- 5.1: Vocabulary Define: generator, transform, assembly line, mass produc...
- 5.2: People Identify: Thomas Edison, Alexander Graham Bell, Guglielmo Ma...
- 5.3: Places Locate: the Netherlands, Spain, Portugal, Russia, Austria-Hu...
- 5.4: Explain how Marxs ideas came to directly affect society.
- 5.5: Contextualizing What is the relationship between the large number o...
- 5.6: Compare and Contrast Use a Venn diagram like the one below to compa...
- 5.7: Compare the photos of the two Ford vehicles on page 298. Do you thi...
- 5.8: Expository Writing After Marconis first transmission across radio w...
Solutions for Chapter 5: Mass Society and Democracy
Full solutions for World History: Modern Times | 3rd Edition
the idea that taxes should be levied on a person according to how well that person can shoulder the burden
the ability to produce a good using fewer inputs than another producer
goods that are excludable but not rival in consumption
constant returns to scale
The property whereby long-run average total cost stays the same as the quantity of output changes
the fall in total surplus that results from a market distortion, such as a tax
the interest rate on the loans that the Fed makes to banks
economies of scale
the property whereby long-run average total cost falls as the quantity of output increases
input costs that require an outlay of money by the firm
the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve
labor-force participation rate
the percentage of the adult population that is in the labor force
the change in total revenue from an additional unit sold
a good for which, other things being equal, an increase in
the business practice of selling the same good at different prices to different customers
a person for whom another person, called the agent, is performing some act
the income that households have left after paying for taxes and consumption
the relationship between quantity of inputs used to make a good and the quantity of output of that good
goods that are neither excludable nor rival in consumption
the costs that parties incur in the process of agreeing to and following through on a bargain
unit of account
the yardstick people use to post prices and record debts
the idea that taxpayers with a greater ability to pay taxes should pay larger amounts