section of most major newspapers contains a table show...
- 31.Problems and Applications 31.6: Would each of the following groups be happy or unhappy if the U.S. ...
- 31.Problems and Applications 31.7: What is happening to the U.S. real exchange rate in each of the fol...
- 31.Problems and Applications 31.8: A can of soda costs $0.75 in the United States and 12 pesos in Mexi...
- 31.Problems and Applications 31.9: Assume that American rice sells for $100 per bushel, Japanese rice ...
- 31.Problems and Applications 31.10: A case study in the chapter analyzed purchasingpower parity for sev...
- 31.Problems and Applications 31.11: Purchasing-power parity holds between the nations of Ectenia and Wi...
Solutions for Chapter 31: Open Economy Macroeconomics: Basic Concepts
Full solutions for Principles of Economics | 6th Edition
average tax rate
total taxes paid divided by total income
the limit on the consumption bundles that a consumer can afford
the equipment and structures used to produce goods and services
input costs that require an outlay of money by the firm
money without intrinsic value that is used as money because of government decree
a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100
a good for which an increase in the price raises the quantity demanded
the proposition that changes in the money supply do not affect real variables
whatever must be given up to obtain some item
claims that attempt to describe the world as it is
the percentage of the population whose family income falls below an absolute level called the poverty line
a legal maximum on the price at which a good can be sold
a tax for which highincome and low-income taxpayers pay the same fraction of income
goods that are neither excludable nor rival in consumption
people who systematically and purposefully do the best they can to achieve their objectives
rivalry in consumption
the property of a good whereby one person’s use diminishes other people’s use
a graph of the relationship between the price of a good and the quantity supplied
a situation in which quantity supplied is greater than quantity demanded
a worker association that bargains with employers over wages, benefits, and working conditions
value of the marginal product
the marginal product of an input times the price of the output