Frictional unemployment Study guides, Class notes & Summaries

ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS) Question 1 Answer saved Marked out of 1.00 Flag question Question text The distribution effects of inflation are best described by … a. the elderly benefiting at the expense of the young. b. creditors benefiting at the expense of debtors. c. borrowers benefiting at the expense of lenders. d. the poor benefiting at the expense of the rich. Clear my choice Question 2 Answer saved Marked out of 1.00 Flag question Quest...

Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated GDP -Answer-the market value of all FINAL goods and services produced in a country during a period of time. GDP equation -Answer-GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption -Answer-expenditures made by households (excluding the purchase of a new house) Investment -Answer-Final goods and services purchased by business firms (equipment for production and new buildings), changes in i...

GDP is - value of all final goods and services produced within a country in a given period of time. Y = C + I + G + NX - Y = economy's total expenditure C = consumption in economy I = imports in economy G = government spending NX = net exports Net exports equal - exports minus imports CPI is used to - monitor changes in the cost of living over time Inflation rate - percentage change in the price level from the previous period Indexation refers to - using a law or contract to automatica...

GDP is CORRECT ANSWER value of all final goods and services produced within a country in a given period of time. Y = C + I + G + NX CORRECT ANSWER Y = economy's total expenditure C = consumption in economy I = imports in economy G = government spending NX = net exports Net exports equal CORRECT ANSWER exports minus imports CPI is used to CORRECT ANSWER monitor changes in the cost of living over time Inflation rate CORRECT ANSWER percentage change in the price level from the prev...

Demand Curve Shift Upward (direct relationship-positive shift) - correct answer The price of subsitute goods, expectations of price changes, income for normal goods, and extent of market Demand Curve Shift Downward (inverse relationship-neg. shift) - correct answer The price of complement good, income for inferior goods, and consumer boycotts SWOT analysis - correct answer strengths, weaknesses, opportunities, threats Three common measures of price inflation: - correct answer 1....

What is the labor force? CORRECT ANSWER the sum of employed and unemployed workers in the economy; it includes adult (16+) non-institutional civilian population What does "not in the labor force" mean? CORRECT ANSWER they currently do not have a job and they are not currently actively looking for a job what are the to kinds of people included in the labor force? CORRECT ANSWER unemployed and employed what does it mean to be unemployed CORRECT ANSWER someone who is not working but is cur...

Which of the following is generally not considered a macroeconomic goal? - correct answer E Zero frictional unemployment Which of the following is consistent with the law of demand? - correct answer D A decrease in the price of mouse pads causes an increase in the amount of mouse pads purchased The PPC above represents the total amount of capital and consumer goods and economy is capable of producing. What is illustrated by the change shown above? - correct answer B And advancemen...

OCR 2023 GCSE Economics J205/02: National and international economics Question Paper & Mark Scheme (Merged) ECONOMICS Please write clearly in black ink. Do not write in the barcodes. Centre number Candidate number First name(s) Last name Oxford Cambridge and RSA Friday 26 May 2023 – Morning GCSE (9–1) Economics J205/02 National and International Economics Time allowed: 1 hour 30 minutes INSTRUCTIONS • Use black ink. • Write your answer to each question in the space prov...

Which of the following is included in GDP? A. recreational marijuana purchased from a drug dealer by a college student? B. Recreational marijuana purchased and consumber by a man in his attic. C. medical marijuana purchased from a government-run pharmacy by a glaucoma patient. D. All of the above - correct answer C. medical marijuana purchased from a government-run pharmacy by a glaucoma patient. you know a candy bar cost five cents in 1962. You also know the CPI for 1962 and the CPI to...

BEC FormulasReal GDP - correct answer Nominal GDP/GDP Deflator x 100 Multiplier effect - correct answer 1/(1-MPC) The expenditure approach - correct answer Government Purchases Gross Domestic Investment Personal Consumption Net Exports The income approach - correct answer Income of proprietors Profits of corporations Interest (net) Rental Income Adjustments for Net Foreign Income and miscellaneous items Taxes Employee Compensation Depreciation Net National Product - correct...