Ecn 211 exam 3 Study guides, Class notes & Summaries

ECN 211 Exam 3 ASU Hill questions with correct answers What is a recession? Correct Answer-economic contraction; two straight quarters of negative GDP growth What is a boom? Correct Answer-economic expansion; boom length does not predict a recession What are the characteristics of a good economy? Correct Answer-lots of job openings, firms are raising wages to attract workers, asset values are rising, consumers borrow and spend money freely What are the characteristics of a bad economy?...

What is a recession? - correct answer economic contraction; two straight quarters of negative GDP growth What is a boom? - correct answer economic expansion; boom length does not predict a recession What are the characteristics of a good economy? - correct answer lots of job openings, firms are raising wages to attract workers, asset values are rising, consumers borrow and spend money freely What are the characteristics of a bad economy? - correct answer new job openings are sca...

Uses of Money - Answer 1. Store of Value 2. Unit of Account 3. Medium of Exchange Fiat Money - Answer - made valuable by law - controlled by the government - used in developed countries Benefits of Fiat Money - Answer Montetary Policy & low cost to create Con of Fiat Money - Answer Overproduction can occur Liquidity - Answer - money is the most liquid item - anything can be money Level Of Liquidity - Answer checking account -> savings -> stocks/bond...

ECN 211 ASU Exam 3 With Questions and Correct Answers. Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - ANSWER a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - ANSWER the short-run fluctuations of the economy Economic Fluctuations - ANSWER -are irregular and unpredictable -most macroeconomic variables ...

Recession - correct answer -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - correct answer a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - correct answer the short-run fluctuations of the economy Economic Fluctuations - correct answer -are irregular and unpredictable -most macroeconomic variables measuring i...

ECN 211 ASU Exam 3 With Questions and Correct Answers. Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - ANSWER a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - ANSWER the short-run fluctuations of the economy Economic Fluctuations - ANSWER -are irregular and unpredictable -most macroeconomic variables ...

ECN 211 ASU Exam 3 With Questions and Correct Answers. Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. -caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply Depression - ANSWER a severe period of falling incomes and rising unemployment ex. Great Depression The Business Cycle - ANSWER the short-run fluctuations of the economy Economic Fluctuations - ANSWER -are irregular and unpredictable -most macroeconomic variables ...

ECN 211 ASU Exam 3 Studyguide 2024...

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