{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Study Guide For EC141 Final Exam (Blank)

Study Guide For EC141 Final Exam (Blank) - STUDY GUIDE FOR...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
STUDY GUIDE FOR EC141 FINAL EXAM ************************************************* Students - Go through this list of economic concepts and topics that you should know by the end of this course. Look up in your textbook and study any that you are unsure of before you take the final exam! SAMPLE OF SHORT ANSWER QUESTIONS SIMILAR TO THESE (no multiple choice questions) : 1. Which four types of spending are represented by the AD curve? (Think in terms of GDP = __ _ _ + _____ + _____ + _____ ) 2. Define “the aggregate supply curve.” (Think in terms of the total quantity of goods and services) ( Page 238 ) 3. Define “cause of inflation” ( Pages 246-249 ) 4. Explain differences between two types of inflation, “cost-push inflation” and “demand-pull inflation.” ( Pages 246-247 ) 5. Define “easy monetary policy”. ( Page 213 ) SAMPLE OF GRAPHICAL PROBLEMS TYPE QUESTIONS 6. Supply and Demand Analysis. a) Illustrate the market for a good by drawing the industry’s demand and supply curves. On the graph, identify the equilibrium price and the equilibrium quantity. Be sure to label all axes and curves.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
b). If the market price is less than the equilibrium price, what is the relationship of quantity
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}