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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