AP_Krugman_Textbook
industry supply curvea graphical rep- resentation that shows the relation- ship between the price of a good and the total output ...
loanable funds marketa hypothetical market in which the demand for funds is generated by borrowers and the supply of funds is pr ...
market sharethe fraction of the total industry output accounted for by a firm’s output. (p. 569) mean household incomethe averag ...
negative income taxa government program that supplements the income of low-income working families. (p. 769) net exports the dif ...
physical asseta claim on a tangible object that gives the owner the right to dispose of the object as he or she wishes. (p. 224) ...
public debtgovernment debt held by individuals and institutions outside the government. (p. 300) public gooda good that is both ...
short-run equilibrium aggregate price levelthe aggregate price levelinshort- run macroeconomic equilibrium.(p. 190) short-run in ...
technology spilloveranexternal benefit that results when knowledge spreads among individuals and firms. (p. 738) time allocation ...
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A Absolute advantage, 27 Absolute value, 40 Accounting profit,531–533, 539, 586 Actual investment spending, 169 Actual output, 1 ...
Britain (continued) capital flows, 415, 417 congestion charge, 57 loanable funds market, 414 pound, 435, 439 real GDP per capita ...
Current Population Survey, 119 Curve,in graph, 36–37 area, below or above, calculation, 41 horizontal and vertical, slopes of, 3 ...
Europe(continued) monetary neutrality, 318 unemployment benefits, 130 European Central Bank (ECB), 253 European Commission, 83 E ...
equilibrium, 422–423 exchange rate, 419–427 Foreign exchange reserves, 430–432 Fossil fuel consumption, 392 Franc, 134, 436 Fran ...
Income-elastic, 476 Income-inelastic, 476 Increase in demand, 51 Increase in supply, 61 Increasing opportunity cost, 19 Increasi ...
Labor strike, 129 Labor supply shifts, of curve, 697–698 wages and, 696–697 work versusleisure, 695–696 Labor supply curve, shif ...
McKinsey and Co., 370 MD (money demand curve), 270 –273, 444 Mean household income, 765 Means-tested, 768 Means-tested programs, ...
Negative income tax, 769 Negative relationship, 37 Net exports,108 –109 Net present value,240 –241 Network externality definitio ...
Price ceilings (continued) effects of, 79 inefficient allocation to consumers, 80 inefficiently low quality, 81 reason for, 81–8 ...
Research and development (R&D),386–387 Reserve ratio, 244 Reserve requirements,246, 263 Reserves, 248–249 Resources,3–4 natu ...
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