Ngdp Study guides, Class notes & Summaries

ECO 211 WCC FINAL EXAM STUDY GUIDE, Questions and answers, rated A+ Why do we assume that the money supply curve is vertical? - -Because interest rates don't affect it How do changes in the money supply affect the money supply curve? - -Move it right or left--- Money supply curve is vertical (interest rates do not affect it) Explain the difference between the transactions and asset demand for money. Link them to the appropriate measure of the money supply - -The transaction demand fo...

WCC ECO 211 FINAL EXAM STUDY GUIDE QUESTIONS AND VERIFIED ANSWERS 2023/2024 Why do we assume that the money supply curve is vertical? - correct answer Because interest rates don't affect it How do changes in the money supply affect the money supply curve? - correct answer Move it right or left--- Money supply curve is vertical (interest rates do not affect it) Explain the difference between the transactions and asset demand for money. Link them to the appropriate measure of the ...

Demand Curve Shift Upward (direct relationship-positive shift) The price of subsitute goods, expectations of price changes, income for normal goods, and extent of market Demand Curve Shift Downward (inverse relationship-neg. shift) The price of complement good, income for inferior goods, and consumer boycotts SWOT analysis strengths, weaknesses, opportunities, threats Three common measures of price inflation: 1. The Consumer Price Index (CP) 2. The Producer Price Index (PPI) 3. The GDP ...

CHAPTER 1: Introduction to Macroeconomics MULTIPLE CHOICE 1. A central topic of study in macroeconomics is ________, while a central topic of study in microeconomics is ________. a. the cosmos; particle physics b. the overall performance of an economy; an individual market c. an individual market; the overall performance of an economy d. the performance of international trade; the individual firm e. consumer behavior; firm behavior ANS: B DIF: Easy REF: 1.1 TOP: I. MSC: Remember...

The document contains notes that goes over the first 3 quizzes of the course and are really in depth in terms of helping you study

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...

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...