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ECO231

Micro Economics

QuestionAnswer
Economic Investment is Purchase of Capital goods
National Income is Earned Income
Inflation will hurt Savers
Cost-Push inflation is Due to the rise of per unit production costs and a rise in the general price levels.
GDP includes Foreign spending on a country exports
Recession in business cycle refers to Decreasing output, income, prices and profit, as well as a Rise in unemployment
The cause of business cycles changes are mostly due to Economic shocks
The increase of real GDP is through the increase of inputs and their productivities
Cyclical unemployment is caused by a fall in total spending.
Natural rate of unemployment is full of employment and is structural and frictional unemployment
Real interest rate is Adjusted for inflation
The investment demand curve reflects a negative relationship between the real interest rate and investment.
An increase in wealth will more likely to shift the saving schedule downward and the consumption schedule upward.
An expectation of an expansion in the future will shift the saving downward
A higher real interest rates will shift the saving upward
A decrease in taxes will shift the consumption and the saving upward as well as increase disposable income.
Consumption of fixed capital is Depreciation
When the consumption is positive amount, the saving can either be a positive or a negative amount
In the investment demand curve Lesser cumulative amounts of investment are associated with lower expected rates of return on investment.
Created by: Mumpy
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