1. India is a country that has a
a. high value for both the level and the growth rate in its GDP per capita
b. high value for the level of GDP per capita but a low value for the growth rate in its GDP per
@ low value for the level of G
1. China ranks among the top ten countries of the world in temis of
b. GDP per capita
0. both a and b
d. neither a nor b
2. Which of the following would be included in U.S. GDP?
a. Cars made in Germany at a U.S. owned General Motors f
E201 Introduction to Microeconomics
Marc Bilodeau, Ph.D.
Cavanaugh Hall 517
Office hours: Tuesdays and Thursdays 13:3014:30, or by appointment
Prerequisites: The IUPUI All-Campus Bulletin lists s
1. Associated with the discussion of money is a discussion of banking because banks influence
the amount of money in circulation. There are two important types of banks. First, there is the
countrys central government bank
1. Macroeconomics studies the behavior of the economy as a whole. The central objective is to
understand what variables determine production per person (output per capita) or production per
worker (worker productivity). These concepts of p
Accts Receivable, net
Total Current Assets
Gross plant, property, and equipment
Gross plant, property, and equipment, net
Unit 5 Lesson 2
1. deposit* reserve ration= amount of required reserves
x=.2 or 20%
A. 25,000/.02= $125,000
B. Since the bank will try to use re
Unit 6 lesson 7
Graphing monetary policy
B. The Fed could buy securities to help resolve the problem.
C. I. Rates will decrease when money supply increases.
ii. When rates decrease, investments will increase.
Unit 4 Lesson 4
Foreign Exchange Market
A. The increase in inflation will affect the international value of the US dollar by causing the US dollar
to have a lesser value than a foreign dollar. This means that the goods in US ma
Unit 6 Lesson 2
B: If the government spent less money, it would resolve the problem of operating above full
C: i. Aggregate demand decreases because the government spends less and goods and services are in
January 20, 2016
Opportunity Costs Portfolio
a. If you go to the beach you can have a fun time and get a tan OR you could get a really good grade on
b. If you get a job after high school you won't be in debt
Unit 6 Lesson 4
Economic Impact of Deficits and Debt
Interviewee's age: 19
Interviewee's political party affiliation: Independent (but voted republican)
How the interviewee feels about America having a deficit: He doesn't like tha
1. The labor market receives attention in macroeconomics because output movements are
closely related to employment movementsespecially over the business cycle. When output
varies over the business cycle employment varies as well, but with
we 1 .
1. Which of the following measures of the money supply include interest-bearing saving
a. monetary base
(:1. all of the above
2. A reserve ratio of 10% implies that higher. than reserves
a. currency is 5 times?
December 7, 2016
For my final project, I collected data on unleaded gas prices at ten gas stations located in
Plainfield Indiana over a period of fifteen days. I looked at three BP gas stations, four
Speedways, a Murphy
I chose my extra credit assignment to be based on the podcast One Page Plan to Fix
Climate Change. Climate change has always sparked interest in me, so I figured what better
topic to write two pages about! The first thing that the podcast t
BP (2628 E. Main St & Perry Rd)
Speedway (3066 E. Main St)
Speedway (610 W. Main St Speedway (1608 E. Main St & Dan
& Vestal Rd)
Speedway (6050 Cambridge
Way & Hadly Rd)
BP (306 E. Main St & Avon Ave)
BP (2068 E. Hadly Rd
Opinion On Legalizing Marijuana
Should marijuana be legalized? In my personal opinion, I do not think it should for many
reasons. One reason I think is that the income from this drug will not dramatically change. The
people purchasing this drug illegally
Go over all vocab from all chapters
change in output divided by a change in input (like labor)
how is marginal product related to marginal cost?
- Inversely related
What is the marginal cost curve?
- It is the companys supply curve in the
Chapter 1 What is Economics About?
Good anything from which individuals receive utility or satisfaction
Utility the satisfaction one receives from a good
Bad anything from which individuals receive disutility or dissatisfaction
Disutility the dissat
ECN 200 Practice Mid-Term Fall 2011
1. When economists speak of scarcity, they are referring to the
a. condition in which society is not employing all its resources in an efficient way.
b. condition in which people's wants outstrip the limited resources a
Massage Clinic for Cats/Dogs
The advertising appeal my group would use for this product is fun and pleasure.
Massages for cats/dogs would be a product of pleasure, relaxation. It would also fall into
1. Relief Woodcut
This artwork below is Family by the Lotus Pond by Zhao Xiaomo. It is multiblock
woodcut printed with water-soluble ink. Woodcuts are made by cutting along the
grain of the flat surface of a wood block with a knife. The arti
1. a. In the diagram below, assume the prevailing real wage rate is 5. Calculate the
Labor Force = unemployed + employed
From the diagram = 200
Unemployment Rate = 200/5 = 40
b. Suppose that some of the unemployed become discouraged workers. Illustrate th
1. Which of the following people are counted as unemployed in the standard US measure of '
@ a person out of work who is actively seeking work
b. a person who wants to work but who has become discouraged and has given up s
March 29, 2016
Comparative advantage and international trade
Unit 4 Lesson 1
A. Neither of the countries have absolute advantage over the other. Since 20<90 and 60>40, there isn't
a country that has absolute advantage.
B. Millerville: 1 sc