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Textbooks / Business / Principles of Macroeconomics 6

Principles of Macroeconomics 6th Edition - Solutions by Chapter

Principles of Macroeconomics | 6th Edition | ISBN: 9780538453066 | Authors: N. Gregory Mankiw

Full solutions for Principles of Macroeconomics | 6th Edition

ISBN: 9780538453066

Principles of Macroeconomics | 6th Edition | ISBN: 9780538453066 | Authors: N. Gregory Mankiw

Principles of Macroeconomics | 6th Edition - Solutions by Chapter

The full step-by-step solution to problem in Principles of Macroeconomics were answered by , our top Business solution expert on 03/16/18, 04:28PM. Since problems from 23 chapters in Principles of Macroeconomics have been answered, more than 7395 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 23. Principles of Macroeconomics was written by and is associated to the ISBN: 9780538453066. This textbook survival guide was created for the textbook: Principles of Macroeconomics, edition: 6.

Key Business Terms and definitions covered in this textbook
  • accounting profit

    total revenue minus total explicit cost

  • classical dichotomy

    the theoretical separation of nominal and real variables

  • economic profit

    total revenue minus total cost, including both explicit and implicit costs

  • explicit costs

    input costs that require an outlay of money by the firm

  • lump-sum tax

    a tax that is the same amount for every person

  • marginal product

    the increase in output that arises from an additional unit of input

  • marginal revenue

    the change in total revenue from an additional unit sold

  • market for loanable funds

    the market in which those who want to save supply funds and those who want to borrow to invest demand funds

  • money supply

    the quantity of money available in the economy

  • monopolistic competition

    the quantity of money available in the economy

  • monopoly

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

  • perfect substitutes

    two goods with straight-line indifference curves

  • poverty rate

    the percentage of the population whose family income falls below an absolute level called the poverty line

  • price ceiling

    a legal maximum on the price at which a good can be sold

  • proportional tax

    a tax for which highincome and low-income taxpayers pay the same fraction of income

  • regressive tax

    a tax for which highincome taxpayers pay a smaller fraction of their income than do low-income taxpayers

  • scarcity

    the limited nature of society’s resources

  • shoe-leather cost

    the resources wasted when inflation encourages people to reduce their money holdings

  • tariff

    tax on goods produced abroad and sold domestically

  • variable costs

    costs that vary with the quantity of output produced