ECON 1000 Midterm: ECON 1000 Kennesaw State ECON1000 Spring2018 Exam2B
Document Summary
The _________________ function of government refers to government policies aimed at changing the final apportionment of goods/services across consumers, usually with the intention of realizing a fairer allotment of consumption/income/wealth. The efficient level of trade is defined as the level of trade which maximizes total social surplus. maximizes total consumers" surplus. minimizes the difference between total consumers" surplus and total producers" surplus. maximizes deadweight loss. Focusing on the unemployment rate in the united states (reported on a monthly basis) between. January 1948 and december 2015, the highest realized level was a rate of. Good y is non-rival in consumption and non-excludable. Real gdp in the u. s. slightly decreased, from ,231 to ,837 (in 2009 dollars). Real gdp per capita in the u. s. became roughly 8. 3 times larger, increasing from. Nominal gdp in the u. s. became roughly 460. 2 times larger, increasing from . 0 billion to ,947. 0 billion. More than one (perhaps all) of the above answers are correct.
