- 14.1: In comparing the European empires in the Americas with the Russian,...
- 14.2: In what different ways was European colonial rule expressed and exp...
- 14.3: Why did the European empires in the Americas have such an enormousl...
- 14.4: In what ways did the empires of the early modern era continue patte...
Solutions for Chapter 14: Empires And Encounters, 14501750
Full solutions for Ways of the World: A Brief Global History with Sources
the ability to produce a good using fewer inputs than another producer
the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed party
the property whereby countries that start off poor tend to grow more rapidly than countries that start off rich
goods that are excludable but not rival in consumption
the deviation of unemployment from its natural rate
balances in bank accounts that depositors can access on demand by writing a check
the property of society getting the most it can from its scarce resources
federal funds rate
the interest rate at which banks make overnight loans to one another
transfers to the poor given in the form of goods and services rather than cash
a good for which, other things being equal, an increase in income leads to a decrease in demand
the political philosophy according to which the government should punish crimes and enforce voluntary agreements but not redistribute income
the change in total revenue from an additional unit sold
marginal tax rate
the amount that taxes increase from an additional dollar of income
the proposition that changes in the money supply do not affect real variables
claims that attempt to prescribe how the world should be
the business practice of selling the same good at different prices to different customers
a period of declining real incomes and rising unemployment
the resources wasted when inflation encourages people to reduce their money holdings
the manner in which the burden of a tax is shared among participants in a market
Tragedy of the Commons
a parable that illustrates why common resources are used more than is desirable from the standpoint of society as a whole