Econ 211 exam 2 unl 2024 - Study guides, Class notes & Summaries

Econ 211 Exam 2 – UNL (2024).

ECON 211 Exam 1 (UNL) Study Guide with Complete Solutions Economists study.... - Answer️️ -all human behavior Economic agent - Answer️️ -an individual or a group that makes choices (examples: consumer eating bacon cheeseburger or tofu burger, parent enrolling child in public or private school) scare resources - Answer️️ -things that people want, where the quantity that people want exceeds the quantity that is available scarcity - Answer️️ -exists because people have unlim...

Econ 211 UNL final exam Study Guide with Complete Solutions make business cycles more severe - Answer️️ -a law requiring the federal budget to be balanced each year would likely: $280 - Answer️️ -nominal GDP in year 4 is equal to (table): $125 million increase - Answer️️ -when real GDP is $700 billion, there will be a _______ in unplanned inventory investment. when the amount of human capital per worker and the state of technology are fixed, successive increases in the amount...

Econ 211 Exam 2 – UNL Study Guide with Complete Solutions 2 ways economic growth is measured - Answer️️ -Nominal and real GDP Nominal GDP - Answer️️ -often appear higher than real GDP, not adjusted for inflation (GDP17=P17 x Q17) Real GDP - Answer️️ -adjusted for inflation (GDP17=P09 X Q17) GDP is reported.. - Answer️️ -Quarterly (Advanced, Premlim and final) Economic growth is measured as - Answer️️ -a % change in real GDP on an annual basis (real GDP2 - real GDP 1...