A
absolute advantage
19.1 Absolute and Comparative Advantage
Accounting profit
7.1 Explicit and Implicit Costs, and Accounting and Economic Profit,
10.1 Monopolistic Competition
acquisition
11.1 Corporate Mergers
actual rate of return
17.2 How Households Supply Financial Capital
Adam Smith
1.1 What Is Economics, and Why Is It Important?,
2.3 Confronting Objections to the Economic Approach,
10.2 Oligopoly
additional external costs
12.1 The Economics of Pollution
Adverse selection
16.2 Insurance and Imperfect Information
Affirmative action
14.5 Employment Discrimination
Affordable Care Act (ACA)
Introduction to Information, Risk, and Insurance,
16.2 Insurance and Imperfect Information,
18.2 Special Interest Politics
Age Discrimination in Employment Act
14.5 Employment Discrimination
Agriculture and Food Research Initiative (AFRI)
13.2 How Governments Can Encourage Innovation
Aid to Families with Dependent Children (AFDC)
15.3 The Safety Net
Alfred Marshall
3.5 Demand, Supply, and Efficiency
Allocative efficiency
2.2 The Production Possibilities Frontier and Social Choices,
8.4 Efficiency in Perfectly Competitive Markets,
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price,
12 Key Concepts and Summary
American Federation of State
14.3 Market Power on the Supply Side of Labor Markets: Unions
Anthony Downs
18.1 Voter Participation and Costs of Elections
Anti-dumping laws
20.3 Arguments in Support of Restricting Imports
Antitrust Division of the Justice Department
10.2 Oligopoly
antitrust laws
11.1 Corporate Mergers
asymmetric information
16.1 The Problem of Imperfect Information and Asymmetric Information
average cost
7.3 Costs in the Short Run
average cost curve
11.3 Regulating Natural Monopolies
average profit
7.3 Costs in the Short Run
Average total cost
7.3 Costs in the Short Run
average variable cost
7.3 Costs in the Short Run
B
Barriers to entry
9.1 How Monopolies Form: Barriers to Entry
Behavioral economics
6.3 Behavioral Economics: An Alternative Framework for Consumer Choice
behavioral economists
16.1 The Problem of Imperfect Information and Asymmetric Information
bilateral monopoly
14.4 Bilateral Monopoly
biodiversity
12.5 International Environmental Issues
Bipartisan Campaign Reform Act (BCRA)
18.1 Voter Participation and Costs of Elections
bond yield
17.2 How Households Supply Financial Capital
bondholder
17.1 How Businesses Raise Financial Capital
break even point
8.2 How Perfectly Competitive Firms Make Output Decisions
budget constraint
2.1 How Individuals Make Choices Based on Their Budget Constraint,
6.1 Consumption Choices,
6.2 How Changes in Income and Prices Affect Consumption Choices,
Appendix B Indifference Curves
budget constraint (or budget line)
6.1 Consumption Choices
budget constraint line
15.2 The Poverty Trap
budget line
Appendix B Indifference Curves
C
Capital
7.2 Production in the Short Run
capital gain
17.1 How Businesses Raise Financial Capital
cartel
10.2 Oligopoly
Celler-Kefauver Act
11.1 Corporate Mergers
certificate of deposit (CD)
