Econ 102 final study guide

New YouTube Channel! Like and Subscribe! I send my students these games, videos, and content review at the end of each unit to help them prepare for their unit exams. My students also use these to review and preparing right before AP Macroeconomics exam in may. I sincerely hope these resources help you as much as they have my students. Good luck! Not sure what to study First?

From Microeconomics You must understand the basics of scarcity and opportunity cost along with supply and demand. You should also fully understand the Production Possibilities curve and comparative advantage.

Louis Fed. Pay special attention to real vs. Know how to illustrate inflationary and recessionary gaps. Be able to describe how the economy will readjust to long-run equilibrium without government intervention.

Understand the process by which a change in consumption, investment, government spending or taxes will impact real GDP. Be able to calculate the spending and tax multipliers and maximum changes to GDP. Understand what shifts each curve and how the equilibrium real interest rate impacts gross investment. Understand how government taxes and spending impact the market and how deficits can crowd out investment.

Know what open market operations are. Understand how changes in the money supply are multiplied through the banking system. Understand how relative interest rates, price levels, and national income impact the exchange rate. Understand how the two accounts balance and what causes each to increase or decrease credit or debit, surplus or deficit. Understand how changes in the macro economy and foreign exchange markets impact the balance of payments including net exports. IB is a registered trade mark of International Baccalaureate Organization which was also not involved in the production of and does not endorse this material.

Youtube Facebook-f Twitter. Macroeconomics Complete Study Guide. Be able to describe and identify different types of unemployment.To login with Google, please enable popups. Sign up.

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To signup with Google, please enable popups. Sign up with Google or Facebook. To sign up you must be 13 or older. Terms of Use and Privacy Policy. Already have an account? Log in. Get started today! Econ Edit a Copy. Study these flashcards. Melvin M. Expenditure appraoch. What is not included in the governemnt purchases component of the GDP. Transfer payments because they are not made in exchange for currently produced goods.

Value added Approach. For any firm the market value of its product or services minus the cost of inputs purchased from other firms. Factor Payment Approach. Nominal GDP.

Basics topics and quizzes

SUm of final goods produced in the year using current prices. Real GDP. Problems with GDP. Labor force requirement.

I worked more than one hour for pay am I employed. Im on a temporary layoff,Am I employed? No ,Unemployed. I'm searching for work. Unemployment rate. Unemployment Rate. Participation rate. What does the participation rate mean. The unemployment can go down even if the number of unemployed does not. Macroeconomics: Principles and Applications.Basics Basics topics and quizzes. Opportunity cost topics and quizzes. Opportunity Cost No Free Lunch.

PPC topics and quizzes. Circular Flow Diagram topics and quizzes. Demand topics and quizzes.

econ 102 final study guide

Supply topics and quizzes. Market equilibrium topics and quizzes. Consumer Behavior Consumer Behavior topics and quizzes. Elasticity topics and quizzes. What is elasticity of demand Why is it important? Types of Elasticity of demand Ed Determinants of elasticity of demand Price elasticity of demand Ed Income elasticity of demand IEd Cross elasticity of demand: Edxy Ed and Total Revenue Measuring elasticity of demand using the mid-point method to do What is elasticity of supply Determinants of elasticity of supply Types of Elasticity of supply Es : Price elasticity of supply Esand its measurement: Measuring elasticity of supply to do.

Perfect Competition Perfect Competition topics and quizzes. Monopolistic Competition topics and quizzes. Oligopoly topics and quizzes. Monopoly topics and quizzes. Wages Wages topics and quizzes. Rent topics and quizzes. Interest topics and quizzes.

Complete Macroeconomics Study Guide-AP/IB/College

Market failure and regulation topics and quizzes. Poverty topics and quizzes. International Trade International Trade topics and quizzes. Why trade? International Finance topics and quizzes. Microeconomics Study Guide for College Students Here you can study Microeconomics topics taught at a typical college level course.

