ECON 100A

Econ 100A Macroeconomics key exam words a student must know (new update grade boosting material) Macroeconomics - The study of the economy as a whole. gross domestic product (GDP) - the dollar value of all final goods and services produced within the country's borders in a given year consumer price index (CPI) - a measure of the overall cost of the goods and services bought by a typical consumer Inflation - rise in the general level of prices. Deflation - Sustained fall in the ...

Econ 100A Macroeconomics Chapters 1-5 all latest expected trial questions and answers in this material What are the three core choices in the economy? - what, how, and for whom Define "economy". - the grand sum of all production and consumption activities Define "scarcity". - the limitation of a nation's resources What are the four basic factors of production? - land, labor, capital, and entrepreneurship Define "economics". - the study of how people use scarce resources ...

ECON 100A Macroeconomics all complete exam study reviews complete solution 2022 updated newly In the long run, inflation is caused by - governments that print too much money. When prices rise at an extraordinarily high rate, it is called - hyperinflation. If the price level doubles, - the value of money has been cut by half. In the long run, the demand for money is most dependent upon - the level of prices. The quantity theory of money concludes that an increase in the money s...