Keynesian theory - Study guides, Revision notes & Summaries

BMAL 590 MACROECONOMICS EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED An economic recession refers to: a period, typically two consecutive quarters, during which aggregate output declines Deflation refers to: a decrease in the overall price level. Macroeconomics is the branch of economics that deals with: the economy as a whole The school of economic thought that argues that price and wage rigidities do not provide the only reasoning for an active macroeconomic policy fram...

GDP - total value of all goods and services produced in a country in a year Gini Coefficient - a statistical method of modeling/graphing the extent of wealth inequality GDP per capita - Gross domestic product divided by the number of people in the population. infrastructure - the basic systems and structures a state needs to work properly Privitization - the sale of a business that was owned and managed by government to a private company/individual trickle-down - a belief that wealth gaine...

TEST BANK for Macroeconomics in Modules, 3rd Edition by Paul Krugman, Robin Wells. All Chapters (Complete download). 1248 Pages Test Bank for Macroeconomics in Modules, 3e Paul Krugman, Robin Wells (All Chapters) Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources ar...

Multiple Choice Practice Exam Questions EPA1223 The real exam will have (about) 36-40 multiple-choice questions in similar format. Part of the questions concern theory, and are “abstract” in nature; the other questions will be more numerical, asking you to “apply” a model. Question 1. Consider the following two propositions: Proposition I: Fiscal policy is not effective according to neoclassical macro theory, because it leads to crowding out of private demand. Proposition II: F...

Introduction to Business Final Exam - Questions and Answers What are the 3 major indicators of economic conditions? 1) GDP 2) Unemployment Rate 3) Price Indexes The total value of final goods and services produced in a country in a given year. Gross Domestic Product (GDP) The number of civilians at least 16 years old who are unemployed and tried to find a job within the prior 4 weeks. Unemployment Rate A general rise in the prices of goods and services over time. Inflation A situation in which...

If God is dead, Ivan Karamazov insists, everything is permitted An invention of the late 1800s: the light bulb The problem of normativity concerns the gap between is and ought Nietzsche wants science to become more playful Dostoevsky: the vision of the anointed inevitably leads to narcissism A two-level theory includes a deep level that ____ what happens at the surface level. determines and explains Doyle's vision is tragic in that Sherlock Holmes has to mak...

Macroeconomic Data Report 1960-1969 Mikki Patane ECO 202 Milestone One (Slides 1-7) Milestone Two (Slides 8-11) Milestone Three (Slides 12-15) U.S. Economic History Overview of 1960 - 1969 • GDP and Growth • Significant macroeconomic events • Unemployment and Inflation • Keynesian Theory • Interest Rates • Bretton Woods system • Effects on GDP, Global Trade and Global Economy GDP and Growth • Gross Domestic Product (GDP) and Growth • Growth rate of 1960-1...

ECS 4863-ECONOMETRICS ASSIGNMENTS 01 2021-2022. Question 1 1.1 Define Econometrics Econometrics is the analysis of economic phenomena using economic theory, mathematics and statistics. Econometric models are built using mathematical economics to obtain numerical results. 1.2 Explain how econometricians usually analyse a problem - Statement of theory hypothesis: according to Keynes, marginal propensity to consume (MPC), the rate of change of consumption for a unit change in income, is grea...

CFA Level 1 Study Guide Exam Questions and Answers What is the key assumption of technical analysis? - Answer-Market prices reflect both rational and irrational investor behavior What are the 4 different types of Oscillators? - Answer-1. Rate of Change Oscillator (100x the difference between the latest closing price and the closing price n periods earlier) 2. Relative Strength Index (Ratio of total price increases to price decreases) 3. Moving Average Convergence/Divergence 4. Stochasti...

ANALYZED ECONOMIC – 1002 FINAL EXAM The _________ refers to the continually reoccurring periods of expansion and contraction of real GDP - CORRECT ANSWER -business cycle The Business Cycle Reference Dates reported by the NBER keep track of when _________________ in the united states begin and end - CORRECT ANSWER -recessions A _______________ is a very severe and long-lasting recession - CORRECT ANSWER -depression An employed worker is part of the economy's _________________...