Econ 203 Midterm Exam UPDATED ACTUAL Questions and CORRECT Answers
0 view 0 purchase
Course
Econ 203
Institution
Econ 203
Econ 203 Midterm Exam UPDATED
ACTUAL Questions and CORRECT
Answers
three main indicators of performance - CORRECT ANSWER- rate of growth of output of
goods and services, rate of inflation (price level), employment/unemployment rate
Rate of growth of real gdp - CORRECT ANSWER- real gdp y2 - ...
Econ 203 Midterm Exam UPDATED
ACTUAL Questions and CORRECT
Answers
three main indicators of performance - CORRECT ANSWER- rate of growth of output of
goods and services, rate of inflation (price level), employment/unemployment rate
Rate of growth of real gdp - CORRECT ANSWER- real gdp y2 - real gdp y1/real gdp y1 x
100
unemployment rate - CORRECT ANSWER- (labour force - employed)/labour force x 100
real gdp - CORRECT ANSWER- nom gdp/gdp deflator x 100
per capita rgdp - CORRECT ANSWER- rgdp/population
downward sloping ad results from 3 effects - CORRECT ANSWER- interest rate,
substitution, wealth effect
slope of AD - CORRECT ANSWER- changes in p/changes in y
output gap - CORRECT ANSWER- Y-Yp/Yp x 100
if Y - Yp < 0 - CORRECT ANSWER- recessionary gap
if Y - Yp > 0 - CORRECT ANSWER- inflationary gap
Y = Yp - CORRECT ANSWER- full employment
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.