Ecn 211 exam - Study guides, Class notes & Summaries

ECN 211 Exam 3 – Marburger Exam | Questions and Correct Answers | Latest Update 2024/2025 Financial Markets - Answer -People save money that they don't intend to spend anytime soon Businesses need money to finance capital investment The purpose of financial markets is to match up savings with investment Banks are the primary financial institutions that seek to match up savings with investment Capital Investments - Answer -Capital investment allows a country to produce more goods an...

GDP is CORRECT ANSWER value of all final goods and services produced within a country in a given period of time. Y = C + I + G + NX CORRECT ANSWER Y = economy's total expenditure C = consumption in economy I = imports in economy G = government spending NX = net exports Net exports equal CORRECT ANSWER exports minus imports CPI is used to CORRECT ANSWER monitor changes in the cost of living over time Inflation rate CORRECT ANSWER percentage change in the price level from the prev...

ECN 211 Exam 2 Latest Update ...

GDP (Gross Domestic Profit) - correct answer the total market value of all final/finished goods and services produced within a country in a given period of time Not Included in GDP - correct answer -goods not bought/sold in a market (home production, charity work, free things) -intermediate goods -used items -illegal goods and services -goods produced in another country -financial transactions (bonds, stocks, etc.) -transfer payments (welfare, unemployment, etc.) Expenditure Appr...

ECN 211 Exam 2 – Marburger | Questions and Correct Answers | Latest Update 2024/2025 Tariff - Answer -A tax on imported goods Who benefits/loses from free trade? - Answer -1. Foreign producers of steel (exports steel to US) 2. Buyers of steel and steel-related products (price falls and quantity increases) Who is worse off because of free trade? 1. Domestic producer of steel (sells lower quantity and at a lower price) Who benefits from tariffs? (US steel producers example) - Answer -...

Tariff A tax on imported goods Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to US) 2. Buyers of steel and steel-related products (price falls and quantity increases) Who is worse off because of free trade? 1. Domestic producer of steel (sells lower quantity and at a lower price) Who benefits from tariffs? (US steel producers example) 1. Domestic producers of steel (sells more at a higher price) Who is worse off because of the tariff? 1. Foreign produc...

ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions. GDP is - ANSWER value of all final goods and services produced within a country in a given period of time. Y = C + I + G + NX - ANSWER Y = economy's total expenditure C = consumption in economy I = imports in economy G = government spending NX = net exports Net exports equal - ANSWER exports minus imports CPI is used to - ANSWER monitor changes in the cost of living over time Inflation rate - ANSWER percenta...

ECN 211 Exam 1 questions with correct answers

Tariff A tax on imported goods Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to US) 2. Buyers of steel and steel-related products (price falls and quantity increases) Who is worse off because of free trade? 1. Domestic producer of steel (sells lower quantity and at a lower price) Who benefits from tariffs? (US steel producers example) 1. Domestic producers of steel (sells more at a higher price) Who is worse off because of the tariff? 1. Foreign produc...

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...