FINAL EXAM ECON 201 OL4 US2 FALL 2014

Aug 9th, 2016
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1) ________ is a situation in which resources are limited in quantity and can be used in different ways. A) Choice B) Economics C) Supply and demand D) Scarcity 2) The single largest expenditure component in GDP is: A) consumption expenditures. B) private investment expenditures. C) net exports. D) government purchases. 3) In the circular flow diagram, the different payments made by firms to households are: A) rent on office and factory buildings. B) interest on borrowed money. C) wages and salaries. D) all of the above. 4) is commonly defined as six consecutive months of declining real GDP. A) A recession B) An expansion C) A peak D) A trough 5) If gross investment in 2009 is $600 billion and depreciation in 2012 is $50 billion, net investment in 2012 is: A) $600 billion. B) $50 billion. C) $550 billion. D) none of the above. 6) The number of people classified as employed is 220,000 and the number of people classified as unemployed is 30,000. T

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FINAL EXAM ECON 201 OL4 US2 FALL 20141) ________ is a situation in which resources are limited in quantity and can be used indifferent ways.A) ChoiceB) EconomicsC) Supply and demandD) Scarcity2) The single largest expenditure component in GDP is:A) consumption expenditures.B) private investment expenditures.C) net exports.D) government purchases.3) In the circular flow diagram, the different payments made by firms to households are:A) rent on office and factory buildings.B) interest on borrowed money.C) wages and salaries.D) all of the above.4) is commonly defined as six consecutive months of declining real GDP. A) A recessionB) An expansionC) A peakD) A trough5) If gross investment in 2009 is $600 billion and depreciation in 2012 is $50 billion, netinvestment in 2012 is:A) $600 billion.B) $50 billion.C) $550 billion.D) none of the above.6) The number of peop

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