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Solutions for Chapter 12: Cold War and Postwar Changes

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

ISBN: 9780078678554

Solutions for Chapter 12: Cold War and Postwar Changes

This expansive textbook survival guide covers the following chapters and their solutions. Since 8 problems in chapter 12: Cold War and Postwar Changes have been answered, more than 1806 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. World History: Modern Times was written by and is associated to the ISBN: 9780078678554. Chapter 12: Cold War and Postwar Changes includes 8 full step-by-step solutions.

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

    fixed cost divided by the quantity of output

  • cartel

    a group of firms acting in unison

  • constant returns to scale

    the property whereby long-run average total cost stays the same as the quantity of output changes

  • discrimination

    the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics

  • explicit costs

    input costs that require an outlay of money by the firm

  • financial intermediaries

    financial institutions through which savers can indirectly provide funds to borrowers

  • fixed costs

    costs that do not vary with the quantity of output produced

  • free rider

    a person who receives the benefit of a good but avoids paying for it

  • inflation rate

    the percentage change in the price index from the preceding period

  • internalizing the externality

    altering incentives so that people take account of the external effects of their actions

  • life cycle

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

  • 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

  • monopoly

    a firm that is the sole seller of a product without close substitutes

  • open-market operations

    the purchase and sale of U.S. government bonds by the Fed

  • productivity

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

  • regressive tax

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

  • reserve requirements

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

  • scarcity

    the limited nature of society’s resources

  • 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

  • transaction costs

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

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