Econ528 Study guides, Class notes & Summaries

Econ 350 Exam Questions with 100% Correct Answers Why do men want more children? - Cost of childbearing greater for women, child pen, OC of career, HC accum, more info about costs to women, mental loads, double burden. Why has it changed that men want more children? - Social norms, cost of living, increased demand for female labour, increased edu, cultural changes delaying marriage and fertility. When is FLFP lowest? - During childbearing years Is childbearing endogenous? - Yes. It's a...

Econ 350 Exam Questions with 100% Correct Answers The yield to maturity for a discount bond is ________ related to the current bond price. A) negatively B) not C) positively D) directly - A) negatively Municipal bonds have default risk, yet their interest rates are usually lower than the rates on default-free Treasury bonds. This suggests that A) the benefit from the tax-exempt status of municipal bonds equals their default risk. B) the benefit from the tax-exempt status of municipal...

Econ 247 Exam Questions with 100% Correct Answers Total Revenue - the amount a firm receives for the sale of its output Total Cost - the amount that the firm pays to buy inputs Total Profit - total revenue - total cost Explicit costs - input costs that require an outlay of money by the firm Implicit cost - Do not require a cash outlay economic profit - total revenue minus all opportunity costs, explicit and implicit of producing the good and services sold. Accounting profit - total reve...

ECON 214 Exam #3 Questions with 100% Correct Answers What are the 3 key components for economic growth? - 1. resources 2. technology 3. institutions True/False: GDP is a function of land, labor, and capital inputs. - True True/False: More physical capital available means more production. - True Capital stock in wealthy nations is (lower/higher) than capital in developing nations. - Higher True/False: Investment is usually increasing during periods of expansion. - True What is the pri...

Econ 213 Exam Questions with 100% Correct Answers business cycles - Alternating increases and decreases in economic activity that are typically punctuated by periods of recession and recovery. yield curve - Shows the relationship between the interest rate earned on a bond (measured on the vertical axis) and the length of time until the bond's maturity date (shown on the horizontal axis). circular flow diagram - Illustrates how households and firms interact through product and resource m...

ECON 200 Exam Questions with 100% Correct Answers Economics is best defined as ____________. A.) How people make money and profits in the stock market B.) Making choices from an unlimited supply of goods and services C.) Making choices with unlimited wants but facing a scarcity of resources D.) Controlling a budget for a household - Making choices with unlimited wants but facing a scarcity of resources When an economy produces more houses and fewer typewriters, it is answering the _____...

Econ 200 Exam Questions with 100% Correct Answers Economies of scale - A natural monopoly achieves ____ over the entire range of market supply: the maximum amount of output attainable from a given combination of factor inputs - A production function describes: Marginal Physical Product - The change in total output that results from one additional unit of input is the: Diminishing Returns - If more of an input factor is used, while holding other inputs constant, a firm will eventually ex...

Econ 102 Exam Questions with 100% Correct Answers The point where economic activity bottoms out in a full business cycle is known as: - The point where economic activity bottoms out in a full business cycle is known as the trough. The low point in a business cycle which precipitates a period of economic growth is known as the trough. A recession is the entire period of time where real GDP is falling. The phrase pre-expansion is not commonly used. One of the primary goals of most governme...

ECON 2HH3 - Chapters 5,7,8 Exam Questions with 100% Correct Answers The Solow growth model predicts that aggregate output a. will grow at the rate of the labour force growth in the long run. b. will grow at the rate of the population growth in the long run. c. will grow at the rate of the growth in capital per worker in the long run. d. will grow at the rate of the growth in income per worker in the long run. e. will be maximized in the long run. - a. will grow at the rate of the labour ...

ECON 2HH3 Exam Questions with 100% Correct Answers National savings must equal - Yd- NFP + C + G The consumer's work-lesure choice problem focuses on how a consumer's work leisure decision is affected by the consumer's: - preferences and constraints A lump-sum tax is a tax that - does not depend on the actions of the economic agent being taxed Since 1870, the typical Canadian: - became almost fourteen-times as rich If deviations from trend in a macroeconomic variable are negatively ...