ECO 372 (ECO372)

ECO 372 Final Exam 1. the largest source of household income is in the U.S. is obtained a. stock dividends b. wages and salaries c. interest earnings d. rental income market where business sell goods and services to households and the government is called a. goods market b. factor market c. capital market d. money market gross domestic product is best defined as a. the market value of intermediate goods and services produced in an economy including exports b. all goods and services produced...

ECO 372 Final Exam 1. Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. 2. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium whe...

Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium when there was a decrease in...

ECO 372 Final Exam Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium when the...

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End section summary and practice work from textbook.

End section summary and practice work from textbook.

End section summary and practice work from textbook.

End section summary and practice work from textbook.

End section summary and practice work from textbook.