Ecn 211 final exam review Study guides, Class notes & Summaries

ECN 211 : Final Exam Review questions with correct answers Real GDP is commonly used for what? Correct Answer-Short run changes. When real GDP falls, so does what? Correct Answer-- Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? Correct Answer-- Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? Correct A...

ECON 211 FINAL asu, ASU Econ 211 Final Exam, ECN 211 : Final Exam Review, ECN 211 Final (Exams 1, 2, 3) ASU Douglas The Opportunity Cost of an item is - ANS What you give up to get that item Total Output in an economy increases when each person specializes because - ANS Each person spends more time producing that product in which he or she has a comparative advantage The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantiti...

ECN 211 Final Exam Review Questions and Answers (2023 / 2024) (Verified Answers)

ECN 211 Final Exam Review Exam ...

Real GDP is commonly used for what? - correct answer Short run changes. When real GDP falls, so does what? - correct answer - Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? - correct answer - Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? - correct answer It increases. What is the natural r...

ECN 211 Final Exam review Questions With Solutions entails the exchange of goods for goods - ANS Barter all the possible combinations of two goods that can be purchased, given money income and the prices of the goods - ANS The budget line shows? leftward shift in the economy's aggregate demand curve - ANS A contractionary fiscal policy is shown as a: Their face value is greater than their intrinsic value - ANS To say that coins are "token money" means that: Cause and...

ASU ECN 211 FINAL EXAM Review (Chapters 1-4, 6, 10-12, 15-17, 20-22) with complete solution

ECN 211 Final Exam review with complete solution

Real GDP is commonly used for what? - Short run changes. When real GDP falls, so does what? - - Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? - - Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? - It increases. What is the natural rate of unemployment? - 5% or 6%. In the short run, what can money suppl...

ECN 211 Final Exam Review