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Solutions for Chapter 11: World War II

Full solutions for World History: Modern Times | 3rd Edition

ISBN: 9780078678554

Solutions for Chapter 11: World War II

Chapter 11: World War II includes 8 full step-by-step solutions. This expansive textbook survival guide covers the following chapters and their solutions. World History: Modern Times was written by and is associated to the ISBN: 9780078678554. Since 8 problems in chapter 11: World War II have been answered, more than 1872 students have viewed full step-by-step solutions from this chapter. This textbook survival guide was created for the textbook: World History: Modern Times, edition: 3.

Key Business Terms and definitions covered in this textbook
  • average total cost

    total cost divided by the quantity of output

  • business cycle

    fluctuations in economic activity, such as employment and production

  • club goods

    goods that are excludable but not rival in consumption

  • common resources

    goods that are rival in consumption but not excludable

  • cost–benefit analysis

    a study that compares the costs and benefits to society of providing a public good

  • cost–benefit analysis

    a study that compares the costs and benefits to society of providing a public good

  • 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

  • financial intermediaries

    financial institutions through which savers can indirectly provide funds to borrowers

  • life cycle

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

  • macroeconomics

    the study of economy-wide phenomena, including inflation, unemployment, and economic growth

  • marginal change

    a small incremental adjustment to a plan of action

  • marginal tax rate

    the amount that taxes increase from an additional dollar of income

  • negative income tax

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

  • political economy

    the study of government using the analytic methods of economics

  • productivity

    the quantity of goods and services produced from each unit of labor input

  • progressive tax

    a tax for which highincome taxpayers pay a larger fraction of their income than do low-income taxpayers

  • total revenue (for a firm)

    the amount a firm receives for the sale of its output

  • utility

    a measure of happiness or satisfaction

  • welfare

    government programs that supplement the incomes of the needy

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