EXAM 4 Part IV The Classical Era
Written AND Listening
First: There will be questions from all chapters of Part IV. These will be in the form of multiple choice,
short answer, or fill in the blank.
1) According to The Inside Job, the housing bubble occurred because of hundreds
of billions of dollars of credit and the fact that anyone could get a mortgage. T
2) Structural unemployment in East Germany occurred because workers there less
A higher rate of growth in real GDP leads to higher planned investment
A lower growth rate of real GDP leads to lower planned investment spending
1) Acquisition Cost
2) Operation Cost
3) Maintenance Cost
Inventories the am
True and False
1. The law of diminishing returns does not explain the right side of the long-run ATC.
Answer is True because.
3. A straight line demands schedule has varying elasticities throughout its length. Answer is true
5. Elasticity of demand is not
April 21, 2015
1. Partial equilibrium analysis is when both sides of the market shift simultaneously.
2. The position of a demand curve is affected by changes in the price of good.
II. Economic Modes: Trade-offs &Trades
Models in economics
1. The PPF (Production Possibility Frontiers)
Essay question/ illustrates the trade-offs
facing an economy that produces only two
goods. It shows the maximum quantity of one
good that can be produ