Econ 252 Study guides, Class notes & Summaries

potential workers - Everyone in the total population except: • Children under 16 years • Active military personnel • Institutionalized persons (nursing homes or jail) number of potential workers - 254.1 Million number of non potential workers - 67.3 million 3 categories of potential workers - Employed Unemployed Not in labor force Employed - persons hold a paid full-time or part-time job Unemployed - persons without a job who have actively searched for one over the last four wee...

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 each wage When output price falls, less labor is dem...

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 unemployment move negatively real GDP...

Table of Contents ABOUT TJC 9 Board of Trustees................................................................................ 9 Accreditation........................................................................................ 9 TJC Mission Statement...................................................................... 9 TJC Vision Statement......................................................................... 9 TJC Civility Statement...................................................

ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES Multiple Choice Questions(ch6) 32. The set of decisions that managers make to assist the organization to achieve its goals is known as: A) strategy. B) scenario planning. C) SWOT analysis. D) diversification. E) related diversification. Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 33. A broad statement of the organization's purpose, products, and customer base that differentiate the organization from its co...

This study guide covers all concepts up to the first exam and/or the first seven chapters of the course. Each chapter is covered in detail and includes important definitions, equations, graphs, concepts, and more! I used these notes as my primary source of study for the exam and received an A in the course. I created study guides not only for this course, but the majority of my courses at Purdue. Through my thorough construction of these guides, I earned an overall GPA of a 3.81 from the Krann...

ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES32. The set of decisions that managers make to assist the organization to achieve its goals is known as: A) strategy. B) scenario planning. C) SWOT analysis. D) diversification. E) related diversification. Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 33. A broad statement of the organization's purpose, products, and customer base that differentiate the organization from its competitors is known as: A) a funct...

Econ 121 Final Exam Review ● Chapter 1 Quick Check: 1. Accounting is the information system that… 2. Which of the following is not an external user of a business’s financial system? 3. Generally Accepted Accounting Principles (GAAP) are currently formulated by the… 4. Which type of business organization is owned by only one owner? 5. Which of the following characteristics best describes a corporation? 6. Which of the following requires accounting information to be complete, ne...

ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGESECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES Multiple Choice Questions(ch6) 32. The set of decisions that managers make to assist the organization to achieve its goals is known as: A) strategy. B) scenario planning. C) SWOT analysis. D) diversification. E) related diversification. Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 33. A broad statement of the organization's purpose, products, ...

ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGESECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES Multiple Choice Questions(ch6) 32. The set of decisions that managers make to assist the organization to achieve its goals is known as: A) strategy. B) scenario planning. C) SWOT analysis. D) diversification. E) related diversification. Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 33. A broad statement of the organization's purpose, products, ...