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ECN 211 EXAM PACKAGE DEAL GRADED A+
ECN 211 EXAM PACKAGE DEAL GRADED A+
[Meer zien]ECN 211 EXAM PACKAGE DEAL GRADED A+
[Meer zien]Financial Markets - People save money that they don't intend to spend anytime soon 
Businesses need money to finance capital investment 
The purpose of financial markets is to match up savings with investment 
Banks are the primary financial institutions that seek to match up savings with investmen...
Voorbeeld 3 van de 21 pagina's
In winkelwagenFinancial Markets - People save money that they don't intend to spend anytime soon 
Businesses need money to finance capital investment 
The purpose of financial markets is to match up savings with investment 
Banks are the primary financial institutions that seek to match up savings with investmen...
What is money - The most common exchange/means of payment. EX) cash, credit card, food 
Cash and checkable bank deposits are most liquid 
Not the same thing as wealth 
Assets like cars, houses, securities (stocks, bonds, mutual funds) are not money 
Those assets have low liquidity therefore take tim...
Voorbeeld 2 van de 13 pagina's
In winkelwagenWhat is money - The most common exchange/means of payment. EX) cash, credit card, food 
Cash and checkable bank deposits are most liquid 
Not the same thing as wealth 
Assets like cars, houses, securities (stocks, bonds, mutual funds) are not money 
Those assets have low liquidity therefore take tim...
Define: GDP - Gross domestic product measures the market value of all finals goods and services 
produced within a country in a given period of time 
We measure GDP in ___________ to reflect the value society places on each good - dollars 
The good is included in the GDP when it is... - PRODUCED not...
Voorbeeld 2 van de 6 pagina's
In winkelwagenDefine: GDP - Gross domestic product measures the market value of all finals goods and services 
produced within a country in a given period of time 
We measure GDP in ___________ to reflect the value society places on each good - dollars 
The good is included in the GDP when it is... - PRODUCED not...
The opportunity cost of an item is.... - what you give up to get that item 
Total output in an economy increases when each person specializes because - each person 
spends more time producing that product in which they have a comparative advantage in. 
The producer that requires a smaller quantity o...
Voorbeeld 1 van de 4 pagina's
In winkelwagenThe opportunity cost of an item is.... - what you give up to get that item 
Total output in an economy increases when each person specializes because - each person 
spends more time producing that product in which they have a comparative advantage in. 
The producer that requires a smaller quantity o...
Utility - Pleasure or satisfaction obtained from consuming a good or service 
Economizing Problem - Wants exceed means 
Economizing Problem - Limited resources vs. unlimited wants 
Individuals Economizing Problem - Budget Line 
Society's Economizing Problem - Production Possibilities Frontier (PPF)...
Voorbeeld 2 van de 7 pagina's
In winkelwagenUtility - Pleasure or satisfaction obtained from consuming a good or service 
Economizing Problem - Wants exceed means 
Economizing Problem - Limited resources vs. unlimited wants 
Individuals Economizing Problem - Budget Line 
Society's Economizing Problem - Production Possibilities Frontier (PPF)...
1x verkocht
GDP is - value of all final goods and services produced within a country in a given period of time. 
Y = C + I + G + NX - Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - exports minus imports 
CPI is...
Voorbeeld 2 van de 6 pagina's
In winkelwagenGDP is - value of all final goods and services produced within a country in a given period of time. 
Y = C + I + G + NX - Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - exports minus imports 
CPI is...
market failure - a situation in which a market left on its own fails to allocate resources efficiently 
economics - the study of how society manages its scarce resources 
incentive - something that induces a person to act 
productivity - the quantity of goods and services produce from each unit of l...
Voorbeeld 2 van de 5 pagina's
In winkelwagenmarket failure - a situation in which a market left on its own fails to allocate resources efficiently 
economics - the study of how society manages its scarce resources 
incentive - something that induces a person to act 
productivity - the quantity of goods and services produce from each unit of l...
Real GDP is commonly used for what? - Short run changes. 
When real GDP falls, so does what? - - Personal income 
- Corporate profits 
- Consumer spending 
- Investment spending 
- Industrial production 
When the overall economy declines that is due to what? - - Reduction in spending in factories 
-...
Voorbeeld 2 van de 10 pagina's
In winkelwagenReal GDP is commonly used for what? - Short run changes. 
When real GDP falls, so does what? - - Personal income 
- Corporate profits 
- Consumer spending 
- Investment spending 
- Industrial production 
When the overall economy declines that is due to what? - - Reduction in spending in factories 
-...
Economics - the study of how society manages its scarce resources 
Macroeconomics - the study of economy-wide phenomena (ex. the federal deficit, the rate of 
unemployment and policies to improve our standard of living) 
Microeconomics - the study of how households and firms make decisions and how t...
Voorbeeld 2 van de 7 pagina's
In winkelwagenEconomics - the study of how society manages its scarce resources 
Macroeconomics - the study of economy-wide phenomena (ex. the federal deficit, the rate of 
unemployment and policies to improve our standard of living) 
Microeconomics - the study of how households and firms make decisions and how t...
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