17.2 How Households Supply Financial Capital
ceteris paribus
3.2 Shifts in Demand and Supply for Goods and Services,
3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process,
4.1 Demand and Supply at Work in Labor Markets
checking account
17.2 How Households Supply Financial Capital
circular flow diagram
1.3 How Economists Use Theories and Models to Understand Economic Issues
Civil Rights Act of 1964
14.5 Employment Discrimination
Civil Rights Act of 1991
14.5 Employment Discrimination
Clayton Antitrust Act
11.1 Corporate Mergers
Clean Air Act
12.2 Command-and-Control Regulation,
12.3 Market-Oriented Environmental Tools,
12.4 The Benefits and Costs of U.S. Environmental Laws
Clean Water Act
12.2 Command-and-Control Regulation
coinsurance
16.2 Insurance and Imperfect Information
collective bargaining
14.3 Market Power on the Supply Side of Labor Markets: Unions
collusion
10.2 Oligopoly
command economy
1.4 How To Organize Economies: An Overview of Economic Systems
command-and-control regulation
12.2 Command-and-Control Regulation
common resources
13.3 Public Goods
comparative advantage
1.1 What Is Economics, and Why Is It Important?,
2.2 The Production Possibilities Frontier and Social Choices,
19.1 Absolute and Comparative Advantage,
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
competition
13.1 Investments in Innovation
competitive market
14.5 Employment Discrimination
Compound interest
17.3 How to Accumulate Personal Wealth
concentration ratio
11.1 Corporate Mergers
constant returns to scale
7.5 Costs in the Long Run
Constant unitary elasticity
5.2 Polar Cases of Elasticity and Constant Elasticity
constant-cost industry
8.3 Entry and Exit Decisions in the Long Run
consumer equilibrium
6.1 Consumption Choices
consumer surplus
3.5 Demand, Supply, and Efficiency,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
consumption
6.1 Consumption Choices
consumption budget constraint
2.2 The Production Possibilities Frontier and Social Choices
copayment
16.2 Insurance and Imperfect Information
core competency
1.1 What Is Economics, and Why Is It Important?
corporate bond
17.1 How Businesses Raise Financial Capital
corporate governance
17.1 How Businesses Raise Financial Capital
corporation
17.1 How Businesses Raise Financial Capital
cost-plus regulation
11.3 Regulating Natural Monopolies
County and Municipal Employees (AFSCME)
14.3 Market Power on the Supply Side of Labor Markets: Unions
coupon rate
17.2 How Households Supply Financial Capital
cross-price elasticity of demand
5.4 Elasticity in Areas Other Than Price
D
David Ricardo
19.1 Absolute and Comparative Advantage
deadweight loss
3.5 Demand, Supply, and Efficiency
debit card
17.2 How Households Supply Financial Capital
decreasing-cost industry
8.3 Entry and Exit Decisions in the Long Run
deductibles
16.2 Insurance and Imperfect Information
demand
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
13.1 Investments in Innovation
demand and supply diagram
3.5 Demand, Supply, and Efficiency
demand and supply models
4.3 The Market System as an Efficient Mechanism for Information
demand curve
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
3.2 Shifts in Demand and Supply for Goods and Services,
5.1 Price Elasticity of Demand and Price Elasticity of Supply,
5.2 Polar Cases of Elasticity and Constant Elasticity,
10.1 Monopolistic Competition,
10.1 Monopolistic Competition,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
demand curves
11.1 Corporate Mergers
Deposit insurance
16.2 Insurance and Imperfect Information
derived demand
14.1 The Theory of Labor Markets
diminishing marginal productivity
7.3 Costs in the Short Run
Discrimination
14.5 Employment Discrimination
diseconomies of scale
7.5 Costs in the Long Run
disruptive market change
20.5 The Tradeoffs of Trade Policy
diversification
17.2 How Households Supply Financial Capital
division of labor
1.1 What Is Economics, and Why Is It Important?,
19.3 Intra-Industry Trade between Similar Economies
Dodd-Frank Act
11.4 The Great Deregulation Experiment
Dow Jones Index
17.2 How Households Supply Financial Capital
dumping
19.4 The Benefits of Reducing Barriers to International Trade,
20.3 Arguments in Support of Restricting Imports
duopoly
10.2 Oligopoly
E
earned income tax credit (EITC)
15.3 The Safety Net
economic efficiency
