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EC 202 MIDTERM 2 MSU ACKERMANN QUESTIONS WITH COMPLETE ANSWERS

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EC 202 MIDTERM 2 MSU ACKERMANN QUESTIONS WITH COMPLETE ANSWERS

Institution
EC 202
Course
EC 202

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economic growth is the same as


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GDP growth




leverage ratio equation


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LR = A/E




Aggregate Expenditure formula

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AE = C + I + G + NX




productivity equation


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output/time worked




what does a dollar bill say on it?


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Federal Reserve Note




CPI formula


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(cost of basket in current year/cost of basket in base year) x 100




leverage ratio


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, the ratio of assets to owner's equity




unit of account


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easily compare the value of two goods




disposable income formula


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Y-T




productivity


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the quantity of goods produced per unit of labor input




when AS changes (phillips model)


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Institution
EC 202
Course
EC 202

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