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Solutions for Chapter 21: Landforms and Resources

World Geography | ISBN: 9780618689989 | Authors: McDougal Littel

Full solutions for World Geography

ISBN: 9780618689989

World Geography | ISBN: 9780618689989 | Authors: McDougal Littel

Solutions for Chapter 21: Landforms and Resources

Solutions for Chapter 21
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Textbook: World Geography
Edition:
Author: McDougal Littel
ISBN: 9780618689989

Since 38 problems in chapter 21: Landforms and Resources have been answered, more than 11945 students have viewed full step-by-step solutions from this chapter. This expansive textbook survival guide covers the following chapters and their solutions. Chapter 21: Landforms and Resources includes 38 full step-by-step solutions. World Geography was written by and is associated to the ISBN: 9780618689989. This textbook survival guide was created for the textbook: World Geography, edition: .

Key Business Terms and definitions covered in this textbook
  • Coase theorem

    the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own

  • compounding

    the accumulation of a sum of money in, say, a bank account, where the interest earned remains in the account to earn additional interest in the future

  • Condorcet paradox

    the failure of majority rule to produce transitive preferences for society

  • corrective tax

    a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality

  • demand curve

    a graph of the relationship between the price of a good and the quantity demanded

  • economics

    the study of how society manages its scarce resources economies of scale the property whereby long-run average total cost falls as the quantity of output increases

  • excludability

    the property of a good whereby a person can be prevented from using it

  • Federal Reserve (Fed)

    the central bank of the United States

  • government purchases

    spending on goods and services by local, state, and federal governments

  • marginal product

    the increase in output that arises from an additional unit of input

  • market

    a group of buyers and sellers of a particular good or service

  • multiplier effect

    the additional shifts in aggregate demand that result when expansionary fiscal policy increases income and thereby increases consumer spending

  • nominal variables

    variables measured in monetary units

  • poverty rate

    the percentage of the population whose family income falls below an absolute level called the poverty line

  • price ceiling

    a legal maximum on the price at which a good can be sold

  • quantity supplied

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

  • regressive tax

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

  • store of value

    an item that people can use to transfer purchasing power from the present to the future

  • supply schedule

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

  • theory of liquidity preference

    Keynes’s theory that the interest rate adjusts to bring money supply and money demand into balance

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