2.3 Confronting Objections to the Economic Approach
economic surplus
3.5 Demand, Supply, and Efficiency
economies of scale
1.1 What Is Economics, and Why Is It Important?,
7.5 Costs in the Long Run,
9.1 How Monopolies Form: Barriers to Entry,
19.3 Intra-Industry Trade between Similar Economies
effective income tax
15.5 Government Policies to Reduce Income Inequality
efficiency
3.5 Demand, Supply, and Efficiency
Elasticity
Introduction to Elasticity
elasticity of savings
5.4 Elasticity in Areas Other Than Price
Entrepreneurship
7.2 Production in the Short Run
Equal Employment Opportunity Commission (EEOC)
14.5 Employment Discrimination
Equal Pay Act of 1963
14.5 Employment Discrimination
equilibrium
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
3.5 Demand, Supply, and Efficiency,
4.1 Demand and Supply at Work in Labor Markets,
10.1 Monopolistic Competition,
16.1 The Problem of Imperfect Information and Asymmetric Information,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
equilibrium price
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
16.1 The Problem of Imperfect Information and Asymmetric Information
equilibrium quantity
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
European Union (EU)
3.4 Price Ceilings and Price Floors
exclusive dealing
11.2 Regulating Anticompetitive Behavior
expected rate of return
17.2 How Households Supply Financial Capital
external costs
12.1 The Economics of Pollution
externality
12.1 The Economics of Pollution
F
face value
17.2 How Households Supply Financial Capital
Factor payments
7.3 Costs in the Short Run
factors of production
3.2 Shifts in Demand and Supply for Goods and Services
Federal Deposit Insurance Corporation (FDIC)
17.2 How Households Supply Financial Capital
Federal Reserve Economic Data (FRED)
Introduction to Financial Markets
Federal Trade Commission
10.2 Oligopoly
Federal Trade Commission (FTC)
16.1 The Problem of Imperfect Information and Asymmetric Information
fee-for-service
16.2 Insurance and Imperfect Information
financial capital
4.2 Demand and Supply in Financial Markets
financial capital market
16.1 The Problem of Imperfect Information and Asymmetric Information
financial capital markets
16.1 The Problem of Imperfect Information and Asymmetric Information,
Introduction to Financial Markets
financial intermediary
17.2 How Households Supply Financial Capital
firm
2.2 The Production Possibilities Frontier and Social Choices,
3.2 Shifts in Demand and Supply for Goods and Services,
Introduction to Production, Costs, and Industry Structure,
10.1 Monopolistic Competition,
10.2 Oligopoly,
13.1 Investments in Innovation,
17.1 How Businesses Raise Financial Capital,
18.3 Flaws in the Democratic System of Government
first rule of labor markets
14.1 The Theory of Labor Markets
fiscal policy
1.2 Microeconomics and Macroeconomics
Fixed inputs
7.2 Production in the Short Run
fossil fuels
12.5 International Environmental Issues
Francine Blau
14.5 Employment Discrimination
free rider
13.3 Public Goods
free trade agreements
20.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally
G
gain from trade
19.1 Absolute and Comparative Advantage
game theory
10.2 Oligopoly
Gary Becker
14.5 Employment Discrimination
General Agreement on Tariffs and Trade (GATT)
20.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally
George Psacharopoulos
13.1 Investments in Innovation
globalization
1.4 How To Organize Economies: An Overview of Economic Systems,
11.1 Corporate Mergers,
15.4 Income Inequality: Measurement and Causes,
Introduction to International Trade,
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
goods and services market
1.3 How Economists Use Theories and Models to Understand Economic Issues
Great Depression
Introduction to International Trade
Great Recession
15.3 The Safety Net
gross domestic product (GDP)
12.6 The Tradeoff between Economic Output and Environmental Protection
Gross domestic product (GDP)
1.4 How To Organize Economies: An Overview of Economic Systems
H
Health Care for America Now (HCAN)
18.2 Special Interest Politics
health maintenance organization (HMO)
16.2 Insurance and Imperfect Information
Herfindahl-Hirschman Index (HHI)
11.1 Corporate Mergers
High-income countries
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers,
20.3 Arguments in Support of Restricting Imports
