Econ 2301 exam 3. Principles of Macroeconomics (ECON 2301) 2022-10-20

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Econ 2301

econ 2301 exam 3

B promised benefit payouts are growing more rapidly than likely sources of revenues, indicating a future inability to keep the system operating. If the government increases spending but does not raise taxes, A aggregate demand will increase without any effect on the price level. The total gains from trade within a price system is A the area beneath the market demand curve and above the market clearing price plus the area above the market supply curve and beneath the market clearing price. Make sure you spell your name correctly, starting with your last name and then your first name. C total planned real expenditures equal real GDP. D smaller for a government-imposed price ceiling that is lower than that market clearing price.

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Econ 2301

econ 2301 exam 3

A Real GDP will increase in both the short run and the long run. B having fewer needs and more wants in the future. C The demand for coffee would decrease. F Virtual 8:30-10:30 a. What is true about government budget deficits and surpluses since 1940? D import the goods in which it has an absolute advantage. B Jane purchases a new car for commuting to and from school.


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Principles of Macroeconomics (ECON 2301)

econ 2301 exam 3

The market wage for trained nurses is currently above the equilibrium wage. A Investment is primarily the market value of all shares of stock held by the public. D equal to zero. B The aggregate supply curve shifts left; the aggregate demand curve is not affected; price level increases; real GDP decreases. B the model's ability to predict future economic activity. Economic goods are A abundant goods, about which we must constantly make decisions about their best use.

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Econ 2301 exam 1 review

econ 2301 exam 3

College students living off-campus frequently consume large amounts of ramen noodles and boxed macaroni and cheese. Which of the following actions would you recommend to the president of the United States? C a decrease in planned investment and an increase in planned consumption. B the area beneath the market supply curve and above the market clearing price plus the area above the market demand curve and beneath the market clearing price. Corporate profits are A taxed at too low a rate. B a reduction in real GDP with falling prices if the economy was below or at full employment. An advanced market economy would tend to use both labor intensive and capital intensive production methods.

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ECON 2301 Exam 3

econ 2301 exam 3

B generates an equal increase in total spending because government spending makes up part of total spending. A The price system allows resources to flow from low-valued uses to high-valued uses. C goods that are scarce, for which the quantity demanded exceeds the quantity supplied at a zero price. A The aggregate supply curve shifts right; the aggregate demand curve is not affected; price level decreases; real GDP increases. C increased; causing net exports to decrease and aggregate demand to fall.

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ECON

econ 2301 exam 3

The hypothesis that people are nearly, but not fully rational, cannot possibly fully examine every available choice, and utilize simple rules of thumb in making decisions is known as the A irrationality hypothesis. Which of the following statements is correct? D bounded rationality hypothesis. Suppose the economy is at E and the government uses an expansionary fiscal policy to move the aggregate demand curve to. A A government receives lower tax revenues by raising the tax rate. I need to see the detail.

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ECON 2301 exam 3 Flashcards

econ 2301 exam 3

Scenario - The US economy is currently experiencing recession. A The change in taxes due divided by the change in taxable income B The change in taxable income divided by the change in taxes due C Total taxes due divided by total taxable income D Total taxable income divided by total taxes due 8. C one good is superior to another and drives it out of the market. C the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand. C An individual will neither increase nor decrease the number of hours she is willing to work when the nominal wage rises by 5 percent and the overall price level rises by 5 percent.

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Econ 2301 exam 3 study guide for potential childhealthpolicy.vumc.org

econ 2301 exam 3

Mobile phones or any other form of electronic equipment will not be allowed. In the United States, the idea that the federal government should undertake actions to stabilize business activity A was established in the Declaration of Independence. C supply and demand analysis does not apply. An increase in the availability of labor relative to capital in an economy would tend to increase how labor intensive the production processes in that economy would be. B The quantity of real GDP demanded falls resulting in a movement from point A to point F. B the maximum amount of tax revenue that government must collect each year. B aggregate demand curve is a vertical line.

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Econ 2301 Exam 1 Ch 1, 2, 3 & 24

econ 2301 exam 3

Government payment of a per-unit subsidy for medical care causes the out-of-pocket price that consumers pay for care to be A less than the price that producers receive for providing care. D a new price level will be established at a. D self-interest is of limited relevance in predicting an individual's actions. B consumers to satisfy all their wants. C It refers to a breakdown in wage negotiations between employers and employee unions.


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