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2013_Final-Review60 - ECO 2013 Final Review 60 Questions Mr...

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ECO 2013 Final Review – 60 Questions Mr. Meier 1. The fiscal year for the federal government. 2. Economy expands (contracts): changes in taxes, transfer payments, deficits (surpluses). 3. Definition of U.S. gross domestic product. 4. Calculation problem for excess reserves. 5. Which of the following will cause consumer spending to increase (or decrease)? 6. Which of the following will cause planned investment spending to increase (or decrease)? 7. The tool used most frequently by the Board of Governors to control the money supply 8. Formula for GDP as expenditures. 9. Phillips curve tradeoff with expansionary (or contractionary) policy. 10. Equation of exchange. 11. Characteristics of pure capitalism. 12. Effects of an increase (or decrease) in aggregate demand on price and output. 13. Appropriate monetary policy to control inflation (or recession). 14. Appropriate fiscal policy to control inflation (or recession). 15. Leading economic indicators: signs that the economy will pick or slow down.
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