Tentamen (uitwerkingen)

Solutions, Solutions Manual For Economics, 7th Edition, Krugman, Wells

0 keer verkocht

Vak
Economics

Instelling
Economics

Economics 7th Edition Solutions / Solutions Manual For Economics 7e Krugman. Paul Krugman, Robin Wells, 9781319415907 (Solutions Manual) Microeconomics 7e, Macroeconomics 7e, Economics 7e (Solutions) Krugman. Paul Krugman 7e Solutions Manual, Economics Seventh Edition Krugman Solutions Manual.

[Meer zien]

Voorbeeld 4 van de 966 pagina's

Bekijk voorbeeld

Geupload op 27 oktober 2024
Aantal pagina's 966
Geschreven in 2024/2025
Type Tentamen (uitwerkingen)
Bevat Vragen en antwoorden

microeconomics 7e krugman
solutions manual for economics
solutions for economics 7th edition
krugman 7e solutions manual
macroeconomics 7e krugman solutions
economics 7e solutions krugman

Instelling Economics
Vak Economics

Volgen

docusity

Lid sinds 1 jaar 432 documenten verkocht

€29,41

In winkelwagen

Op verlanglijstje

100% tevredenheidsgarantie
Direct beschikbaar na je betaling
Lees online óf als PDF
Geen vaste maandelijkse kosten

1|Page

Solutions Manual Economics 7th Edition Paul Krugman

Microeconomics / Macroeconomics / Economics

Chapter No. 01: First Principles

1. In each of the following situations, identify which of the 11 principles is at work.

a. You choose to purchase your textbooks online rather than paying a higher price for

the same books through your college bookstore.

b. On your spring break trip, your budget is limited to $35 a day.

c. To help reduce traffic congestion, many states have adopted congestion pricing. Under

this program, drivers are charged more to use express lanes during peak rush hour.

d. Congress passes an infrastructure bill to help construction workers who were left

jobless after the last recession.

e. You buy a used textbook from your roommate. Your roommate uses the money to buy

songs from iTunes.

f. You decide how many cups of coffee to have when studying the night before an exam

by considering how much more work you can do by having another cup versus how

jittery it will make you feel.

,2|Page

g. There is limited lab space available to do the project required in Chemistry 101. The

lab supervisor assigns lab time to each student based on when that student is able to

come.

h. You realize that you can graduate a semester early by forgoing a semester of study

abroad.

i. At the student center, there is a bulletin board on which people advertise used items

for sale, such as bicycles. Once you have adjusted for differences in quality, all the

bikes sell for about the same price.

j. You are better at performing lab experiments, and your lab partner is better at

writing lab reports. So the two of you agree that you will do all the experiments, and

she will write up all the reports.

k. Amazon announces a program to develop a drone delivery system in place of

traditional ground shipping.

Solution

1. a. People usually exploit opportunities to make themselves better off. In this case, you

make yourself better off by buying textbooks at a lower price.

b. Resources are scarce. Since you have only $35 a day, your resources are limited

(scarce).

,3|Page

c. When markets don’t achieve efficiency, government intervention can improve

society’s welfare. During most hours of the day, traffic congestion is minimal. But

during peak hours, the roads are crowded and stretched to capacity. The cost of

traffic congestion differs for every driver, and some drivers are willing to pay to avoid

rush hour. By implementing a program that charges drivers to use an express lane,

the government can speed travel times for those willing to pay the fee, reduce traffic

for everyone by moving some drivers off the main roads, and increase revenue.

Overall, society’s welfare is improved.

d. Overall spending sometimes gets out of line with the economy’s productive capacity;

when it does, government policy can change spending. Passing an infrastructure bill

will allow more spending on the part of the construction industry, which can now

purchase additional building materials and hire more construction workers. As these

companies make their purchases and newly hired workers spend their salaries,

overall spending will increase and help the economy return to capacity.

e. One person’s spending is another person’s income. Your spending on the used

textbook is your roommate’s income.

f. “How much” is a decision at the margin. Your decision is one of “how much” coffee to

consume, and you evaluate the trade-off between keeping yourself awake and

becoming more jittery from one more cup of coffee.

, 4|Page

g. Resources should be used as efficiently as possible to achieve society’s goals.

Allocating scarce lab space according to when each student can use that space is

efficient.

h. The real cost of something is what you must give up to get it. The real cost of a

semester abroad is giving up the opportunity to graduate early.

i. Markets move toward equilibrium. Any bicycle a buyer chooses will leave them

equally well off. That is, a buyer who chooses a particular bicycle cannot change

actions and find another bicycle that makes them better off. Also, no seller can take a

different action that makes them better off: no seller can charge a higher price for a

bicycle of similar quality since no one would buy that bicycle.

j. There are gains from trade. If each person specializes in what they are good at (that is,

in comparison with others that person has an advantage in producing that good), then

there will be gains from specialization and trade.

k. Increases in the economy’s potential lead to economic growth over time. Increasing

the speed and efficiency of package delivery through the application of new

technologies will increase economic potential and eventually economic growth.

2. Describe some of the opportunity costs when you decide to do the following.

a. Attend college instead of taking a job

b. Watch a movie instead of studying for an exam

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, creditcard of je Stuvia-tegoed en je bent klaar. Geen abonnement nodig.

Direct to-the-point

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper docusity. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €29,41. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 67418 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Begin nu gratis

Tentamen (uitwerkingen)

Solutions, Solutions Manual For Economics, 7th Edition, Krugman, Wells

Document informatie

Onderwerpen

Geschreven voor

Verkoper

Ontvangen beoordelingen

Voorbeeld van de inhoud