EC 202 (EC202)
Michigan State University
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Microeconomics 201- AP practice mc questions
- Exam (elaborations) • 5 pages • 2024
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Microeconomics 201- AP practice mc questions with answers. 
 
* Detailed 
* For practice purposes 
* For students
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EC202 Ch7 Tracking the Economy-GDP &GNI
- Summary • 4 pages • 2023
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Ch7 Tracking the Economy -GDP &GNI 
-Gross Domestic Product definition 
-Consumer Price Index 
-Graph showing the relationship between govet/ household;d/ financial market and market for goods&services in money and non- money flow 
-What are include in GDP 
-How many approaches in calculating GDP 
-Gross National Product definition and why is it different from GDP 
-Limitations of GDP approach 
-Price index 
summary clear concepts
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EC202 Ch8 Employment/ Unemployment and Inflation Summary
- Summary • 3 pages • 2023
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Ch8 Employment/ Unemployment and Inflation 
-Employed / unemployed and labor force definition 
-how to calculate their percentage with the formula 
-Significance of the unemployment rate 
-Type of unemployment 
-Wages type 
-Cost of inflation 
-Fisher equation
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EC202 Ch6 Macroeconomic : the big picture summary
- Summary • 4 pages • 2023
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Ch6 Macroeconomic : the big picture summary 
-difference between macro and micro 
-business cycle and policy diminish security 
-long-run economic growth determine country's standard of living? 
-inflation and deflation 
why price stability is preferred 
-why does international macro matter and how does it interact with deficit and surplus?
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EC202 Ch9-10 Long-run economic growth summary
- Summary • 6 pages • 2023
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Ch9 Long-run economic growth 
-Real GPD and Real GDP per capita different 
-Rule 70 in calculate how long it takes for real GDP per capita to double 
-Source of long-run growth 
-Aggregate production function with diagram 
 
Ch10 Savings/ Investment Spending 
-Budget surplus/ deficit and govt borrowing 
-Budget balance equation 
-National saving 
-Why does the supply of loanable funds curve upward sloping? 
all with clear diagran
And that's how you make extra money
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EC202 Fiscal & monetary policy
- Summary • 19 pages • 2023
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Ch11-15 
CH11 Income and Expenditure: The multiplier effect 
-importance of multiplier 
-aggregate consumption function 
-expected future income affects consumer spending 
-investment spending 
 
Ch12 Aggregate Demand and supply 
-AD curve- relationship between price and output 
-AS curve -relationship between price and output 
-Why SRAS curve different from LRAS 
-How AD-AS model analyze economic fluctuations 
-How monetary policy and fiscal policy stabilize economy 
 
Ch13 Fiscal Policy 
-F...
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EC 202 - Final Exam Michigan State University (MSU) Questions With Complete Solutions
- Exam (elaborations) • 22 pages • 2023
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About people and the choices they make in a world of scarce resources. 
The study of decision-making. correct answer: Economics 
 
The study of the economy on a small scale. 
Individuals, businesses, small markets. correct answer: Microeconomics 
 
The study of the economy on a large scale. 
Looks at total output, total consumption, etc. correct answer: Macroeconomics 
 
Any item whether it be a gift of nature, the result of production, or result of human effort that is used to produce goods ...
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Core principles 4
- Class notes • 3 pages • 2022
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Core principles 2&3
- Class notes • 4 pages • 2022
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Notes for core principles 2&3
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EC 201 core principle notes
- Class notes • 2 pages • 2022
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PowerPoints turned Into notes
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