Key Terms by Chapter
Chapter 5: Theory of Market Capitalism
invisible hand
mercantilism
efficiency of market allocation
constitution
simple market
complex market
state intervention
monopoly
taxation
subsidies
direct regulation
natural monopoly
external effects
external diseconomies
external economies
private costs
social costs
public goods
majority voting
median voter rule
income distribution
Keynesian revolution
Say's Law
fiscal policy
monetary policy
policy activism
monetarists
rational-expectations theory
creative destruction
industrial policy
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