Exam (elaborations)
ECN 211 Midterm ASU Questions and Answers 100% Correct
- Course
- Institution
ECN 211 Midterm ASU Questions and Answers 100% Correct
[Show more]
Content preview
ECN 211 Midterm ASU Questions andAnswers 100% Correct
labor supply choice of household - ANSWER how much we are willing to work
to afford the things we want to buy
labor supply - ANSWER the total hours (adjusted for intensity of effort) that
workers wish to work at a given real wage rate.
stock and flow - ANSWER A stock variable is measured at one specific time,
and represents a quantity existing at that point in time, which may have
accumulated in the past. A flow variable is measured over an interval of time.
Therefore a flow would be measured per unit of time (say a year). It is roughly
analogous to rate or speed in this sense.
transfer payment - ANSWER A redistribution of income in the market system.
These payments are considered to be non-exhaustive because they do not directly
absorb resources or create output.
central bank - ANSWER Institution that manages a state's currency, money
supply, and interest rates. It usually also oversees the commercial banking system
of its country.
federal open meeting committe (fomc) - ANSWER Committee within the
Federal Reserve System (the Fed), that is charged under the United States law
with overseeing the nation's open market operations . This committee makes key
decisions about interest rates and the growth of the United States money supply.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudySet. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72349 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now