Rgdp Study guides, Class notes & Summaries

1. When a firm sells a good or a service, the sale contributes to the nation’s income a. only if the buyer of the good or service is a household. b. only if the buyer of the good or service is a household or another firm. c. whether the buyer of the good or a service is a household, another firm, or the government. d. We have to know whether the item being sold is a good or a service in order to answer the question. 2. Estimates of the values of which of the following non-market goo...

Sophia (Macroeconomics) - Unit 2 Milestone Questions and Answers Already PassedWhich statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price leve...

Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price level and RGDP. If an excise tax is imposed on a product, which of the following wil...

Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price level and RGDP. If an excise tax is imposed on a product, which of the following wil...

Sophia (Macroeconomics) - Unit 2 Milestone Questions and Answers Already Passed Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price level an...

Macroeconomics Questions and Answers Rated A+ What economic rule is generally used in the decision of a regulator to impose a binding price constraint? When the benefit to a specific group of people is greater than deadweight loss If the short run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the LRAS curve, which statement below is true? Producers are using inventory faster than it can be replaced. If a company was forced to adhere to minim...

Sophia (Macroeconomics) - Unit 2 Practice Milestone Already Passed If the price of gold is rising, which of the following can we also expect to be true? Quantity demanded for gold will be decreasing. What will finding out that two of her children have severe peanut allergies cause for Jenna's demand for almond butter? The almond butter demand curve will make a shift to the right. Some factors affect production decisions, causing a shift in supply. Other factors create movement along the supp...

1. When a firm sells a good or a service, the sale contributes to the nation’s income a. only if the buyer of the good or service is a household. b. only if the buyer of the good or service is a household or another firm. c. whether the buyer of the good or a service is a household, another firm, or the government. d. We have to know whether the item being sold is a good or a service in order to answer the question. 2. Estimates of the values of which of the following non-market goods or servi...

FINAL EXAM: ECON102 Introduction to Macroeconomics N. Aman 1) You may use your textbook and/or class notes. 2) You may not discuss this exam with anyone either face to face or via email nor you may copy answers from the Internet sources. Your answers must reflect your own knowledge in the relevant topics written in your own words. 3) The Maximum Score Points Available on this exam: 40, each portion of each question has its potential raw score contribution as indicated. 4) Pleas...

1) Here’s a quote from Fed head Janet Yellen on at a meeting in Cleveland on July10 this year. (see then click news and events…Regarding inflation, as I mentioned earlier, the recent effects of lower prices for crude oil andfor imports on overall inflation are expected to wane during this year. Combined with furthertightening in labor and product markets, I expect inflation will move toward the FOMC’s 2percent objective over the next few years. Importantly, a number of different surveys i...