Find study materials for any course. Check these out:
Browse by school
Make your own
To login with Google, please enable popups
To login with Google, please enable popups
Don’t have an account?
To signup with Google, please enable popups
To signup with Google, please enable popups
Sign up withor
___________ fiscal policy is fiscal policy that is the result of deliberate action by policy makers rather than rules.
If investors expect a stock will be more valuable in the future, their demand for the stock will _______, and the price of the stock will _______.
· Increasing, increasing
1) Integrity is Essential
2) Accountability is Fundamental to All Commiments
3) Life Long Learning and Growth are Vital
4) Strengthing Community is Essential to our Vitality
5) Brotherhood Sustains Us
(6) Truth, Courage, Faith and Power is Foundation
Delta Tau Delta, Delta
You are my safest Shelter,
Sing we to dear old Delta,
Oh, how I love her!
Dear Delta Tau,
Who are the founders?
T- Eugene Tarr
H- John Lucius Newton Hunt
E- Alexander Campbell Earle
J- John Callhoun Johnson
A- Richard Havener Alfred
B- Henry King Bell
L- Jacob Snedecker Lowe
C- William Randolph Cunningham
What happened in 1858?
Why was the fraternity created at Bethany College?
What happened in 1866?
The Fraternity merges with the Rainbow Fraternity.
1) Recognition for Execellence in our Adopt-A-School program.
2) Meeting the challenge of 10% growth in membership from the previous year by attaining a 21% increase in membership.
3) Been recognized at past Greek awards banquets for (1) Fraternal Excellence (2) Oustanding Recruitment (3) Oustanding Educational Programming
(1) 3.3 GPA or better for spring and 3.5 GPA for fall.
(2) Dean's list or campus equivalent
It means First Among Equals.
Which of the following is true of trade-offs?
· if you attend college, the trade-off is current income foregone in order to have a higher income in the future.
Market failure means that
· the individual pursuit of self-interest resulted in an inefficient outcome.
If the government wants to increase spending, an appropriate macroeconomic policy is
an increase in government spending.
The benefits of specialization and the gains from trade were described in 1776 by _________ in __________.
· Adam Smith; The Wealth of Nations
Suppose that in a day a worker in the United States can produce 10 bushels of corn or 2 shirts. In Russia a worker can produce 9 bushels of corn or 3 shirts in one day. Which of the following would benefit both the United States and Russia if trade occurred?
· 1 shirt for 4 bushels of corn
If consumers expect that the price of coffee will be lower in the future
· the demand for coffee will decrease and the demand curve will shift to the left.
If beef and leather are complements in production, when the price of beef increases, what happens in the market for leather?
· The supply of leather increases.
Suppose that students at Big University buy season football tickets at the beginning of the fall semester. Everyone expects that the team will have a terrible season. Students sell individual tickets throughout the season in a competitive market. They can sell tickets to later games (more exciting match-ups) immediately or wait for the game day to approach. If they think the team will have a terrible season, what will happen in the market for Big University football tickets?
If the price of e-books, a substitute for printed textbooks, decreases
· the demand for printed textbooks will decrease.
Which of the following will cause a decrease in demand for coffee, a normal good?
· a decrease in the price of hot tea, a substitute
An oil refiner can produce either gasoline or heating oil from crude oil. To the refiner, gasoline and heating oil are:
· substitutes in production.
In the Ricardian model of international trade, the shape of the production possibilities curve is a(n) _______.
· Straight line
If the world price is less than the autarky price and the domestic country imports the good, the domestic price of the good will
→ If the world price is less than the autarky price and the good is imported, the domestic price will fall.
________ are periods of economic downturn when output and employment are falling.
Monetary policy involves changing the _________ to change ________ in order to change spending.
· Money supply; interest rates
Before the 1930s
· Economists thought that no government intervention was needed in an economic slump.
Fiscal policy is conducted by
· Congress and the president
· Is the same thing as a recession
________policy involves changing government spending to affect overall spending.
_______ buy resources in the factor markets.
A(n) ________ compares the cost of purchasing a given market basket in a given year to the cost of purchasing the market basket in the base year.