high-yield
17.2 How Households Supply Financial Capital
I
immigrants
14.6 Immigration
imperfect information
16.1 The Problem of Imperfect Information and Asymmetric Information
imperfectly competitive
Introduction to Monopolistic Competition and Oligopoly
Imports
1.4 How To Organize Economies: An Overview of Economic Systems,
19.2 What Happens When a Country Has an Absolute Advantage in All Goods
income effect
6.2 How Changes in Income and Prices Affect Consumption Choices,
Appendix B Indifference Curves
income elasticity of demand
5.4 Elasticity in Areas Other Than Price
increasing-cost industry
8.3 Entry and Exit Decisions in the Long Run
index fund
17.2 How Households Supply Financial Capital
indifference curve
Appendix B Indifference Curves
inelastic demand
5.1 Price Elasticity of Demand and Price Elasticity of Supply
inelastic supply
5.1 Price Elasticity of Demand and Price Elasticity of Supply
inequality
15.1 Drawing the Poverty Line
infant industry argument
20.3 Arguments in Support of Restricting Imports
inferior good
3.2 Shifts in Demand and Supply for Goods and Services,
5.4 Elasticity in Areas Other Than Price,
6.2 How Changes in Income and Prices Affect Consumption Choices
Infinite elasticity
5.2 Polar Cases of Elasticity and Constant Elasticity
initial public offering (IPO)
17.1 How Businesses Raise Financial Capital
Insurance
16.2 Insurance and Imperfect Information
intellectual property
9.1 How Monopolies Form: Barriers to Entry,
13.2 How Governments Can Encourage Innovation
Interest and dividends
7.3 Costs in the Short Run
international externalities
12.5 International Environmental Issues
international trade
19.3 Intra-Industry Trade between Similar Economies,
20.5 The Tradeoffs of Trade Policy
International Trade Commission (ITC)
18.3 Flaws in the Democratic System of Government
intertemporal choices
2.3 Confronting Objections to the Economic Approach
intertemporal decision making
4.2 Demand and Supply in Financial Markets
intra-industry trade
19.3 Intra-Industry Trade between Similar Economies
invisible hand
2.3 Confronting Objections to the Economic Approach
J
Joan Robinson
18.3 Flaws in the Democratic System of Government
John Maynard Keynes
1.3 How Economists Use Theories and Models to Understand Economic Issues
junk bonds
17.2 How Households Supply Financial Capital
L
labor market
1.3 How Economists Use Theories and Models to Understand Economic Issues,
4.1 Demand and Supply at Work in Labor Markets,
16.1 The Problem of Imperfect Information and Asymmetric Information
labor markets
15.4 Income Inequality: Measurement and Causes
labor-leisure budget constraint
15.2 The Poverty Trap
labor-leisure diagram
Appendix B Indifference Curves
Laurence Kahn
14.5 Employment Discrimination
law of demand
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
4.2 Demand and Supply in Financial Markets
Law of Diminishing Marginal Product
7.2 Production in the Short Run
law of diminishing marginal utility
2.1 How Individuals Make Choices Based on Their Budget Constraint
leviathan effect
7.5 Costs in the Long Run
living wage
4.1 Demand and Supply at Work in Labor Markets
lobbyists
18.2 Special Interest Politics
Logrolling
18.2 Special Interest Politics
long run
7.2 Production in the Short Run
long-run average cost (LRAC) curve
7.5 Costs in the Long Run
long-run equilibrium
8.3 Entry and Exit Decisions in the Long Run
Lorenz curve
15.4 Income Inequality: Measurement and Causes
M
Macroeconomics
1.2 Microeconomics and Macroeconomics
marginal analysis
2.1 How Individuals Make Choices Based on Their Budget Constraint
marginal benefits
12.4 The Benefits and Costs of U.S. Environmental Laws
marginal cost
7.3 Costs in the Short Run,
7.3 Costs in the Short Run,
8.2 How Perfectly Competitive Firms Make Output Decisions,
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price,
11.3 Regulating Natural Monopolies
marginal cost curve
12.4 The Benefits and Costs of U.S. Environmental Laws
marginal cost curves
12.3 Market-Oriented Environmental Tools
marginal cost of labor
14.2 Wages and Employment in an Imperfectly Competitive Labor Market
marginal product
7.2 Production in the Short Run
Marginal profit
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
marginal rate of substitution
Appendix B Indifference Curves
marginal revenue
8.2 How Perfectly Competitive Firms Make Output Decisions,
