Ecn 202 Guides d'étude, Notes de cours & Résumés

Microeconomics - correct answer the study of how individual households and firms make decisions and how they interact with one another in markets Macroeconomics - correct answer the study of the economy as a whole What is the goal of macroeconomics? - correct answer to explain changes that affect many households, firms, and markets simultaneously GDP deflator - correct answer a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100 GDP deflato...

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...

Utility - correct answer Pleasure or satisfaction obtained from consuming a good or service Economizing Problem - correct answer Wants exceed means Economizing Problem - correct answer Limited resources vs. unlimited wants Individuals Economizing Problem - correct answer Budget Line Society's Economizing Problem - correct answer Production Possibilities Frontier (PPF): Factors of production - correct answer the resources the economy uses to produce goods & services, i...

Economics - correct answer the study of how society manages its scarce resources Macroeconomics - correct answer the study of economy-wide phenomena (ex. the federal deficit, the rate of unemployment and policies to improve our standard of living) Microeconomics - correct answer the study of how households and firms make decisions and how they interact in markets Mixed Economies - correct answer a system with free markets, but with some government intervention (ex. U.S.) Scar...

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...

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...

Refer to the figure. If the government imposes a minimum wage of $9, then how many workers will be employed? - correct answer 6,000 Which of the following Fed actions would increase the money supply? - correct answer Buy bonds A soft drink cost $1.75 in 2019. The value for the CPI in 1965 is 60.2 and the value of the CPI for 2019 is 236.2, what is the price of a soft drink in 1965 dollars? - correct answer $0.45 Refer to the figure. If the economy starts at Y, then W represents: -...

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...

ECN 211 Exam 2 - Marburger Questions and Answers (2023 / 2024) (Verified Answers)

Microeconomics - correct answer the study of how individual households and firms make decisions and how they interact with one another in markets Macroeconomics - correct answer the study of the economy as a whole What is the goal of macroeconomics? - correct answer to explain changes that affect many households, firms, and markets simultaneously GDP deflator - correct answer a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100 GDP deflato...