Macroeconomics ecn211 - Study guides, Class notes & Summaries

Macroeconomics ECN211 Terms

Macroeconomics ECN211 Terms Normative statement Correct Answer-Statement which describes the world as it should be. It is an expression of judgment and not verifiable. Positive statement Correct Answer-Statement which describes the world as it is. It is verifiable. Scatter plot Correct Answer-Type of plot or mathematical diagram using Cartesian coordinates to display values for typically two variables for a set of data. Slope Correct Answer-The ratio of the "vertical change" to the ...

Macroeconomics ECN211 | Questions and Correct Answers | Latest Update 2024/2025 Normative statement - Answer -Statement which describes the world as it should be. It is an expression of judgment and not verifiable. Positive statement - Answer -Statement which describes the world as it is. It is verifiable. Scatter plot - Answer -Type of plot or mathematical diagram using Cartesian coordinates to display values for typically two variables for a set of data. Slope - Answer -The ratio of...

The study of how households and firms make choices, how they interact in markets, and how the government attempts to influence their choices. Correct Answer Microeconomics The study of the economy as a whole, including topics such as inflation, unemployment, and economic growth. Correct Answer Macroeconomics What is the Fisher equation? Correct Answer Provides the link between nominal and real interest rates. What is Normative economics? Correct Answer It expresses value or normative ju...

ECN211 Exam 1 Review ASU