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
Marginal utility per dollar
6.1 Consumption Choices
market
1.4 How To Organize Economies: An Overview of Economic Systems,
11.1 Corporate Mergers,
16.2 Insurance and Imperfect Information
market economy
1.4 How To Organize Economies: An Overview of Economic Systems,
2.2 The Production Possibilities Frontier and Social Choices,
13.1 Investments in Innovation
market failure
12.1 The Economics of Pollution
market price
10.1 Monopolistic Competition
market share
11.1 Corporate Mergers
market structure
Introduction to Perfect Competition
marketable permit program
12.3 Market-Oriented Environmental Tools
maturity date
17.2 How Households Supply Financial Capital
maximizing utility
6.1 Consumption Choices
median voter theory
18.3 Flaws in the Democratic System of Government
Medicare
18.2 Special Interest Politics
merger
11.1 Corporate Mergers
Michael S. Clune
14.6 Immigration
Microeconomics
1.2 Microeconomics and Macroeconomics
Midpoint Formula
5.1 Price Elasticity of Demand and Price Elasticity of Supply
Midpoint Method
5.1 Price Elasticity of Demand and Price Elasticity of Supply,
5.1 Price Elasticity of Demand and Price Elasticity of Supply
minimum wage
4.1 Demand and Supply at Work in Labor Markets,
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
Mollie Orshansky
15.1 Drawing the Poverty Line
monetary policy
1.2 Microeconomics and Macroeconomics
money-back guarantee
16.1 The Problem of Imperfect Information and Asymmetric Information
monopolistic competition
Introduction to Monopolistic Competition and Oligopoly
Moral hazard
16.2 Insurance and Imperfect Information
municipal bond
17.1 How Businesses Raise Financial Capital
mutual funds
17.2 How Households Supply Financial Capital
N
National Academy of Engineering
13.2 How Governments Can Encourage Innovation
National Academy of Sciences
13.2 How Governments Can Encourage Innovation
National Association of Insurance Commissioners
16.2 Insurance and Imperfect Information
National Education Association
14.3 Market Power on the Supply Side of Labor Markets: Unions
National Institutes of Health
13.2 How Governments Can Encourage Innovation
national interest argument
20.3 Arguments in Support of Restricting Imports
National Labor Relations Act
14.3 Market Power on the Supply Side of Labor Markets: Unions
National Venture Capital Association
17.1 How Businesses Raise Financial Capital
Natural Resources (Land and Raw Materials)
7.2 Production in the Short Run
negative externalities
18.2 Special Interest Politics
negative externality
12.1 The Economics of Pollution
negative slope
Appendix A The Use of Mathematics in Principles of Economics
non-rival
13.3 Public Goods
nonexcludable
13.3 Public Goods
Nontariff barriers
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
normal goods
5.4 Elasticity in Areas Other Than Price,
6.2 How Changes in Income and Prices Affect Consumption Choices
normative statements
2.3 Confronting Objections to the Economic Approach
North American Free Trade Agreement (NAFTA)
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions,
20.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally
O
occupational licenses
16.1 The Problem of Imperfect Information and Asymmetric Information
opportunity cost
2.1 How Individuals Make Choices Based on Their Budget Constraint,
19.1 Absolute and Comparative Advantage,
19.2 What Happens When a Country Has an Absolute Advantage in All Goods,
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
opportunity set
Appendix B Indifference Curves
Organization of Petroleum Exporting Countries (OPEC)
10.2 Oligopoly
output
10.2 Oligopoly
Oxfam International
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
P
partnership
17.1 How Businesses Raise Financial Capital
Patient Protection and Affordable Care Act (PPACA)
16.2 Insurance and Imperfect Information
Patient Protection and Affordable Care Act (PPACA)
Introduction to Information, Risk, and Insurance
Pension insurance
16.2 Insurance and Imperfect Information
perfect competition
8.1 Perfect Competition and Why It Matters
perfect elasticity
5.2 Polar Cases of Elasticity and Constant Elasticity
perfect inelasticity
5.2 Polar Cases of Elasticity and Constant Elasticity
perfectly competitive firm
8.1 Perfect Competition and Why It Matters,
