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EC 2900 Study Guide

by: Kaylee Notetaker

EC 2900 Study Guide EC 2900 - 08

Kaylee Notetaker

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About this Document

Here is the study guide for the EC 2900 midterm for 10/21/16
Global Economic, Business and Social Issue
D.R. Fannin
Study Guide
50 ?




Popular in Global Economic, Business and Social Issue

Popular in Economics

This 2 page Study Guide was uploaded by Kaylee Notetaker on Sunday October 16, 2016. The Study Guide belongs to EC 2900 - 08 at Wright State University taught by D.R. Fannin in Fall 2016. Since its upload, it has received 13 views. For similar materials see Global Economic, Business and Social Issue in Economics at Wright State University.


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Date Created: 10/16/16
EC 2900-08 Study Guide *some material may be missing because this study guide had to be uploaded 4 days before the midterm. What is the definition of economics? _______________________________________________ What does marginalized mean? ______________________ What does ceterisparbius mean? _______________________ What does the budget line look like? What does the production possibilities curve look like? What does it mean when something is inside the production possibilities curve? ____________
 ______________________________________ What does it mean when something is outside the production possibilities curve? ___________
 __________________________________________ What is a market place? ____________________________________ What is the relationship between price and quantity in a supply graph? (positive or negative) ____________ What is the relationship between price and quantity in a demand graph? (positive or negative) ____________ What is the equilibrium point? ______________
 Name 2 determinates for supply ________________________ & ________________________ Name 2 determinates for demand _______________________ & ________________________ What is the definition of elasticity? _____________________________ Name 1 elasticity determinate ______________________ At what number does it mean perfect elasticity? _____ At what number does it mean unitary elasticity? _____ Name 1 market model ______________________ What is the definition of unemployment? ____________________________________________
 ________________________________ What does GDP stand for? ______________________________ What is the formula for GDP? ____________________________________________________ What is inflation? ______________________________ What are the 4 types of unemployment? ______________, _______________, _____________, ______________ What is money also called? ____________ What is fiat money? ______________________________ What are the 3 parts of the federal reserve system? ______________________, ___________, ___________________________


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