This is where the ECO 202 practice problem bank will go!
Question #1: A country saves ¼ of any increase in disposable income. Then government purchases, G, decrease by 100. In what direction and by how … Read More
Question #1: Total output within the 50 states is 2400 in a year when the total income of american workers and firms is 3500. American … Read More
Imagine you are studying a small island economy. If you wanted to predict things like inflation or business lending, it would be very important to … Read More
When learning about the loanable funds theory of interest, it is important to remember that interest rates are a price…just like anything else in economics. … Read More
Let’s say you lent your friend $5 to buy 20 gum-balls for 25¢ each. You agree that he will pay you $10 in one year’s … Read More
We’ll start with stock, and then get to flow. Stock explained Imagine you carry your wallet around with you everywhere you go. Periodically, some bills … Read More