ECN 211 STUDY TEST QUESTIONS WITH 100% CORRECT ANSWERS
0 view 0 purchase
Course
ECN 211
Institution
ECN 211
ECN 211 STUDY TEST QUESTIONS WITH 100% CORRECT ANSWERS
A FROST IN NORTHER CALIFORNIA DESTROYS MANY VINEYARDS, WHICH ARE USED TO PRODUCE WINE. WHAT WILL HAPPEN IN THE MARKET FOR WINE? - Answer- SUPPLY OF WINE DECREASES
THE PROCESSING POWER OF COMPUTERS HAS INCREASED, MAKING IT EASIER FOR THE FI...
ECN 211 STUDY TEST QUESTIONS
WITH 100% CORRECT ANSWERS
A FROST IN NORTHER CALIFORNIA DESTROYS MANY VINEYARDS, WHICH ARE
USED TO PRODUCE WINE. WHAT WILL HAPPEN IN THE MARKET FOR WINE? -
Answer- SUPPLY OF WINE DECREASES
THE PROCESSING POWER OF COMPUTERS HAS INCREASED, MAKING IT
EASIER FOR THE FIRM A&B BLOCK TAX ACCOUNTANTS TO PROCESS TAX
RETURNS. CETERIS PARIBUS, WHAT WILL HAPPEN TO THE PRICE OF
ACCOUNTING SERVICES AND THE NUMBER OF ACCOUNTING SERVICES
DELIVERED? - Answer- EQUILIBRIUM PRICE DECREASES; EQUILIBRIUM
QUANTITY INCREASES
WHAT DOES REAL GDP TAKE INTO ACCOUNT THAT NOMINAL GDP DOES NOT?
- Answer- CHANGE IN THE PRICE LEVEL
WHICH OF THE FOLLOWING WILL SHIFT THE AGGREGATE DEMAND CURVE TO
THE LEFT? - Answer- AN INCREASE IN INTEREST RATES
INDIA'S ECONOMY HAS BEEN GROWIN AT ABOUT 9% PER YEAR. AT THIS RATE,
HOW LONG WILL IT TAKE FOR THE ECONOMY TO APPROXIMATELY DOUBLE IN
SIZE? - Answer- 8 YEARS
ASSUME THE ECONOMY IS IN A RECESSIONARY GAP, AND THE FED ENACTS
POLICIES TO INCREASE AGGREGATE DEMAND. IF THERE ARE SIGNIFICANT
LAGS PRESENT IN ENACTING THE POLICY, WHICH IS THE LIKELIEST OUTCOME
IN THE ECONOMY? - Answer- A SHIFT RIGHT IN THE SHORT-RUN AGGREGATE
SUPPLY (SRAS) MAKES THE POLICY INEFFECTIVE; THE ECONOMY IS PUSHED
INTO AN INFLATIONARY GAP.
THE FED RECENTLY ANNOUNCED AN INCREASE IN THE GROWTH OF THE
MONEY SUPPLY. HOW WILL THIS IMPACT INTEREST RATES AND THE VALUE OF
THE DOLLAR, CETERIS PARIBUS? - Answer- INTEREST RATES FALL; DOLLAR
DEPRECIATES
HOW CAN THE CONGRESS AND PRESIDENT USE FISCAL POLICY TO
STIMULATE AGGREGATE DEMAND IN THE ECONOMY? - Answer- DECREASE
TAXES; INCREASE GOVERNMENT PURCHASES
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 Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
