Econ 203 midterm - Study guides, Class notes & Summaries

Econ 203 Midterm Exam Actual Questions and Answers Complete 1. Commercial banks create money by: A. printing them. B. keeping a fraction of deposits as reserves and lending the rest. C. they do not, only the central bank can create money. D. none of the above. 2. What is the role of a commercial bank? A. To maximize profits for its shareholders B. To take customers’ deposits and make loans C. To create money through the banking system D. All the answers are correct 3. Which of th...

Which of he following about the Chi-squared distribution is FALSE a. We use the Chi-squared distribution to perform a test on variance. b. The Chi-squared is not symmetrical. c. Only positive Chi-squared values are possible. d. The Chi-squared distribution is asymptotic to the horizontal axis to the right. e. 1 is an approximation to the center of the distribution. correct answers e. 1 is an approximation to the center of the distribution REASON: The center of Chi-squared distributio...

What three things do you look at to determine living standards? correct answers 1. GDP 2. Life Expectancy 3. Literacy Rate There is a high correlation between living standards and ... correct answers GDP Per Capita Who is Oliver Blanchard. What did he say about the financial crisis and recovery? correct answers One of the top economists. Said that on average GDP does not go back to its old trend path, but rather remains below it permanently. (GDP goes down but not the Growth rate.) ...

Econ 203 Midterm Exam UPDATED ACTUAL Questions and CORRECT Answers three main indicators of performance - CORRECT ANSWER- rate of growth of output of goods and services, rate of inflation (price level), employment/unemployment rate Rate of growth of real gdp - CORRECT ANSWER- real gdp y2 - real gdp y1/real gdp y1 x 100 inflation rate - CORRECT ANSWER- cpi y2 - cpi y1/cpi y1 x 10

ECON 203 PRACTICE MIDTERM EXAM QUESTIONS AND ANSWERS INTRODUCTION TO MACROECONOMICS (CONCORDIA UNIVERSITY)

ECON 203 PRACTICE MIDTERM EXAM QUESTIONS AND ANSWERS INTRODUCTION TO MACROECONOMICS (CONCORDIA UNIVERSITY)

Economics - Correct Answer Economics is the study of choices made by people in the presence of scarcity Microeconomics - Correct Answer the study of the economic behavior and decision making of small units, such as individuals, families, and businesses Macroeconomics - Correct Answer the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth economic models - Correct Answer Should be simple, general, useful. Not realistic Assumptions fo...

study guide talks about everything thats gonna be on your midterm.