ECON 201: Introduction to Macroeconomics Midterm Exam 1: Answer Packet October 10‚ 2011 NAME: _________________________________ Circle your TA’s name: Circle your section time: Agustin 9 a.m. Brian 3 p.m. Meysam Directions: This test is in two parts‚ a multiple choice question part and a short-answer part. Use this answer packet to complete the exam. Calculators are permitted. Books‚ notes‚ reference materials‚ etc. are prohibited. Good luck! Part 1: Referring to the questions in the Multiple
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Fundamentals of Macroeconomics D.A. Torrez ECO/372 October 25‚ 2012 Kirk Marangi Fundamentals of Macroeconomics What is economics? Economics is the study of what people do to coordinate their want and desires through production‚ distribution‚ and consumption of goods and services (Colander‚ 2010). To understand economics‚ one has to understand the basic fundamentals of economics. Economics is based on two groups’ macroeconomics and microeconomics. So what is macroeconomics? Macroeconomics is the
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Commentary Two of the main macroeconomic objectives are low inflation rates and high economic growth. In an economy inflation is the persistent increase in price levels over a period of time while economic growth is an increase in real GDP (value of economic output adjusted for inflation). Most times‚ government stifles economic growth as they disregard it to concentrate solemnly on finding a solution for high inflation. This is presently one of India’s greatest problems as it struggles to combat
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Macroeconomics Unit 4 assignment Lane Litton 7-1-11 1) Fiscal policy is the government’s policy with respect to spending and taxation. It is set by the federal government. It impacts our economy in a couple of ways. Since government spending is a component of aggregate demand government spending on goods and services has a direct effect on the level of aggregate demand. Taxes also effect aggregate demand‚ however they do so indirectly. When tax’s rise or fall‚ they change the disposable
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MACROECONOMICS (DEC 0023) NAME: PUTERI NURATIKA BINTI GEMARI NO.ID:012012051179 LECTURER NAME:MISS PARIMALA DATE OF SUBMISSION:21 FEBRUARY 2013 The purpose of this report is to know more about the 2013 budget and also known as a Najibnomics by YAB Dato’ Sri Najib Tun Haji Abdul Razak . Najibnomics is the creative and innovative ideas‚policies‚strategies and programmes of the Prime Minister‚Dato’ Sri Najib to lift the nation towards a high-income and developed economy by 2020.the 2013 Budget
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• Micro vs. Macro • Microeconomics – the study of how individual households and firms make decisions and how they interact with one another in markets. • Macroeconomics – the study of the economy as a whole. – Its goal is to explain the economic changes that affect many households‚ firms‚ and markets at once. • The Two Groups of Economists • Macroeconomists • Focus on the economy as a whole. • Spend much time analyzing how total income changes and how changes in income cause changes in
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periods of falling real incomes and rising unemployment Depressions: severe recessions (very rare) Short-run economic fluctuations are often called business cycles FACTS: 1. Economic fluctuations are irregular and unpredictable. 2. Most macroeconomic quantities fluctuate together. 3. As output falls‚ unemployment rises. The AD curve shows the quantity of all g&s demanded in the economy at any given price level. Y = C + I + G + NX When an increase happened to C‚I‚G‚(NX or EX) - the
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Chapter 8 Exercise 21 What is sampling error? It is the difference between the sample mean and the population mean Could the value of the sampling error be zero? Yes it is possible to have a zero sampling error. However‚ it is very low probability that this could happen. If it were zero‚ what would this mean? This means that the population is uniform and the sample mean and the population mean are equal. Exercise 22 List the reasons for sampling. Give an example of each reason
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U.S. Productivity and Economic Growth during 1980s – 2000s This class is macroeconomics‚ which is a part of economics that is the field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment‚ national income‚ rate of growth‚ gross domestic product‚ periods of inflation and price levels. Many changes have occurred in the U.S. productivity and economic growth since the 1980s. There have been periods of
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ECS2730 ASSIGNMENT Question one a) Different sources had varying figures in terms of acquiring the macroeconomic variables. b) The following graph show the GDP growth rate‚ GDP per capita growth rate and the inflation rate of Nigeria. From the graph it is not easy to see the changes (in terms of figures) in the variables therefore‚ the table below shows how the above variables have changed over time. Year Real GDP growth rate (annual %) GDP per capita growth (annual %) Inflation
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