What happens when there is a surplus of imports brought into the U.S.? When the dollar value of goods and services imported into the United States exceeds the dollar value of goods and services exported to other countries from the U.S.‚ it creates what is called a surplus. When there is a surplus of imports that are brought into the United States‚ a deficit is created from the trade balance that occurs. Having a surplus of desired imports can create a lower price for the U.S. consumer and have a
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This pack of ECO 372 Week 4 Discussion Questions shows the solutions to the following problems: 1)What if I was coaching football again in a small town in Idaho and had a player who was faster than anyone on the team? He can throw the ball farther and more accurately than anyone on the team. He does a better job of blocking and is a great tackle. What if this player had an absolute advantage in almost every position in football? It is obvious this player should be the quarterback. (Use the
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Fundamentals of Macroeconomics: Understanding GDP Ryan Clement June 18‚ 2012 ECO/372 Mr. Daniel Puente Understanding Gross Domestic Product Economists and world political leaders utilize a method of keeping track of their final goods‚ products and services done within a year called the Gross Domestic Product. It also defines the economic heartbeat of a country by the ebb and flow of how the country as a whole is producing goods products and services including imports and exports. The
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into spending than is saved‚ most likely: A. the supply of real assets will exceed the demand for real assets. B. there will be too many real assets produced. C. the economy will experience inflation. D. the economy will experience recession. 5. Flows that do not enter the spending stream enter the financial sector in the form of: A. saving. B. investment. C. real assets. D. expenditures. 6. Every financial asset has a corresponding: A. financial liability. B. real liability. C
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Fundamentals of Macroeconomics ECO/372 By Nicole Noyce July 28‚ 2013 Dr. Samule Onipede In order to understand what is going on with the United States economy you must understand some important terms that are part of the economic language. You also need to understand how certain activities in your everyday life have an overall effect on the economy. Placing the puzzle pieces of what makes up the economy and what effects the economy will help one to understand how to react in certain situations
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Eco/372 Final 25/30 1) The largest source of household income in the U.S. is obtained from B. wages and salaries 2) The market where business sell goods and services to households and the government is called the A. goods market 3) Real gross domestic product is best defined as C. the market value of all final goods and services produced in an economy‚ stated in the prices of a given year 4) Underemployment includes people B. who are working part time‚ or not using all their skills
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Fundamentals of Macroeconomics Paper Kimberly Lincoln ECO/372 June 29‚ 2015 Dr. Bob Larkin Fundamentals of Macroeconomics Paper In this paper we will discuss the following common macroeconomic activities: purchasing of groceries‚ massive layoff of employees‚ and decrease in taxes. We will look closely at how each of these activities affects government‚ households‚ and businesses. Then take a look at the flow of resources from one entity to another according to this week’s reading‚ Figure 3-1 from
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ECO/372– Principles of Macroeconomics – Final Exam Study Guide 2012 1. the market where business sell goods and services to households and the government is called a. goods market XXX b. factor market c. capital market d. money market 2. Real 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 in an economy‚ stated in prices in a given year and multiplied by quantity
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ECO/372 Week 3 Knowledge Check – Quiz Quiz Questions with 100% Correct Answers: 1. If you expect interest rates to rise‚ you will want to be holding 2. The interest rate is the price paid for the use of a 3. Which of the following do policy makers tend to target when setting monetary policy? 4. If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent‚ this policy would most likely 5. If banks hold excess reserves whereas before they did not‚ the money multiplier 6. The
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Economic Critique Learning Team A ECO/372 August 28‚ 2013 Maintaining a stable economy is no small challenge for any nation however possessing the ability to change and invent new and created ways of maintaining makes for a thriving economy. This newsletter will summarize the different economic factors that affect aggregate demand and supply such as unemployment‚ expectations‚ consumer income‚ and interest rates within the United States. Additionally‚ what fiscal policies are recommended by the United
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