ECN1 Study guides, Class notes & Summaries

This summary will help you to pass your first Economics exam at the Hanzehoogeschool, Groningen.

Question Question Points 1. Many things that society values, such as good health, high-quality education, enjoyable recreational opportunities, and desirable moral attributes of the population, are not measured as part of the GDP. It follows that: a. GDP is not a useful measure of society's welfare. b. GDP is still a useful measure of society's welfare because providing these other attributes is the responsibility of government. c. GDP is still a useful measure of society's welfare because it...

Question If a nation is selling more goods and services to foreigners than it is buying from them, then on net it must be buying assets abroad. a. True b. False 2. If saving is greater than domestic investment, then: a. there is a trade deficit and Y > C I G. b. there is a trade deficit and Y < C I G. c. there is a trade surplus and Y > C I G. d. there is a trade surplus and Y < C I G. 3. If interest rates rose more in Germany than in the U.S. and other things remaine...

Question Question Points 1. As chief financial officer you sell newly issued bonds on behalf of your firm. Your firm is: a. borrowing indirectly. b. borrowing directly. c. lending directly. d. lending indirectly. 2. In which of the following instances is the present value of the future payment the largest? a. You will receive $1,000 in 5 years and the annual interest rate is 5 percent. b. You will receive $1,000 in 10 years and the annual interest rate is 3 percent. c. You will receive $2,000 in...

Question Question Points 1. A favorable supply shock will cause: a. unemployment to rise and the short-run Phillips curve to shift right. b. unemployment to rise and the short-run Phillips curve to shift left. c. unemployment to fall and the short-run Phillips curve to shift right. d. unemployment to fall and the short-run Phillips curve to shift left. 2. The wealth effect, interest-rate effect, and exchange-rate effect are all explanations for: a. the slope of short-run aggregate supply. b. the...

Detailed notes for the Economic History of Britain and the Modern World module. Very detailed, see the preview. 37 pages total. Focuses on the Industrial Revolution, Victorian Period, Twentieth Century (Britain) as well as famine, state intervention and Bretton Woods (world) and others.

Notes from all the macroeconomics lectures from ECN107 (no workshop style content). Includes notes from relevant chapters of Economics (Begg et al 11th edition) as well as diagrams from lecture slides. Focuses on the IS/LM, AD/AS, fiscal and monetary policy, exchange rates, unemployment and inflation. Very detailed notes and useful summaries (yet still very detailed) from the textbook. 34 pages.

Notes from all the microeconomics lectures from ECN107 (no workshop style content). Includes notes from relevant chapters of Economics (Begg et al 11th edition) as well as diagrams from lecture slides. Focuses on competition, factor markets, market failure, supply and demand. Very detailed notes and useful summaries (yet still very detailed) from the textbook. 34 pages.