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Solutions for Chapter 14: Th e Basic Tools of Finance

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 14: Th e Basic Tools of Finance

This expansive textbook survival guide covers the following chapters and their solutions. Since 10 problems in chapter 14: Th e Basic Tools of Finance have been answered, more than 3642 students have viewed full step-by-step solutions from this chapter. Chapter 14: Th e Basic Tools of Finance includes 10 full step-by-step solutions. 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.

Key Business Terms and definitions covered in this textbook
  • cartel

    a group of firms acting in unison

  • collusion

    an agreement among firms in a market about quantities to produce or prices to charge

  • comparative advantage

    the ability to produce a good at a lower opportunity cost than another producer

  • competitive market

    a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker

  • Condorcet paradox

    the failure of majority rule to produce transitive preferences for society

  • demand deposits

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

  • economic profit

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

  • equality

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

  • inferior good

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

  • lump-sum tax

    a tax that is the same amount for every person

  • market risk

    isk that affects all companies in the stock market

  • monopolistic competition

    the quantity of money available in the economy

  • moral hazard

    the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior

  • normative statements

    claims that attempt to prescribe how the world should be

  • poverty rate

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

  • 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

  • shoe-leather cost

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

  • supply curve

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

  • surplus

    a situation in which quantity supplied is greater than quantity demanded

  • vertical equity

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

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