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Straighterline ECO 210 Macroeconomics Final Study Guide Exam Questions and Answers 2024/2025( A+ GRADED 100% VERIFIED). $11.49   Add to cart
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Straighterline ECO 210 Macroeconomics Final Study Guide Exam Questions and Answers 2024/2025( A+ GRADED 100% VERIFIED).
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Straighterline ECO 210 Macroeconomics Final Study Guide Exam Questions and Answers 2024/2025( A+ GRADED 100% VERIFIED).

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  • September 25, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • straighterline eco 210 macroeconomics final study
  • business cycle ans fluctuations in the general
  • civilian labor force ans number of people 16 ye
  • unemployment ans describes a person not curren

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  • Straighterline ECO 210 Macroeconomics
  • Straighterline ECO 210 Macroeconomics

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Straighterline ECO 210 Macroeconomics
Final Study Guide
Business Cycle - ANS Fluctuations in the general level of economic activity measured by
variables such as the rate of unemployment and changes in real GDP.

Civilian Labor Force - ANS Number of people 16 years of age and older who are either
employed or unemployed.

Unemployment - ANS Describes a person not currently employed who is actively seeking
employment or waiting to begin or return to a job.

Labor Force Participation Rate - ANS Number of people in the civilian labor force 16 years of
age or older who are employed or actively seeking work.

Frictional Unemployment - ANS Unemployment due to constant changes in the economy that
prevent qualified unemployed workers from being immediately matched with job openings.

Structural Unemployment - ANS Changes in the basic characteristics of the economy
preventing the matching up of available jobs with available workers due to a lack of required
skills.

Cyclical Unemployment - ANS Unemployment due to recessionary business conditions and
inadequate labor demand.

Full Employment - ANS Level of employment consistent with unemployment due only to
frictional and structural unemployment.

Inflation - ANS Distorts price information, results in less productive resource use, and reduces
investment.

Fiscal Policy - ANS Use of government taxation and spending policies to achieve
macroeconomic goals.

Monetary Policy - ANS Deliberate control of the money supply and credit conditions to achieve
macroeconomic goals.

Money Supply - ANS Supply of currency, checking account funds, and savings account used as
a means of payment.

, Goods and Services Market - ANS Market for final-user goods and services where everything in
GDP is counted.

Resource Market - ANS Encompasses all resources contributing to current output, with prices
determined by supply and demand.

Loanable Funds Market - ANS Coordinates borrowing and lending decisions of businesses and
households, including commercial banks, savings associations, and stock markets.

Saving - ANS Portion of after-tax income not spent on consumption.

Foreign Exchange Market - ANS Market where currencies of different countries are bought and
sold, determined by international trade.

Interest Rate - ANS Percentage of the amount borrowed that must be paid to the lender in
addition to the repayment of the principal.

Aggregate Demand (AD) - ANS Total demand for goods and services within a particular market.

Aggregate Supply (AS) - ANS Shows the relationship between a nation's price level and the
quantity of goods supplied by producers.

Equilibrium - ANS Balanced forces of buyers and sellers where buyers are willing to purchase
all units that sellers will supply at the current price level.

Real Wage Rate - ANS Where labor supply equals labor demand in the resource market.

Real Interest Rate - ANS Reflects the actual burden to borrowers and payoff to lenders after
accounting for inflation.

Inflationary Premium - ANS Affects the money interest rate by adding an inflation expectation
component to the real interest rate.

Trade Deficit - ANS Occurs when imports exceed exports.

Trade Surplus - ANS Occurs when exports exceed imports.

Anticipated Changes - ANS Fully expected by economic participants.

Unanticipated Changes - ANS Catch people by surprise.

Shift of Aggregate Demand - ANS Indicates decision makers will purchase a larger quantity of
goods and services at each different price level.

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