©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
Econ 211 UNL final exam Study Guide
with Complete Solutions
make business cycles more severe - Answer✔️✔️-a law requiring the federal
budget to be balanced each year would likely:
$280 - Answer✔️✔️-nominal GDP in year 4 is equal to (table):
$125 million increase - Answer✔️✔️-when real GDP is $700 billion, there will
be a _______ in unplanned inventory investment.
when the amount of human capital per worker and the state of technology
are fixed, successive increases in the amount of physical capital per worker
lead to smaller increases in productivity - Answer✔️✔️-diminishing returns
to physical capital suggest that:
technological progress - Answer✔️✔️-the MOST important driver for
economic growth appears to be:
capital will flow into country A - Answer✔️✔️-when interest rates are higher
in country A than in other countries:
sell assets to foreigners - Answer✔️✔️-if a country runs a deficit on its
balance of payments for goods and services, to pay for its imports, it must:
reducing private investment spending on physical capital - Answer✔️✔️-
crowding out hampers the economy by:
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
9.0 - Answer✔️✔️-if the government imposes a price ceiling of $0.90 per
pound of butter, the quantity of butter actually purchased will be _____
million pounds (table).
the flow of money into each market or sector is equal to the flow of money
coming out of that market or sector - Answer✔️✔️-the basis of the circular-
flow diagram is that:
the country may not be able to use monetary policy to achieve other goals,
such as full employment - Answer✔️✔️-one limitation of maintaining a fixed
exchange rate system is that:
financial; increase - Answer✔️✔️-a Brazilian bank buys shares of stock in
Intel, a U.S. high-tech company. In the U.S. balance of payments, this
transaction causes the balance on the _____ account to _____.
2 - Answer✔️✔️-if farmer Sam MacDonald can produce 200 pounds of
cabbages and no potatoes or no cabbages and 100 pounds of potatoes and if
he faces a linear production possibility frontier, the opportunity cost of
producing an additional pound of potatoes is _____ pound(s) of cabbage.
the value of the production of all final goods and services adjusted for price
changes - Answer✔️✔️-real GDP is:
foreign purchases of U.S. goods and services - Answer✔️✔️-money flows
into the United States from other countries as a direct result of:
2
Econ 211 UNL final exam Study Guide
with Complete Solutions
make business cycles more severe - Answer✔️✔️-a law requiring the federal
budget to be balanced each year would likely:
$280 - Answer✔️✔️-nominal GDP in year 4 is equal to (table):
$125 million increase - Answer✔️✔️-when real GDP is $700 billion, there will
be a _______ in unplanned inventory investment.
when the amount of human capital per worker and the state of technology
are fixed, successive increases in the amount of physical capital per worker
lead to smaller increases in productivity - Answer✔️✔️-diminishing returns
to physical capital suggest that:
technological progress - Answer✔️✔️-the MOST important driver for
economic growth appears to be:
capital will flow into country A - Answer✔️✔️-when interest rates are higher
in country A than in other countries:
sell assets to foreigners - Answer✔️✔️-if a country runs a deficit on its
balance of payments for goods and services, to pay for its imports, it must:
reducing private investment spending on physical capital - Answer✔️✔️-
crowding out hampers the economy by:
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
9.0 - Answer✔️✔️-if the government imposes a price ceiling of $0.90 per
pound of butter, the quantity of butter actually purchased will be _____
million pounds (table).
the flow of money into each market or sector is equal to the flow of money
coming out of that market or sector - Answer✔️✔️-the basis of the circular-
flow diagram is that:
the country may not be able to use monetary policy to achieve other goals,
such as full employment - Answer✔️✔️-one limitation of maintaining a fixed
exchange rate system is that:
financial; increase - Answer✔️✔️-a Brazilian bank buys shares of stock in
Intel, a U.S. high-tech company. In the U.S. balance of payments, this
transaction causes the balance on the _____ account to _____.
2 - Answer✔️✔️-if farmer Sam MacDonald can produce 200 pounds of
cabbages and no potatoes or no cabbages and 100 pounds of potatoes and if
he faces a linear production possibility frontier, the opportunity cost of
producing an additional pound of potatoes is _____ pound(s) of cabbage.
the value of the production of all final goods and services adjusted for price
changes - Answer✔️✔️-real GDP is:
foreign purchases of U.S. goods and services - Answer✔️✔️-money flows
into the United States from other countries as a direct result of:
2
