Ecn 211 exam 2 - Study guides, Class notes & Summaries
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ECN 211 Exam 2 Latest Update
- Exam (elaborations) • 18 pages • 2024
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ECN 211 Exam 2 Latest Update ...
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ECN 211 Exam 2 – Marburger | Questions and Correct Answers | Latest Update 2024/2025
- Exam (elaborations) • 21 pages • 2024
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ECN 211 Exam 2 – Marburger | 
Questions and Correct 
Answers | Latest Update 
2024/2025 
Tariff - Answer -A tax on imported goods 
Who benefits/loses from free trade? - Answer -1. Foreign producers of 
steel (exports steel to US) 
2. Buyers of steel and steel-related products (price falls and quantity 
increases) 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
Who benefits from tariffs? (US steel producers example) - Answer -...
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ECN 211 Exam 2 2024 with 100% correct answers
- Exam (elaborations) • 10 pages • 2024
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GDP (Gross Domestic Profit) - correct answer the total market value of all final/finished goods and services produced within a country in a given period of time 
 
Not Included in GDP - correct answer -goods not bought/sold in a market (home production, charity work, free things) 
-intermediate goods 
-used items 
-illegal goods and services 
-goods produced in another country 
-financial transactions (bonds, stocks, etc.) 
-transfer payments (welfare, unemployment, etc.) 
 
Expenditure Appr...
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ECN 211 Exam 2 With 100% Correct Answers| Graded A+
- Exam (elaborations) • 11 pages • 2024
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Tariff A tax on imported goods 
Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to 
US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
Who benefits from tariffs? (US steel producers example) 1. Domestic producers of 
steel (sells more at a higher price) 
Who is worse off because of the tariff? 
1. Foreign produc...
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ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions.
- Exam (elaborations) • 7 pages • 2024
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ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions. 
GDP is - ANSWER value of all final goods and services produced within a country in a 
given period of time. 
Y = C + I + G + NX - ANSWER Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - ANSWER exports minus imports 
CPI is used to - ANSWER monitor changes in the cost of living over time 
Inflation rate - ANSWER percenta...
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ECN 211 Exam 2 With 100% Correct Answers| Graded A+
- Exam (elaborations) • 11 pages • 2024
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- $10.49
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Tariff A tax on imported goods 
Who benefits/loses from free trade? 1. Foreign producers of steel (exports steel to 
US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
Who benefits from tariffs? (US steel producers example) 1. Domestic producers of 
steel (sells more at a higher price) 
Who is worse off because of the tariff? 
1. Foreign produc...
-
ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions.
- Exam (elaborations) • 7 pages • 2024
- Available in package deal
-
- $10.99
- + learn more
ECN 211 EXAM 2 ASU With Questions and Correct Answers and Complete Solutions. 
GDP is - ANSWER value of all final goods and services produced within a country in a 
given period of time. 
Y = C + I + G + NX - ANSWER Y = economy's total expenditure 
C = consumption in economy 
I = imports in economy 
G = government spending 
NX = net exports 
Net exports equal - ANSWER exports minus imports 
CPI is used to - ANSWER monitor changes in the cost of living over time 
Inflation rate - ANSWER percenta...
-
ECN 211 Exam 2 – Marburger questions with correct answers
- Exam (elaborations) • 18 pages • 2023
- Available in package deal
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- $15.99
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Tariff Correct Answer-A tax on imported goods 
 
Who benefits/loses from free trade? Correct Answer-1. Foreign producers of steel (exports steel to US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
 
Who benefits from tariffs? (US steel producers example) Correct Answer-1. Domestic producers of steel (sells more at a higher price) 
 
Who is ...
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ASU ECN 211 Exam 2 – 2024 With 100% Correct Answers
- Exam (elaborations) • 9 pages • 2024
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Microeconomics - correct answer the study of how individual households and firms make decisions and how they interact with one another in markets 
 
Macroeconomics - correct answer the study of the economy as a whole 
 
What is the goal of macroeconomics? - correct answer to explain changes that affect many households, firms, and markets simultaneously 
 
GDP deflator - correct answer a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100 
 
GDP deflato...
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ECN 211 Exam 2 – Marburger questions with correct answers|100% verified|18 pages
- Exam (elaborations) • 18 pages • 2024
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ECN 211 Exam 2 – Marburger questions with correct answers 
Tariff Correct Answer-A tax on imported goods 
 
Who benefits/loses from free trade? Correct Answer-1. Foreign producers of steel (exports steel to US) 
2. Buyers of steel and steel-related products (price falls and quantity increases) 
 
Who is worse off because of free trade? 
1. Domestic producer of steel (sells lower quantity and at a lower price) 
 
Who benefits from tariffs? (US steel producers example) Correct Answer-1. Domestic...
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