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Textbooks / Business / Basic Statistics for Business and Economics 7

Basic Statistics for Business and Economics 7th Edition - Solutions by Chapter

Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen

Full solutions for Basic Statistics for Business and Economics | 7th Edition

ISBN: 9780077384470

Basic Statistics for Business and Economics | 7th Edition | ISBN: 9780077384470 | Authors: Douglas Lind; William Marchal; Samuel Wathen

Basic Statistics for Business and Economics | 7th Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 405 Reviews

Basic Statistics for Business and Economics was written by and is associated to the ISBN: 9780077384470. This textbook survival guide was created for the textbook: Basic Statistics for Business and Economics , edition: 7. The full step-by-step solution to problem in Basic Statistics for Business and Economics were answered by , our top Business solution expert on 08/23/17, 08:36AM. This expansive textbook survival guide covers the following chapters: 6. Since problems from 6 chapters in Basic Statistics for Business and Economics have been answered, more than 89232 students have viewed full step-by-step answer.

Key Business Terms and definitions covered in this textbook
  • agent

    a person who is performing an act for another person, called the principal

  • average tax rate

    total taxes paid divided by total income

  • compensating differential

    a difference in wages that arises to offset the nonmonetary characteristics of different jobs

  • demand curve

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

  • discrimination

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

  • exports

    goods produced domestically and sold abroad

  • factors of production

    the inputs used to produce goods and services

  • game theory

    the study of how people behave in strategic situations

  • job search

    the process by which workers find appropriate jobs given their tastes and skills

  • marginal product of labor

    the increase in the amount of output from an additional unit of labor

  • marginal rate of substitution

    the rate at which a consumer is willing to trade one good for another

  • maximin criterion

    the claim that the government should aim to maximize the well-being of the worst-off person in society

  • monopoly

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

  • net capital outflow

    the purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreigners

  • open-market operations

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

  • permanent income

    a person’s normal income

  • poverty line

    an absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty

  • poverty line

    an absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty

  • risk aversion

    a dislike of uncertainty

  • unemployment rate

    the percentage of the labor force that is unemployed

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