ASU ECN 211

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Examen

ASU ECN 211 FINAL EXAM (ALL CHAPTERS)
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8

agosto 2023

2023/2024

A+
In economics, we measure the cost of something as: - Answer- What you give up to get it. If output rises and unemployment falls, the central bank must have done what to the money supply? - Answer- Increase Real GDP will decrease: - Answer- Only when production of goods and services decrease In the U.S. minimum-wage laws create significant unemployment for: - Answer- Teenagers but not workers such as experienced plumbers. If you want to measure and record economic value, you will prim...
GEEKA
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Examen

ASU ECN 211 Final Exam 2024 with 100% correct answers
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9

enero 2024

2023/2024

A+
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 the cost of what you give up to get something else...
YANCHY
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Examen

ASU ECN 211 Exam 3 2024 with 100% correct answers
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12

enero 2024

2023/2024

A+
Recession - correct answer -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - correct answer a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - correct answer the short-run fluctuations of the economy Economic Fluctuations - correct answer -are irregular and unpredictable -most macroeconomic variables measuring i...
PassPointExams
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Examen

ASU ECN 211 EXAM 2 2024 WITH 100% CORRECT ANSWERS
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6

enero 2024

2023/2024

A+
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...
YANCHY
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Examen

ASU ECN 211 Exam 2 2024 with 100% correct answers
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6

enero 2024

2023/2024

A+
If a country keep its workers fully employed, it achieves a higher level of _______ than if it leaves many workers ________. - correct answer GDP Idle Natural Rate Of Unemployment - correct answer the normal rate of unemployment around which the unemployment rate fluctuates is the natural rate of unemployment The amount of unemployment that an economy normally experiences "Natural" Rate of Unemployment - correct answer The unemployment that doesn't go away on its own Emplo...
YANCHY
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Examen

ASU ECN 211 Exam 3 with 100% correct answers
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5

enero 2024

2023/2024

A+
What is a recession? - correct answer economic contraction; two straight quarters of negative GDP growth What is a boom? - correct answer economic expansion; boom length does not predict a recession What are the characteristics of a good economy? - correct answer lots of job openings, firms are raising wages to attract workers, asset values are rising, consumers borrow and spend money freely What are the characteristics of a bad economy? - correct answer new job openings are sca...
YANCHY
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Examen

ASU ECN 211 Exam 2 2024 with 100% correct answers
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6

enero 2024

2023/2024

A+
If a country keep its workers fully employed, it achieves a higher level of _______ than if it leaves many workers ________. - correct answer GDP Idle Natural Rate Of Unemployment - correct answer the normal rate of unemployment around which the unemployment rate fluctuates is the natural rate of unemployment The amount of unemployment that an economy normally experiences "Natural" Rate of Unemployment - correct answer The unemployment that doesn't go away on its own Emplo...
PassPointExams
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Examen

ASU ECN 211 Exam 3 with 100% correct answers
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5

enero 2024

2023/2024

A+
What is a recession? - correct answer economic contraction; two straight quarters of negative GDP growth What is a boom? - correct answer economic expansion; boom length does not predict a recession What are the characteristics of a good economy? - correct answer lots of job openings, firms are raising wages to attract workers, asset values are rising, consumers borrow and spend money freely What are the characteristics of a bad economy? - correct answer new job openings are sca...
PassPointExams
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Examen

ASU Econ 211 Final Exam 2024 with 100% correct answers
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10

enero 2024

2023/2024

A+
What does a production possibilities frontier display? - correct answer Possible combinations of output an economy can produce given available factors of production and technology. What is a normative statement? - correct answer Policymakers should increase the minimum wage to improve standard of living. The opportunity cost of helping a friend move is... - correct answer the next best use of the time and energy spent helping your friend. An entity has a comparative advantage if i...
YANCHY
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Examen

ECN 211 Exam 2 2024 with 100% correct answers
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10

enero 2024

2023/2024

A+
GDP (Gross Domestic Profit) - correct answer the total market value of all final/finished goods and services produced within a country in a given period of time Not Included in GDP - correct answer -goods not bought/sold in a market (home production, charity work, free things) -intermediate goods -used items -illegal goods and services -goods produced in another country -financial transactions (bonds, stocks, etc.) -transfer payments (welfare, unemployment, etc.) Expenditure Appr...
YANCHY
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