Ecn 211 final exam review - Study guides, Class notes & Summaries

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ECN 211 Final Exam Review | 90 Questions with 100% Correct Answers | Updated & Verified

ECN 211 Final Exam Review | 90 Questions with 100% Correct Answers | Updated & Verified
Exam (elaborations) • 11 pages • 2022
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Real GDP is commonly used for what? - Short run changes. When real GDP falls, so does what? - - Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? - - Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? - It increases. What is the natural rate of unemployment? - 5% or 6%. In the short run, what can money suppl...

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ECN 211 : Final Exam Review questions with correct answers

ECN 211 : Final Exam Review questions with correct answers
Exam (elaborations) • 13 pages • 2023
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Real GDP is commonly used for what? Correct Answer-Short run changes. When real GDP falls, so does what? Correct Answer-- Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? Correct Answer-- Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? Correct Answer-It increases. What is the natural rate of unemploym...

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ECN 211 : FINAL EXAM REVIEW
Exam (elaborations) • 7 pages • 2023

Real GDP is commonly used for what? - Answer- Short run changes. When real GDP falls, so does what? - Answer- - Personal income - Corporate profits - Consumer spending - Investment spending - Industrial production When the overall economy declines that is due to what? - Answer- - Reduction in spending in factories - Housing - Inventory When real GDP declines, what happens to the unemployment rate? - Answer- It increases. What is the natural rate of unemployment? - Answer- 5% or...