ECO 302 Week 2 Quiz Strayer “� � Question 1 5 out of 5 points � � � When GDP is expanding toward a high point it is called a[n]: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 2 5 out of 5 points � � � A trough in an economy is when the economy: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 3 5 out of 5 points � � � When real GDP falls toward a low point or trough it is called a[n]: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 4 5 out of 5 points � � � In a macroeconomic model, the term disequilibrium refers to Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 5 5 out of 5 points � � � When a country follows a gold standard, Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 6 5 out of 5 points � � � In a macroeconomic model with perfect competition, Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 7 5 out of 5 points � � � The dollar price paid to use capital is known as: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 8 0 out of 5 points � � � An economic recession ends when Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 9 5 out of 5 points � � � A price taker: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 10 0 out of 5 points � � � In a macroeconomic model, the term disequilibrium refers to Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 11 5 out of 5 points � � � Macroeconomics deals with: Answer � � � � � � � � � � � � � � � � � � � � � � � “� � Question 12 0 out of 5 points � � � An economic expansion ends when the economy Answer
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