Ecn 211 asu Study guides, Class notes & Summaries

ECN 211 ASU Exam 2 - Questions and Answers (2023 / 2024) (Verified Answers)

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

ECN 211 ASU Final Exam Marburger Questions and Answers (2023 / 2024) (Verified Answers)

Recession - Answer- -a period of mildly falling incomes and rising unemployment ex. 2007-2009 -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 measuring income, spending, or product...

Exam 2 - ECN 211 ASU

ECN 211 ASU Final Exam Marburger Questions And Answers The Circular Flow Diagram - ANS Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ANS The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ANS the economy can produce more of everything Opportunity Cost - ANS the cost of what you give up to g...

ECN 211 ASU Final Exam with complete solution