8.2 How Perfectly Competitive Firms Make Output Decisions,
8.3 Entry and Exit Decisions in the Long Run,
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
Perfectly Competitive Labor Market
14.1 The Theory of Labor Markets
perfectly elastic
10.1 Monopolistic Competition
Pew Research Center for People and the Press
3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
pollution charge
12.3 Market-Oriented Environmental Tools
pork-barrel spending
18.2 Special Interest Politics
positive externalities
13.1 Investments in Innovation
positive externality
12.1 The Economics of Pollution
positive slope
Appendix A The Use of Mathematics in Principles of Economics
positive statements
2.3 Confronting Objections to the Economic Approach
poverty
15.1 Drawing the Poverty Line
poverty line
15.1 Drawing the Poverty Line
poverty rate
15.1 Drawing the Poverty Line
poverty trap
15.2 The Poverty Trap
predatory pricing
9.1 How Monopolies Form: Barriers to Entry,
11.2 Regulating Anticompetitive Behavior
present discounted value (PDV)
Appendix C Present Discounted Value
present value
17.2 How Households Supply Financial Capital
price
2.1 How Individuals Make Choices Based on Their Budget Constraint,
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
3.2 Shifts in Demand and Supply for Goods and Services,
10.2 Oligopoly
price cap regulation
11.3 Regulating Natural Monopolies
price control
3.5 Demand, Supply, and Efficiency
price controls
3.4 Price Ceilings and Price Floors,
4.3 The Market System as an Efficient Mechanism for Information,
18.2 Special Interest Politics
Price elasticity
5.1 Price Elasticity of Demand and Price Elasticity of Supply
price elasticity of demand
5.1 Price Elasticity of Demand and Price Elasticity of Supply
price elasticity of supply
5.1 Price Elasticity of Demand and Price Elasticity of Supply
price taker
8.1 Perfect Competition and Why It Matters
prisoner’s dilemma
10.2 Oligopoly
private benefits
13.1 Investments in Innovation
private company
17.1 How Businesses Raise Financial Capital
private enterprise
1.4 How To Organize Economies: An Overview of Economic Systems
private insurance
16.2 Insurance and Imperfect Information
Private markets
12.1 The Economics of Pollution
private rates of return
13.1 Investments in Innovation
producer surplus
3.5 Demand, Supply, and Efficiency,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
product differentiation
10.1 Monopolistic Competition
production function
7.2 Production in the Short Run
production possibilities frontier (PPF)
2.2 The Production Possibilities Frontier and Social Choices
production possibility frontier (PPF)
12.6 The Tradeoff between Economic Output and Environmental Protection,
19.1 Absolute and Comparative Advantage
production technologies
7.5 Costs in the Long Run
Productive efficiency
2.2 The Production Possibilities Frontier and Social Choices,
8.4 Efficiency in Perfectly Competitive Markets,
10.1 Monopolistic Competition,
12 Key Concepts and Summary
profit-maximizing
10.1 Monopolistic Competition
profits
10.2 Oligopoly
progressive tax system
15.5 Government Policies to Reduce Income Inequality
property rights
12.3 Market-Oriented Environmental Tools
protectionism
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers,
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
public company
17.1 How Businesses Raise Financial Capital
public good
13.3 Public Goods
Public policy
15.5 Government Policies to Reduce Income Inequality
Q
quantity demanded
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
10.2 Oligopoly
quantity supplied
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
R
race to the bottom
20.3 Arguments in Support of Restricting Imports
rational ignorance
18.1 Voter Participation and Costs of Elections
Raw materials prices
7.3 Costs in the Short Run
Redistribution
15.5 Government Policies to Reduce Income Inequality
redlining
14.5 Employment Discrimination
restrictive practices
11.2 Regulating Anticompetitive Behavior
Retirement insurance
16.2 Insurance and Imperfect Information
risk group
16.2 Insurance and Imperfect Information
S
safety net
15.3 The Safety Net
Sarbanes-Oxley Act
11.4 The Great Deregulation Experiment
savings account
17.2 How Households Supply Financial Capital
Scarcity
1.1 What Is Economics, and Why Is It Important?,
