Recessions - Study guides, Class notes & Summaries

Microeconomics studies the allocation of A) decision makers. B) scarce resources. C) models. D) unlimited resources. correct answers b Managerial economics A) describes how pay for managers is set. B) ensures managers always make good decisions. C) helps managers make decisions in the face of scarcity. D) explains which products consumers will buy. correct answers c Microeconomic models are used to A) make predictions. B) explain real-life phenomena. C) evaluate production alter...

Classical Economists correct answers - Group that from the 1779s up to the great depression dominated economic thinking. - They believed recessions would naturally cure themselves because the price system would automatically restore to full employment - The founder was Adam Smith - Believed in " laissez faire" which means "leave it alone" and was a theory that our economy was self regulating & it would correct itself without government intervention - Believed that forces of supply & d...

Purdue ECON 252 Final Exam Questions and Answers Already Passed Properties of economic fluctuations 1) Co-movement in economic aggregates 2) Limited predictability 3) Persistence in the rate of growth The Great Depression of 1929‒1933 illustrates the three key properties of economic fluctuations Aggregate A whole formed by combining several (typically different) elements Marginal product of labor When output price rises, the labor demand curve shifts to the right - more labor is demanded at...

Econ Test 4 UPDATED Actual Exam Questions and CORRECT Answers Discretionary fiscal policy refers to - CORRECT ANSWER- intentional changes in taxes and government expenditures made by Congress to stabilize the economy Countercyclical discretionary fiscal policy calls for - CORRECT ANSWER- deficits during recessions and surpluses during periods of demand-pull inflation

ECN 211 - Final Exam Study Guide Questions with Complete Solutions High and unexpected inflation has a greater cost - Correct Answer for those who have fixed nominal wages than for those who have nominal wages that adjust with inflation. When deflation exists, - Correct Answer the real interest rate is greater than the nominal interest rate. When the money market is drawn with the value of money on the vertical axis, an increase in the money supply causes the equilibrium value of money - ...

RMI 2101 Exam 1 (Temple University) Already Graded A Risk is the uncertainty about future losses or outcomes Probability likelihood that an outcome or event will occur Pure Risk is a chance of loss or no loss but no chance for gain; always undesirable Good Example of Pure Risk? You own a building, it will either burn or not burn, either way your financial responsibility remains constant. Pay the for the up keep of the building or suffer financial loss if building burns. Specu...

Money & Banking Final from practice test and actual exams A rising stock market index due to higher share prices a. decreases people's wealth, but is unlikely to increase their willingness to spend b. increases people's wealth and as a result may increase their willingness to spend c. decreases the amount of funds that business firms can raise by selling newlyissued stock d. increases people's wealth, but is unlikely to increase their willingness to spend - CORRECT ANSWER b. increase...

Bloomberg Questions and Answers Already Passed Analysts maintain estimates. What is in the Relevance column? Volume of alerts set up for each indicator. The greater the investor interest, the greater the relevance. Both are at full strength for PMI and employment. Business confidence (PMI): business people make large investments and hire people when they think there will be additional demand in the future. BEST LEADING INDICATOR TO ALERT FORTHCOMING TURNING POINTS. Can PMI indica...

Econ 252 Exam 3 Latest Update Graded A Recession episodes of negative economic growth lasting at least two quarters Expansion a period of positive growth. Expansions are periods between recessions. Co-movement Many aggregate macroeconomic variables grow or contract together during booms and busts, exhibiting a pattern of positive or negative co-movement. Variables such as real consumption, real investment, and employment move positively with real GDP: Pro-cyclical. Variables such as unemployme...

What is a Business? - Answer-an organization that provides goods and services to earn a profit What is a nonprofit? - Answer-any profits generally put back into the organization, instead of going to owners/shareholders Examples of non-profit goals: - Answer-- environmental preservation - Mental health - decreasing homelessness Roles of Business in Society (5) - Answer-- employment -production of goods/services we want/need - innovation of new goods/services - community leadership/suppor...