· Price Index
The ________ is the percentage change per year in a price index.
· Inflation rate
The ________ for a given year is 100 times the ratio of nominal GDP to real GDP in that year.
· GDP deflator
Which of the following equations shows the proper way to calculate GDP as the factor income earned from firms in the economy?
[[This is how GDP measured as the sum of the value of final good is calculated.]]
· GDP= wages+rent+interest payments+profit
Which of the following is NOT included in the calculation of GDP?
· Intermediate goods
_________ costs are the increased costs of transactions caused by inflation.
The financial assets with the highest returns are usually
A pension fund is a type of _____________ that holds ___________ in order to provide retirement income to its members.
· Mutual fund assets
True or False? When interest rates increase, the demand for real estate increases, and the prices of houses increase.
→ When interest rates increase, the demand for real estate decreases, and the prices of houses decrease.
Which of the following is NOT a problem that a financial system solves in a cost effective way?
· Reducing inflation
If interest rates increase, the price of stocks will
If interest rates increase, the value of existing bonds will
True or False? Banks borrow money mostly for a long term and lend mostly for the short term.
Which of the following would be considered the most liquid asset?
True or False? If a firm finances investment spending out of retained earnings, the relevant interest rate that is compared to the project's rate of return should be lower than if the firm had to borrow the money.
As prices increase in the short run, output increases because
· Wages are sticky and profit per unit increases
Suppose the economy is in long-run macroeconomic equilibrium and there is a stock market boom. We can assume that, in the short run, because of the boom in stock prices
· An inflationary gap will occur
In the long run, all prices are
True or False? In the long run, the price level has no effect on aggregate supply.
An event that shifts the aggregate demand curve is a(n) ___________.
· Demand Shock
_______taxes are taxes that don't depend on the taxpayer's income.
The largest source of tax revenue in the United States is from
· Personal income taxes
During a recession, taxes _______ and transfers _______.
· Decrease, increase
True or False? One advantage of fiscal policy is that spending occurs quickly and has its full impact immediately.
_________ are government spending and taxation rules that cause fiscal policy to be automatically expansionary when the economy contracts and automatically contractionary when the economy expands.
· Automatic Stabilizers
Most economists believe that
· Deficits should be run when the economy is bad
Silver Certificates are an example of:
· Commodity-backed money
Taco Bell accepts your $5 in cash as payment for three tacos. This is an example of money role as a(n):
· Medium of exchange
When Jerry tries to decide whether to buy a Camry for $22,000 or a Civic for $20,000, he is using money as a(n)
· Unit of account
The __________ is an arrangement in which the Federal Reserve stands ready to lend money to banks in trouble.
· Discount window
If Emily deposits $1,000 in Big Bank, the bank's reserves increase by $_______ and the bank's deposits increase by $______.
· 1000, 1000
If the Fed pursues an expansionary monetary policy, interest rates will _______.
If the Fed increases interest rates with a contractionary monetary policy, then planned investment spending will _______ and aggregate expenditures will ______.
· Decrease, decrease
True or False? The slope of the money demand curve is positive.
A basis point is equal to ____ percentage point.
True or False? During the 1960s, economists believed that there was a trade-off between inflation and unemployment.
The short-run Phillips curve would shift up if the
· Short-run aggregate supply curve shifts to the left
True or False? A supply shock causes a movement along the short-run Phillips curve.
_______ law is the negative relationship between the output gap and cyclical unemployment.
The relationship between unemployment and inflation was explained in 1958 by
· A.W.H. Phillips
The revenue generated by the government's right to print money is _______.
The ______ exchange rate is the exchange rate unadjusted for aggregate price levels.
Currencies are traded in the _________ market.
· Foreign exchange
The prices at which currencies trade are called ________.
· Exchange rates
When a currency becomes less valuable in terms of other currencies, it ________.
The ___________ between two countries' currencies is the nominal exchange rate at which a given basket of goods and services would cost the same amount in each country.
· Purchasing power parity
__________ are funds sent by residents of one country to residents of another country.
· International transfers
True or False? In the real world, gross capital flows move in both directions.
True or False? To fix the exchange rate of its currency, a government uses exchange market intervention.