ECO 372 (ECO372)

ECO 372 Final Exam- Questions & Answers ECO 372 Final Exam 1 The Marions purchased a Persian rug worth $5,000 from an Iranian textile mill. Everything else remaining unchanged, this will: • decrease the net imports of the domestic country by $5,000. • decrease the consumption expenditure in the domestic country by $5,000. • reduce the net exports of the domestic country by $5,000. • increase the gross domestic product of the domestic country by $5,000....

ECO 372 Final Exam Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium when the...

ECO 372 FINAL EXAM/ECO 372 FINAL EXAM 1 The Marions purchased a Persian rug worth $5,000 from an Iranian textile mill. Everything else remaining unchanged, this will: decrease the net imports of the domestic country by $5,000. decrease the consumption expenditure in the domestic country by $5,000. reduce the net exports of the domestic country by $5,000. increase the gross domestic product of the domestic country by $5,000. 2 The table given below shows the total amount of spending in the...

The largest source of household income is in the U.S. is obtained 2.The market where business sell goods and services to households and the government is called 3.Real gross domestic product is best defined as 4. underemployment includes 5.The bureau of economic analysis is responsible for whicj of the following 6.The federal reserve provides which of the following data 7. Consider if the government instituted a 10% income tax surcharge. In terms of the AS/AD model this c...

ECO 372 Final Exam 1. the largest source of household income is in the U.S. is obtained a. stock dividends b. wages and salaries c. interest earnings d. rental income market where business sell goods and services to households and the government is called a. goods market b. factor market c. capital market d. money market gross domestic product is best defined as a. the market value of intermediate goods and services produced in an economy including exports b. all goods and services produced...

ECO 372 Final Exam 1. Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. 2. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium whe...

Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium when there was a decrease in...

ECO 372 Final Exam Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____. The exhibit given below shows the short-run aggregate demand and supply curves in an economy, AD1 and AS1, and the long-run aggregate supply curve, LRAS. The economy was initially in equilibrium when the...

End section summary end section summary and practice work from textbook. practice work from textbook.

End section summary and practice work from textbook.