Limited time offer 20% OFF StudySoup Subscription details

UB - ECO 407 - Study Guide - Final

Created by: Jonas Ofori Elite Notetaker

> > > > UB - ECO 407 - Study Guide - Final

UB - ECO 407 - Study Guide - Final

School: University at Buffalo
Department: Economics
Course: Intermediate Macroeconomics
Professor: James Holmes
Term: Fall 2016
Tags: Economics, Math, and Data Analysis
Name: ECO 407 first 3 quizzes
Description: Part of the final cumulative quiz will consist of these quiz. It is up to date with the class.
Uploaded: 09/19/2016
This preview shows pages 1 - 2 of a 6 page document. to view the rest of the content
background image Name____________________________ID #________________are you making up an I? Quiz 1 Economics 407 Fall, 2016  Chapters 1­2 Professor James Holmes
background image From syllabus: 1) At what point will a take home quiz be considered late and you can only get ½ credit for  your correct answers? 2) If you earn the grade of Incomplete in this course, then how do you make it up?  Do you reregister? From text and lectures: 3) A) Macroeconomists focused on three (kinds of) economic variables.  Name at least two of them. B) Give two examples of non­human capital. 4) A) Explain what stagflation means. B) what does opportunity costs mean?  Explain using a paradigm. 5) In a hypothetical small, closed economy, compute GDP.  There are two kinds of firms logging sawmill firms and furniture firms.  The sawmill firms sell $6400 of their product to the furniture 
firms and pay their employees $3600 and earn a profit of $2800 in a year.  The furniture firms 
sell their output for $12000 and pay their workers $3200 and earn a profit of $2400 in the same 
year.
What is this economy’s GDP for this year? SHOW YOUR CALCLATIONS!!! 7) Using the rule of 72, approximately how many years will it take to double an investment if it 
earns at the rate of 6% per year compounded yearly?
7)  What are the two macroeconomic policies the United States government can use that could 
prevent a  recession or may hasten a recovery?
2

This is the end of the preview. Please to view the rest of the content
Join more than 18,000+ college students at University at Buffalo who use StudySoup to get ahead
6 Pages 141 Views 112 Unlocks
  • Better Grades Guarantee
  • 24/7 Homework help
  • Notes, Study Guides, Flashcards + More!
Join more than 18,000+ college students at University at Buffalo who use StudySoup to get ahead
School: University at Buffalo
Department: Economics
Course: Intermediate Macroeconomics
Professor: James Holmes
Term: Fall 2016
Tags: Economics, Math, and Data Analysis
Name: ECO 407 first 3 quizzes
Description: Part of the final cumulative quiz will consist of these quiz. It is up to date with the class.
Uploaded: 09/19/2016
6 Pages 141 Views 112 Unlocks
  • Better Grades Guarantee
  • 24/7 Homework help
  • Notes, Study Guides, Flashcards + More!
Join StudySoup for FREE
Get Full Access to UB - ECO 407 - Study Guide - Final
Join with Email
Already have an account? Login here
×
Log in to StudySoup
Get Full Access to UB - ECO 407 - Study Guide - Final

Forgot password? Reset password here

Reset your password

I don't want to reset my password

Need help? Contact support

Need an Account? Is not associated with an account
Sign up
We're here to help

Having trouble accessing your account? Let us help you, contact support at +1(510) 944-1054 or support@studysoup.com

Got it, thanks!
Password Reset Request Sent An email has been sent to the email address associated to your account. Follow the link in the email to reset your password. If you're having trouble finding our email please check your spam folder
Got it, thanks!
Already have an Account? Is already in use
Log in
Incorrect Password The password used to log in with this account is incorrect
Try Again

Forgot password? Reset it here