Econ final study guide Study guides, Class notes & Summaries

The study of economics involves. . . - correct answer studying how people try to satisfy their unlimited wants with limited resources What would an economist say motivates a woman who sews purses and sells them to the public? - correct answer self-interest While shopping you discover that your favorite department store has lowered the price on a new video game that you wanted to buy. However, after looking through the store you find that they are completely sold out. This scenario illustra...

The center of a normal curve is - ANSWERthe mean of the distribution For a normal distribution, a positive value of z indicates that - ANSWERthe sample mean is larger than the population mean Which of the following is not a characteristic of the normal probability distribution? - ANSWERThe standard deviation must be 1 Larger values of the standard deviation result in a normal curve that is - ANSWERwider and flatter A simple random sample of 100 observations was taken from a large pop...

ECON 200 Final Study Guide Rated A+ marginal rise; downward-sloping cyclical money market deposit accounts bank deposits at the Federal Reserve equal $0 $4 million; $40 million federal open market committee banks will have a reserve deficiency federal funds bank's reserves increase buys; Fed; lowers; reserves none of the above purchase; decrease monetarists believe that control of the money supply is very important to the health of the economy can be turned into a theory of the m...

Final Exam Study Guide Mixing of chapters to put things together: A short-run equilibrium (SRE) is an intersection between which curves? AD & SRAS A long-run equilibrium (LRE) is an intersection between which curves? AD & SRAS & LRAS (resources institutions technology) (Classify these points as short run equilibriums, long run equilibriums, recessions, and/or overheated economies and make up unemployment rates for each point) At A the economy is at Recession (U>U=5%) (U=7%) (U=17%) A...

Gross Domestic Product (GDP) - ANSWER-the total dollar amount of all final goods and services produced in a country in one year Microeconomics - ANSWER-the branch of economics that studies the economy of consumers or households or individual firms Macroeconomics - ANSWER-the branch of economics that studies the overall working of a national economy - growth, unemployment, inflation Monetary Policy - ANSWER-economic policies conducted by the countries' central bank, which manipulates th...

ECON 102 (PSU) FINAL EXAM STUDY GUIDE (with diagrams) RATED A

Econ 103 Final Exam Study Guide Economics Correct Answer: the social science which seeks to understand how humans make decisions in the face of scarcity given unlimited wants Scarcity Correct Answer: human wants for goods, services and resources exceed what is available Factors of Production Correct Answer: land, labor, capital Gross Domestic Product (GDP) Correct Answer: the total dollar amount of all final goods and services produced in a country in one year Microeconomics C...

This is a detailed and comprehensive study guide for final exams. * For students. * Its worth it.

state autonomy is - Answer- the ability of the state to wield power independent of public and international actors Which of the following combinations of capacity and internal autonomy best fits the United States - Answer- Low autonomy, high capacity Examples of states that are not or have not been considered failed states - Answer- UK, USA, Japan, India Which of the following states most closely fits the ideal model of a nation-state? - Answer- Japan Which of the following historica...

This is a comprehensive and detailed study on final exam for Econ 2020. Quality stuff!! To your advantage!!