2.3 Confronting Objections to the Economic Approach
service contract
16.1 The Problem of Imperfect Information and Asymmetric Information
Service Employees International Union
14.3 Market Power on the Supply Side of Labor Markets: Unions
shareholders
17.1 How Businesses Raise Financial Capital
Sherman Antitrust Act
11.1 Corporate Mergers
shift in demand
3.2 Shifts in Demand and Supply for Goods and Services
shift in supply
3.2 Shifts in Demand and Supply for Goods and Services
short run
7.2 Production in the Short Run
short-run average cost (SRAC) curves
7.5 Costs in the Long Run
Simple interest
17.3 How to Accumulate Personal Wealth
slope
2.2 The Production Possibilities Frontier and Social Choices,
Appendix A The Use of Mathematics in Principles of Economics
social benefits
13.1 Investments in Innovation
social costs
12.1 The Economics of Pollution
social rate of return
13.1 Investments in Innovation
social surplus
3.5 Demand, Supply, and Efficiency
sole proprietorship
17.1 How Businesses Raise Financial Capital
Special interest groups
18.2 Special Interest Politics
Special Supplemental Food Program for Women, Infants and Children (WIC)
15.3 The Safety Net
specialization
1.1 What Is Economics, and Why Is It Important?,
19.1 Absolute and Comparative Advantage
spillovers
12.1 The Economics of Pollution
splitting up the value chain
19.3 Intra-Industry Trade between Similar Economies
Standard & Poor’s 500 index
17.2 How Households Supply Financial Capital
straight-line demand curve
5.1 Price Elasticity of Demand and Price Elasticity of Supply
substitution effect
6.2 How Changes in Income and Prices Affect Consumption Choices,
Appendix B Indifference Curves
sunk costs
2.1 How Individuals Make Choices Based on Their Budget Constraint,
7.3 Costs in the Short Run
Supplemental Nutrition Assistance Program (SNAP)
15.3 The Safety Net
supply curve
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services,
3.2 Shifts in Demand and Supply for Goods and Services,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
supply curves
11.1 Corporate Mergers
T
Tariffs
19.4 The Benefits of Reducing Barriers to International Trade,
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers
tax incidence
5.3 Elasticity and Pricing
Temporary Assistance for Needy Families (TANF)
15.3 The Safety Net
the law of increasing opportunity cost
2.2 The Production Possibilities Frontier and Social Choices
total revenue
8.2 How Perfectly Competitive Firms Make Output Decisions,
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
total surplus
3.5 Demand, Supply, and Efficiency
total utility
6.1 Consumption Choices
trade secrets
9.1 How Monopolies Form: Barriers to Entry
traditional economy
1.4 How To Organize Economies: An Overview of Economic Systems
Treasury bond
17.1 How Businesses Raise Financial Capital
Tying sales
11.2 Regulating Anticompetitive Behavior
Tyler Cowen
13.3 Public Goods
U
U.S. Census Bureau
3.2 Shifts in Demand and Supply for Goods and Services
U.S. Department of the Treasury
17.1 How Businesses Raise Financial Capital
underground economies
1.4 How To Organize Economies: An Overview of Economic Systems
Unemployment insurance
16.2 Insurance and Imperfect Information
Unitary elasticities
5.1 Price Elasticity of Demand and Price Elasticity of Supply
usury laws
4.2 Demand and Supply in Financial Markets
utility
2.1 How Individuals Make Choices Based on Their Budget Constraint,
6.1 Consumption Choices,
Appendix B Indifference Curves
utility maximizing
16.1 The Problem of Imperfect Information and Asymmetric Information
utility-maximizing
18.1 Voter Participation and Costs of Elections
utility-maximizing choice
6.2 How Changes in Income and Prices Affect Consumption Choices
V
variable
7.2 Production in the Short Run,
Appendix A The Use of Mathematics in Principles of Economics
Variable costs
7.3 Costs in the Short Run
Variable inputs
7.2 Production in the Short Run
Venture capital
17.1 How Businesses Raise Financial Capital
voting cycle
18.3 Flaws in the Democratic System of Government
W
wage elasticity of labor supply
5.4 Elasticity in Areas Other Than Price
Wages and salaries
7.3 Costs in the Short Run
Walter McMahon
13.1 Investments in Innovation
Workman’s compensation insurance
16.2 Insurance and Imperfect Information
Z
Zero elasticity
5.2 Polar Cases of Elasticity and Constant Elasticity