BAMM-6101 - Macroeconomics Theory and Practice oed answer key

Showing 41 to 60 of 132 total answers.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

The production possibilities curve is often referred to as a ___________.

Answer

FrontierCorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Percentage of Change = ending value- starting value /starting value x 100.

Answer

ending value- starting value /starting value x

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Political Science is the study of mankind in the ordinary business of life.

Answer

FALSECorrect

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Awesome StudentQuestion • Macroeconomics Theory and Practice

The test of a proposition or theory using actual observations or numbers is

Answer

Empirical Study

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Awesome StudentQuestion • Macroeconomics Theory and Practice

GDP Deflator = Nominal (current-dollar) GDP /Real (constant-dollar) GDP * 100

Answer

TRUE

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Awesome StudentQuestion • Macroeconomics Theory and Practice

_________ represents a combination of percentage change and marginal analysis.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

___________ is the amount of labor demanded by firms at a given real wage rate.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Microeconomic demand and supply curves depend on differences in ________ prices

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Awesome StudentQuestion • Macroeconomics Theory and Practice

_________ is a very small increase of decrease in the quantity of some variable.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

A legal requirement that maintains the market price below the equilibrium price.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

The point where the curve crosses the vertical axis is referred as ____________.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

____________consists of transactions that are not documented for various reasons.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Deflation Rate = Price Index Year 2 - Price Index Year 1 /Price Index Year 1 * 100

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Quantity of goods and services that can be purchased with a given amount of money.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

What do you call the hours (not rendered) beyond government mandated hour work week

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Awesome StudentQuestion • Macroeconomics Theory and Practice

What is the value of total output (nominal GDP) corrected for any changes in prices.

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Awesome StudentQuestion • Macroeconomics Theory and Practice

__________________ - the market value of final goods and services (i.e., sold to final

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Awesome StudentQuestion • Macroeconomics Theory and Practice

What do you call the hours (not rendered) beyond government mandated 40 hour work week

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Awesome StudentQuestion • Macroeconomics Theory and Practice

Demand-Pull Inflation - caused by an increase in aggregate demand for goods and services.

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