BAMM-6101 - Macroeconomics Theory and Practice oed answer key
Showing 121 to 132 of 132 total answers.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
According to __________, that if more of the time is spent in one activity then you must invest your resources to develop specialized tools or machines to aid me in my task.
Answer
SmithCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
What kind of resources in which examples are petroleum, natural gas, coal, and nonfuelminerals extracted from the ground is included in GDP in the products produced from them
Answer
Non Renewable Natural ResourcesCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
_____________________- the market value of final goods and services produced by labor and property supplied by the residents of a nation during a specific period, usually year
Answer
Nominal Gross National Product (GNP)Correct
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Awesome StudentQuestion • Macroeconomics Theory and Practice
__________ is described as a fixed-weight price index (also referred to as a Laspeyres price index), which measures the cost of a fixed basket of goods relative to a base period
Answer
current-year total cost of market basket of goods and services / base-year total cost of market basket of goods and services
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Awesome StudentQuestion • Macroeconomics Theory and Practice
_____________ unemployment arising from frictional, structural, and seasonal unemployment, further as described as the unemployment rate that coexists with macroeconomic stability.
Answer
Natural Rate of UnemploymentCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
____________ a graph that indicates all possible combinations of two goods or services that can be produced within an economy given the full and efficient use of all available resources.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Common characteristics in each of the relationship of two variables is that the change in independent variable X produces a change in dependent variable Y and represented in a math equation.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Hyperinflation is generally caused by governments printing money to finance large fiscal deficits caused by wars, revolutions, the establishment of new states, or exorbitant social programs.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
A shift of the demand curve in response to a change in one of the variables assumed to be held constant under the ceteris paribus assumption (e.g., income), holding the good's price constant.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
In Demand Curve Shifts, a change in any of these will cause the demand to curve shift to the right or left, when the demand curve is shifting to the right. The rightward shift is called ___________________.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
__________as the shift of the supply curve in response to a change in one of the variables assumed to be held constant under the ceteris paribus assumption (e.g., technology), holding the good's price constant.
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Awesome StudentQuestion • Macroeconomics Theory and Practice