You can pick any topic from the menu above, study the topic and click on the quiz button to practice quizzes. All rights reserved.Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck! Premium members get access to this practice exam along with our entire library of lessons taught by subject matter experts.

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Based on your results, we'll create a customized Test Prep Plan just for you! Study more effectively: skip concepts you already know and focus on what you still need to learn. Launch practice test. Don't show me this page again. Free Practice Test Instructions: Choose your answer to the question and click 'Continue' to see how you did. Answered 0 of 15 questions. Start Free Practice Test. Are you sure you want to restart your practice test?

You will lose all saved answers. Cancel Restart Exam. Question 1 1. What entity is involved when banks agree to pay the discount rate for direct borrowing? Question 2 2. Money supply and inflation are two items that factor into WHAT monetary theory?

Question 3 3. The New York branch of the Federal Reserve:. Question 4 4.Sign in. Don't have an account? We weren't able to detect the audio language on your flashcards. Please select the correct language below.

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Study your flashcards anywhere! How to study your flashcards. Play button. Card Range To Study through. The limited nature of society's resources. The study of how people allocate their limited resources to satisfy their nearly unlimited wants; they study of how people make decisions.

econ 102 final study guide

Rationality Assumption. People do not intentionally make decisions that would leave them worse off.

econ 102 final study guide

The pursuit of one's goals, does not always mean increasing one's wealth; ex: prestige, friendship, love. Something that incites or tends to incite to action or greater effort, as a reward offered for increased productivity. Positive Incentives.

Economics 102: Macroeconomics

Things that make you feel good; rewards. Negative Incentives. Direct Incentives. Indirect Incentives. Secondary changes in behavior; not intended; got something you didn't want; can be good or bad changes. Unintended Consequences.I don't want to reset my password. Class notes for the first two weeks, and book notes from chapters 6, 7, and 8 from the Macro textbook Krugman. Basic Macro overview is covered, along with inflation, GDP, circular flow diagrams and the flow of money through an economy, price levels, and unemployment.

Study Guide for Exam 1, with material up to Chapter 8, covering unemployment, circular flow, price indexes, inflation, and GDP. Notes from the past week and a half in class, covering mostly price indexes and unemployment. The last week of notes, covering how to stimulate the economy as a whole, specifically the keynesian position and its opposing view. Study guide based of off Greer's study guide and book notes on Chapter 9 and Study guide for Exam 4- covers spending and tax multipliers, money supply, fiscal policy, etc.

Professor prefers to lecture via powerpoint to cover some of the assigned reading. It is advised to at least skim reading in addition to attending lectures for comprehension. Log in Sign Up. Forgot password? Register Now. Already have an account? Login here. View Full Document.

Week 4 Notes Spring Mark Greer ECON The last week of notes, covering how to stimulate the economy as a whole, specifically the keynesian position and its opposing view. StudySoup Inc, Related Flashcards. Create Flashcards Flashcards.

ECON 102 Final Exam Live Stream

Econ Exam 3. View Flashcards. Number of cards: All 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Changes are done, please view the flashcard.

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Math Exam. Botany Exam. Chemistry Exam. Front Back The table above shows the exchange rates between various currencies and the U. A depreciated; appreciated B appreciated; appreciated C depreciated; depreciated D appreciated; depreciated. The demand curve for U. A appreciates; more B depreciates; more C depreciates; less D appreciates; less. The higher the exchange rate today, the A smaller is the expected profit from buying foreign currency today and holding it.

B greater is the expected profit from buying U. C greater the quantity of U. D smaller is the expected profit from buying U. A higher; more expensive B lower; cheaper C lower; more expensive D higher; cheaper.

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Airbus is a European jet airline producer. Indian Airlines wants to buy 23 Airbus planes from Airbus, due to increased demand for world travel. B demand curve for euros shifts leftward. C demand curve for euros shifts rightward.

C demand curves for euros shifts rightward. If the interest rate in the United States increases, then in the foreign exchange market the A supply of U. B demand for U.