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Can you name the ECON 202 midterm term?

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question
________ _______ benefits both sides
produce iff production costs are less than cost of _______
As long as someone has a ___________ _________ trade is beneficial
if a country has an absolute advantage in everything should they trade?
nations should produce goods with lowest _________ __________
2 kinds of trade barriars
2 kinds of trade barriars
Voluntary trade is ________ sum
Natural trade barrier
Natural trade barrier
un-natural trade barriar
un-natural trade barriar
reason for un-natural trade barriars
reason for un-natural trade barriars
reason for un-natural trade barriars
reason for un-natural trade barriars
In general, Both imports and exports are ______
In general, Gap is _________ between imports and exports
in last five years, the both of the previous two trends have
Most people say we are _____ off when we have a high trade _______
This is _____
Definition: Record of transactions between one country and all others
Consists of Goods and Services, Current Income from investment, and gifts.
Consists of real and financial assets, and extensions of loands
Real estate is in the _______ _______
In the U.S. we have a current account _______
In the U.S. we have a capital account
Definition: The growth rate of per capita real GDP
Rule of __
with annual economic growth rate of 5 percent, then the real gdp will be 8 times as big in __ years
question
Solow has 2 observations: 1. Walthy nations have _____ _______ ______
Solow has 2 observations: 2. ________ and _________ go together
Solow's 'Obvious' conclusion: capital ________ economic ________
Solow forgot that '_______ ______ ____ _______ _________'
Solow 1 stressed importance of
Due to law of diminishing returns marginal product is __________
point where cost of capital outweights benefits
investment minus depreciation
name the 2 implications of steady state
name the 2 implications of steady state,
solow II answers question why ______ continues
and why _______ doesn't happen
Solow II focused on idea that new ________ brings about continued growth
in solow II model technology is _________
policy implications of solow models: _________ in poor countries is good
after 50 years aid for investment and investment in poor countries has ______
After 50 years: no _______ has happened between rich and poor countries
Solows model has been varied to say that these 5 things are important to boost economy
Solows model has been varied to say that these 5 things are important to boost economy: name oneSolows model has been varied to say that these 5 things are important to boost econo
Solows model has been varied to say that these 5 things are important to boost economy: name oneSolows model has been varied to say that these 5 things are important to boost econo
Solows model has been varied to say that these 5 things are important to boost economy: name oneSolows model has been varied to say that these 5 things are important to boost econo
Solows model has been varied to say that these 5 things are important to boost economy: name oneSolows model has been varied to say that these 5 things are important to boost econo
definition: A significant practice, relationship, or organization in a nation.
growth is not random in _________ growth. (growth that is from within the system)
Proper institutions will eventually lead to
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
question
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
8 requirements of institution so that it fosters growth:
long run growth occurs _________
The three sources of economic growth (long term shift right in LRAS) are __________, _________, and __________
The three sources of economic growth (long term shift right in LRAS) are __________, _________, and __________
The three sources of economic growth (long term shift right in LRAS) are __________, _________, and __________
supply of all final goods and service
demand for all final goods and services
four sources of aggregate demand:
four sources of aggregate demand:
four sources of aggregate demand:
four sources of aggregate demand:
the slow of the aggregate demand curve is negative because of 3 reasons:
the slow of the aggregate demand curve is negative because of 3 reasons:
the slow of the aggregate demand curve is negative because of 3 reasons:
5 things that can shift aggregate demand:
5 things that can shift aggregate demand:
5 things that can shift aggregate demand:
5 things that can shift aggregate demand:
5 things that can shift aggregate demand:
definition: enough time for all prices to re adjust
SOme prices have not ______ in the short run
SRAS shifts due to three things:
SRAS shifts due to three things:
SRAS shifts due to three things:
be careful: LRAS shifts also shift ____
classical economist believed _______ ___ ______

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