Ecn 211 final exam terms Study guides, Class notes & Summaries

Demand-Pull Inflation Correct Answer-increases in the price level (inflation) resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand Cost-Push Inflation Correct Answer-increases in the price level (inflation)resulting from an increase in resource costs (for example, raw material prices) and hence in per unit production costs; inflation caused by reductions in aggregate supply Wealth Effect Correct Answer-A change in the real va...

ECN 211 Final Exam Terms Demand-Pull Inflation Correct Answer-increases in the price level (inflation) resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand Cost-Push Inflation Correct Answer-increases in the price level (inflation)resulting from an increase in resource costs (for example, raw material prices) and hence in per unit production costs; inflation caused by reductions in aggregate supply Wealth Effect Correct Ans...

ECN 211 ASU Final Exam With Questions and Correct Answers Graded A+. The Circular Flow Diagram - ANSWER Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ANSWER The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ANSWER the economy can produce more of everything Opportunity Cost - ANSWER the cost of what you giv...

ECN 211 ASU Final Exam With Questions and Correct Answers Graded A+. The Circular Flow Diagram - ANSWER Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ANSWER The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ANSWER the economy can produce more of everything Opportunity Cost - ANSWER the cost of what you giv...

ECN 211 ASU Final Exam With Questions and Correct Answers Graded A+. The Circular Flow Diagram - ANSWER Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ANSWER The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ANSWER the economy can produce more of everything Opportunity Cost - ANSWER the cost of what you giv...

ECN 211 ASU Final Exam Marburger questions with correct answers The Circular Flow Diagram Correct Answer-Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC Correct Answer-The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... Correct Answer-the economy can produce more of everything Opportunity Cost Correct Answer-t...

ECN 211 ASU Final Exam Marburger Questions And Answers The Circular Flow Diagram - ANS Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ANS The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ANS the economy can produce more of everything Opportunity Cost - ANS the cost of what you give up to g...

ECN 211 ASU Final Exam Marburger questions with correct answers The Circular Flow Diagram Correct Answer-Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC Correct Answer-The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... Correct Answer-the economy can produce more of everything Opportunity Cost Correct Answer-t...

ECN 211 RAMIREZ DE LA VINA FINAL ASU EXAM QUESTIONS AND ANSWERS Rob is planning her activities for a cold winter day. He would like to go play hockey and see the latest blockbuster movie, but because he can only get tickets to the movie for the same time that the hockey ring is open he can only choose one activity. This illustrates the basic principle that - ANS people face tradeoffs. Rachel spends 2 hours studying instead of watching TV with his friends. The opportunity cost her of stud...

ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM WITH VERIFIED QUESTIONS AND ANSWERS 100% A GRADED Absolute Advantage - ANSWER-Who can make most of that good Comparative Advantage - ANSWER-The lowest opportunity cost for that good What would allow Panama and Canada to trade? - ANSWER-They want to trade within their opportunity cost Demand - ANSWER-The amount consumers are willing and able to purchase Supply - ANSWER-The amount that producers are willing and able to produce Law of demand - ...