Ecn 211 final Study guides, Class notes & Summaries

ECN 211 Final Exam Terms Demand-Pull Inflation Correct Answer-increases in the price level (inflation) resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand Cost-Push Inflation Correct Answer-increases in the price level (inflation)resulting from an increase in resource costs (for example, raw material prices) and hence in per unit production costs; inflation caused by reductions in aggregate supply Wealth Effect Correct Ans...

In economics, we measure the cost of something as: - Answer- What you give up to get it. If output rises and unemployment falls, the central bank must have done what to the money supply? - Answer- Increase Real GDP will decrease: - Answer- Only when production of goods and services decrease In the U.S. minimum-wage laws create significant unemployment for: - Answer- Teenagers but not workers such as experienced plumbers. If you want to measure and record economic value, you will prim...

ECN 211 Final Hill ASU 70 Questions with Complete Solutions 2 problems with borrowing - Correct Answer risk and foolishness invest for 2 reasons - Correct Answer return is high, cost of borrowing is low When should the government borrow and save? - Correct Answer borrow in bad times, save in good times risk - Correct Answer borrowing to invest, does not pay off the way it was expected foolishness - Correct Answer people with lots of credit are often riskier and make bad decisions ...

ECN 211 Final ASU Exam Questions With Answers The opportunity cost of an item is.... - ANS what you give up to get that item Total output in an economy increases when each person specializes because - ANS each person spends more time producing that product in which they have a comparative advantage in. The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same a...

The opportunity cost of an item is.... - correct answer what you give up to get that item Total output in an economy increases when each person specializes because - correct answer each person spends more time producing that product in which they have a comparative advantage in. The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same amount of that good, - correc...

ECN 211 Final Exam with complete solution

ECN 211 ASU Final Exam With Correct Answers Graded A+...

ECN 211 Final Exam review with complete solution

ECN 211 FINAL ASU EXAM 2023/2024 LATEST EXAM| VERIFIED AND ACCURATE QUESTIONS AND ANSWERS LATEST UPDATE| THIS IS A GUARANTEED PASS|

ECN 211 Final Test Exam Questions & Revised Correct Answers With Explanation Latest Update | Already Passed!! 1. When economic growth ___, fiscal policy should be ____. a. slows; contractionary b. accelerates; accelerated c. slows; expansionary d. accelerates; expansionary - ANSWER : slows, expansionary 1. Expansionary monetary policy aids the economy by a. encouraging imports through a lower exchange rate. b. encouraging exports through a higher exchange rate. c. encouraging imp...