Economics (MindTap Course List) - 13th Edition - by Roger A. Arnold - ISBN 9781337617383
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Economics (MindTap Course List)
13th Edition
Roger A. Arnold
Publisher: Cengage Learning
ISBN: 9781337617383

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Classical view: Classical economists consider that an economy is always in equilibrium at full...According to the classical economists, the economy is always self regulating and does not need any...The government expenditure is the broader definition of government spending, and the government...Money refers to the medium of exchange in the form of paper currency and coins, which are used to...The main responsibility of Fed is to control the money supply in the economy through the execution...The quantity theory of money assumes that the velocity and output remains constant. When this...The Keynesian transmission mechanism states that an increase in money supply affects the aggregate...The inverse relation between the bond price and its interest rate is shown in the figure below:...An article presented by A.W. Phillips in 1958 got a wider coverage because it appears like a menu...The per capita real economic growth is accounted by dividing the real gross domestic product (GDP)...Cutting income tax leads to an increase in tax revenue of government and decrease in the budget...The demand elasticity of a commodity can be identified through the variations in the total revenue...The total utility is the overall satisfaction accrued by a consumer from all the units of a...Since the income is $4,000 and price of good X is $50, the quantity of good X can be calculated as...The market coordination is an impersonal, which is like an individuals are guided to do X instead of...Technically, the statement the “firm’s entire marginal cost curve is its short-run supply curve”,...Both the productive and allocative efficiencies can only be seen in the perfectly competitive...The common criterion in all the four firms’ market structure based on the pricing decision is that...Robinson–Patman Act is one of the provisions, which constitutes the U.S. antitrust policy that is...Derived demand is the demand for the factors of production that depend on the demand for the good...The total wage bill is equal to the wage rate, which is multiplied by the number of labor hours...According to the U.S. Bureau of Census, the income distribution of the U.S. household during 2015 is...Generally, majority of the people greatly prefers the present consumption to the future consumption....When the marginal external cost (MEC) is zero, the marginal social cost (MSC) is equal to the...The median voter model refers to a two-person contest where the endeavor of political candidates...Predictions are a stepping stone of believing or not believing a theory because sometimes people...Most probably, the world’s position in the production possibility frontier is below the frontier....Suppose a person, who is in Mexico needs to buy the product of U.S. but the Mexican has pesos,...

More Editions of This Book

Corresponding editions of this textbook are also available below:
Economics (with InfoTrac )
7 Edition
ISBN: 9780324236620
Economics (available Titles Coursemate)
10 Edition
ISBN: 9780538452854
Economics, Concise Edition (with Infotrac) (available Titles Cengagenow)
1 Edition
ISBN: 9780324315028
3 Edition
ISBN: 9780314065896
Economics Prepared For Robert Morris College 8th Editition
8 Edition
ISBN: 9780324679533
5 Edition
ISBN: 9780324106817
Economics (Book Only)
12 Edition
ISBN: 9781285738321
Economics (book Only)
11 Edition
ISBN: 9781133561675
Economics (MindTap Course List)
13 Edition
ISBN: 9781337670647

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