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Solutions for Chapter 23: Independence And Development In The Global South, 1914present

Full solutions for Ways of the World: A Brief Global History with Sources

ISBN: 9780312644666

Solutions for Chapter 23: Independence And Development In The Global South, 1914present

This textbook survival guide was created for the textbook: Ways of the World: A Brief Global History with Sources, edition: . This expansive textbook survival guide covers the following chapters and their solutions. Ways of the World: A Brief Global History with Sources was written by and is associated to the ISBN: 9780312644666. Since 4 problems in chapter 23: Independence And Development In The Global South, 1914present have been answered, more than 2045 students have viewed full step-by-step solutions from this chapter. Chapter 23: Independence And Development In The Global South, 1914present includes 4 full step-by-step solutions.

Key Business Terms and definitions covered in this textbook
  • average revenue

    total revenue divided by the quantity sold

  • bond

    a certificate of indebtedness

  • Coase theorem

    the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own

  • demand curve

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

  • economies of scale

    the property whereby long-run average total cost falls as the quantity of output increases

  • in-kind transfers

    transfers to the poor given in the form of goods and services rather than cash

  • investment

    spending on capital equipment, inventories, and structures, including household purchases of new housing

  • law of supply and demand

    the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balance

  • marginal cost

    the increase in total cost that arises from an extra unit of production

  • marginal revenue

    the change in total revenue from an additional unit sold

  • market economy

    an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services

  • negative income tax

    a tax system that collects revenue from high-income households and gives subsidies to lowincome households

  • normal good

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

  • normative statements

    claims that attempt to prescribe how the world should be

  • price elasticity of demand

    a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price

  • producer price index

    a measure of the cost of a basket of goods and services bought by firms

  • production function

    the relationship between quantity of inputs used to make a good and the quantity of output of that good

  • 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

  • real GDP

    the production of goods and services valued at constant prices

  • rivalry in consumption

    the property of a good whereby one person’s use diminishes other people’s use

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