ECO%20210,%20Test%204,%20Study%20Guide,%20030

ECO%20210,%20Test%204,%20Study%20Guide,%20030 - ECO 210...

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ECO 210 TEST 4 STUDY GUIDE Test 4 will cover the material in Chapters 13, 14, 15, 17, and 19. The test will consist of three parts as described below. PART I - Students will be asked questions concerning the definitions of the following terms (20 Points): Time Lag Stabilization Policy Response Lag Automatic Stabilizer Recognition Lag Sticky Wages Explicit Contracts Efficiency Wage Theory Natural Rate of Unemployment Aggregate Supply Demand-pull Inflation Dow Jones Industrial Average Stagflation Cost-Push Inflation NASDAQ Composite Capital Gain Standard & Poor’s 500 Implementation Lag Labor Productivity Economic Growth Innovation Potential GDP Dumping Protection Tariff North America Free Trade Agreement (NAFTA) Part II - Students will be asked 30 multiple choice questions concerning the following topics(60 Points): - Aggregate demand curve and aggregate supply curve - Equilibrium price level - Causes of inflation - Understand the classical view of unemployment - The factors that explain the existence of unemployment -
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