SESSION:12 The Keynesian Perspective
Answer Key
Session:12 The Keynesian Perspective Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. An increase in home values will increase consumption spending (due to increased wealth). AD will shift to the right and may […]
SESSION:11 The Aggregate Demand/Aggregate Supply Model
Answer Key
Session:11 The Aggregate Demand/Aggregate Supply Model Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. In order to supply goods, suppliers must employ workers, whose incomes increase as a result of their labor. They […]
SESSION:10 The International Trade and Capital Flows
Answer Key
Session:10 The International Trade and Capital Flows Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. The stock and bond values will not show up in the current account. However, the dividends from the […]
SESSION:9 Inflation
Answer Key
Session:9 Inflation Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. To compute the amount spent on each fruit in each year, you multiply the quantity of each fruit by the price. 10 apples […]
SESSION:8 Unemployment
Answer Key
Session:8 Unemployment Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. The population is divided into those “in the labor force” and those “not in the labor force.” Thus, the number of adults not […]
SESSION:7 Economic Growth
Answer Key
Session:7 Economic Growth Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. The Industrial Revolution refers to the widespread use of power-driven machinery and the economic and social changes that resulted in the first […]
SESSION:6 The Macroeconomic Perspective
Answer Key
Session:6 The Macroeconomic Perspective Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. GDP is C + I + G + (X – M). GDP = $2,000 billion + $50 billion + $1,000 billion […]
SESSION:5 Elasticity
Answer Key
Session:5 Elasticity Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. From point B to point C, price rises from $70 to $80, and Qd decreases from 2,800 to 2,600. So: % change in quantity% change in priceElasticity of Demand========2600–2800(2600+2800)÷2× 100–2002700× […]
SESSION:4 Labor and Financial Markets
Answer Key
Session:4 Labor and Financial Markets Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. Changes in the wage rate (the price of labor) cause a movement along the demand curve. A change in anything […]
SESSION:3 Demand and Supply
Answer Key
Session:3 Demand and Supply Answer Key Principles of Macroeconomics 3e | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-macroeconomics-3e 1. Since $1.60 per gallon is above the equilibrium price, the quantity demanded would be lower at 550 gallons and the quantity […]