Ecn 211 final exam Study guides, Class notes & Summaries
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![ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions.](/docpics/4208452/65a154b277ac6_4208452_121_171.jpeg)
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ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions.
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ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions. 
GDP is - ANSWER value of all final goods and services produced within a country in a 
given period of time. 
Y = C + I + G + NX - ANSWER Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - ANSWER exports minus imports 
CPI is used to - ANSWER monitor changes in the cost of living over time 
Inflation rate - ANSWER percentag...
![ECN 211 ASU Final Exam Marburger questions with correct answers](/docpics/3517072/65155665c791e_3517072_121_171.jpeg)
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ECN 211 ASU Final Exam Marburger questions with correct answers
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ECN 211 ASU Final Exam Marburger questions with correct answers
![ECN 211 FINAL EXAM Questions with 100% Verified Correct Answers Graded A++](/docpics/3978187/657181735ed60_3978187_121_171.jpeg)
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ECN 211 FINAL EXAM Questions with 100% Verified Correct Answers Graded A++
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ECN 211 FINAL EXAM Questions with 100% Verified Correct Answers Graded A++ 
When income increases... - Correct Answer demand for inferior goods decrease and demand for normal goods increase 
 
price change causes a movement along - Correct Answer the demand curve (demand increase=right demand decrease=left) 
 
market quantity demand - Correct Answer sum of all individual demands 
 
What would cause a supply curve to shift right? - Correct Answer increase in supply (example: improvement in produc...
![ECON 211 FINAL asu, ASU Econ 211 Final Exam, ECN 211 : Final Exam Review, ECN 211 Final (Exams 1, 2, 3) ASU Douglas](/docpics/3980585/6571cd98bbdfb_3980585_121_171.jpeg)
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ECON 211 FINAL asu, ASU Econ 211 Final Exam, ECN 211 : Final Exam Review, ECN 211 Final (Exams 1, 2, 3) ASU Douglas
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ECON 211 FINAL asu, ASU Econ 211 Final Exam, ECN 211 : Final Exam Review, ECN 211 Final (Exams 1, 2, 3) ASU Douglas 
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 he or she has a comparative advantage 
 
The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantiti...
![ECN 211 : Final Exam Review questions with correct answers|100% verified|13 pages](/docpics/4950478/66141daa3fe59_4950478_121_171.jpeg)
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ECN 211 : Final Exam Review questions with correct answers|100% verified|13 pages
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ECN 211 : Final Exam Review questions with correct answers 
Real GDP is commonly used for what? Correct Answer-Short run changes. 
 
When real GDP falls, so does what? Correct Answer-- Personal income 
- Corporate profits 
- Consumer spending 
- Investment spending 
- Industrial production 
 
When the overall economy declines that is due to what? Correct Answer-- Reduction in spending in factories 
- Housing 
- Inventory 
 
When real GDP declines, what happens to the unemployment rate? Correct A...
ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
![ASU ECN 211 FINAL EXAM 2024 WITH 100% CORRECT ANSWERS](/docpics/4178629/659d1d9fda768_4178629_121_171.jpeg)
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ASU ECN 211 FINAL EXAM 2024 WITH 100% CORRECT ANSWERS
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Refer to the figure. If the government imposes a minimum wage of $9, then how many workers will be employed? - correct answer 6,000 
 
Which of the following Fed actions would increase the money supply? - correct answer Buy bonds 
 
A soft drink cost $1.75 in 2019. The value for the CPI in 1965 is 60.2 and the value of the CPI for 2019 is 236.2, what is the price of a soft drink in 1965 dollars? - correct answer $0.45 
 
Refer to the figure. If the economy starts at Y, then W represents: -...
![ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE](/docpics/3568901/651fc0b6ed1c0_3568901_121_171.jpeg)
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ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
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ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM 200 
QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
![ECN 211 Final Exam Terms](/docpics/3517056/651555c235fa3_3517056_121_171.jpeg)
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ECN 211 Final Exam Terms
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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 Answer-A change in the real va...
![ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM WITH VERIFIED QUESTIONS AND ANSWERS 100% A GRADED](/docpics/4723804/65efeb328d221_4723804_121_171.jpeg)
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ECN 211 FINAL EXAM ASU LATEST ACTUAL EXAM WITH VERIFIED QUESTIONS AND ANSWERS 100% A GRADED
- Exam (elaborations) • 17 pages • 2024
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ECN 211 FINAL EXAM ASU LATEST ACTUAL 
EXAM WITH VERIFIED QUESTIONS AND 
ANSWERS 100% A GRADED
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