×
Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide

Solutions for Chapter 4: Th e Market Forces of Supply and Demand

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

Solutions for Chapter 4: Th e Market Forces of Supply and Demand

Since 14 problems in chapter 4: Th e Market Forces of Supply and Demand have been answered, more than 3669 students have viewed full step-by-step solutions from this chapter. This textbook survival guide was created for the textbook: Principles of Macroeconomics, edition: 6. Principles of Macroeconomics was written by and is associated to the ISBN: 9780538453066. Chapter 4: Th e Market Forces of Supply and Demand includes 14 full step-by-step solutions. This expansive textbook survival guide covers the following chapters and their solutions.

Key Business Terms and definitions covered in this textbook
  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • benefits principle

    the idea that people should pay taxes based on the benefits they receive from government services

  • cartel

    a group of firms acting in unison

  • cost–benefit analysis

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

  • discouraged workers

    individuals who would like to work but have given up looking for a job

  • economics

    the study of how society manages its scarce resources economies of scale the property whereby long-run average total cost falls as the quantity of output increases

  • economics

    the study of how society manages its scarce resources

  • equality

    the property of distributing economic prosperity uniformly among the members of society

  • financial system

    the group of institutions in the economy that help to match one person’s saving with another person’s investment

  • inflation

    an increase in the overall level of prices in the economy

  • informational efficiency

    the description of asset prices that rationally reflect all available information

  • money supply

    the quantity of money available in the economy

  • natural rate of unemployment

    the normal rate of unemployment around which the unemployment rate fluctuates

  • normal good

    a good for which, other things being equal, an increase in

  • opportunity cost

    whatever must be given up to obtain some item

  • progressive tax

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

  • sacrifice ratio

    the number of percentage points of annual output lost in the process of reducing inflation by 1 percentage point

  • substitutes

    two goods for which an increase in the price of one leads to an increase in the demand for the other

  • unemployment rate

    the percentage of the labor force that is unemployed

  • vertical equity

    the idea that taxpayers with a greater ability to pay taxes should pay larger amounts

×
Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide
×
Reset your password