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World History 2nd Edition - Solutions by Chapter

Full solutions for World History | 2nd Edition

ISBN: 9780078607028

World History | 2nd Edition - Solutions by Chapter

World History was written by and is associated to the ISBN: 9780078607028. This textbook survival guide was created for the textbook: World History, edition: 2. The full step-by-step solution to problem in World History were answered by , our top Business solution expert on 03/19/18, 04:39PM. Since problems from 32 chapters in World History have been answered, more than 4722 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 32.

Key Business Terms and definitions covered in this textbook
  • aggregate-demand curve

    a curve that shows the quantity of goods and services that households, firms, the government, and customers abroad want to buy at each price level

  • aggregate-supply curve

    a curve that shows the quantity of goods and services that firms choose to produce and sell at each price level

  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • cartel

    a group of firms acting in unison

  • elasticity

    a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants

  • game theory

    the study of how people behave in strategic situations

  • human capital

    the accumulation of investments in people, such as education and on-the-job training

  • informational efficiency

    the description of asset prices that rationally reflect all available information

  • life cycle

    the regular pattern of income variation over a person’s life

  • maximin criterion

    the claim that the government should aim to maximize the well-being of the worst-off person in society

  • monetary policy

    the setting of the money supply by policymakers in the central bank

  • normative statements

    claims that attempt to prescribe how the world should be

  • opportunity cost

    whatever must be given up to obtain some item

  • public goods

    goods that are neither excludable nor rival in consumption

  • quantity supplied

    the amount of a good that sellers are willing and able to sell

  • reserve requirements

    regulations on the minimum amount of reserves that banks must hold against deposits

  • risk aversion

    a dislike of uncertainty

  • supply schedule

    a table that shows the relationship between the price of a good and the quantity supplied

  • transaction costs

    the costs that parties incur in the process of agreeing to and following through on a bargain

  • welfare

    government programs that supplement the incomes of the needy welfare economics the study of how the allocation of resources affects economic well-being

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