- 17.1: Vocabulary Define: ecology, deforestation, ozone layer, greenhouse ...
- 17.2: People and Events Identify: Rachel Carson, Kyoto Protocol, Neil Arm...
- 17.3: Places Locate: Bhopal, Chernobyl.
- 17.4: Explain why technological advance and environmental problems are so...
- 17.5: Examining Trends What are the individual and global consequences of...
- 17.6: Summarizing Information Create a chart like the one below listing t...
- 17.7: Evaluate Study the photographs on this page and on page 747. How wo...
- 17.8: Expository Writing By now, many nations recognize that environmenta...
Solutions for Chapter 17: Challenges and Hopes for the Future
Full solutions for World History: Modern Times | 3rd Edition
Arrow’s impossibility theorem
a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences
average total cost
total cost divided by the quantity of output
the equipment and structures used to produce goods and services
the ability to produce a good at a lower opportunity cost than another producer
the value of everything a seller must give up to produce a good
input costs that do not require an outlay of money by the firm
the percentage change in the price index from the preceding period
the use of borrowed money to supplement existing funds for purposes of investment
median voter theorem
a mathematical result showing that if voters are choosing a point along a line and each voter wants the point closest to his most preferred point, then majority rule will pick the most preferred point of the median voter
the costs of changing prices
a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen
spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)
the tax revenue that the government has left after paying for its spending
the theory that people optimally use all the information they have, including information about government policies, when forecasting the future
two goods for which an increase in the price of one leads to an increase in the demand for the other
a cost that has already been committed and cannot be recovered
a table that shows the relationship between the price of a good and the quantity supplied
government programs that supplement the incomes of the needy welfare economics the study of how the allocation of resources affects economic well-being
government programs that supplement the incomes of the needy
willingness to pay
the maximum amount that a buyer will pay for a good