ECON 102 Study Guide - Final Guide: Starbucks, Mexican Peso, Fiat Money

• School: University of Illinois
• Department: Economics
• Course: ECON 102
• Professor: All

Document Summary

Part a: multiple choice questions (2 points each, total 60 points) Most economists use the aggregate demand and aggregate supply model primarily to analyze. Please mark your answers on both the exam paper and the optic sheet. 1: short-run fluctuations in the economy, the effects of macroeconomic policy on the prices of individual goods, the long-run effects of international trade policies, productivity and economic growth, recession come at, regular intervals. During recessions consumption spending falls relatively more than investment spending: regular intervals. During recessions investment spending falls relatively more than consumption spending: irregular intervals. During recessions consumption spending falls relatively more than investment spending: irregular intervals. This view that money is ultimately neutral is consistent with classical theory: affect nominal but not real variables. This view that money is ultimately neutral is inconsistent with classical theory: affect real but not nominal variables. This view that money is ultimately neutral is consistent with classical theory: affect real but not nominal variables.