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ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Exam 1 Prep (multiple choice) Questions and Answers | 100% Pass Guaranteed | Graded A+ | CA$21.58   Add to cart
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ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Exam 1 Prep (multiple choice) Questions and Answers | 100% Pass Guaranteed | Graded A+ |
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ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Exam 1 Prep (multiple choice) Questions and Answers | 100% Pass Guaranteed | Graded A+ |

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  • October 18, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • econ 1000 exam 1
  • econ 1000 introduction to microeconomics 2024
  • econ 1000 introduction to microeconomics
  • econ 1000 exam 1 prep multiple choice questions

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York University
Toronto, Ontario, Canada

ECON 1000 - Introduction to Microeconomics
ECON 1000 Exam

Course Title and Number: ECON 1000 - Introduction
to Microeconomics
Exam Title: ECON 1000 Exam
Exam Date: Exam 2024- 2025
Instructor: [Insert Instructor’s Name]
Student Name: [Insert Student’s Name]
Student ID: [Insert Student ID]

Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
4. Ensure all answers are final before submitting the exam.
5. Please answer each question below and click Submit when you
have completed the Exam.
6. This test has a time limit, The test will save and submit
automatically when the time expires
7. This is Exam which will assess your knowledge on the course
Learning Resources.


Good Luck!

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, ECON 1000 - Introduction to Microeconomics 2024 –
2025 ECON 1000 Exam 1 Prep (multiple choice)
Questions and Answers | 100% Pass Guaranteed |
Graded A+ |

Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -



Which of the following would be a part of
macroeconomics?

a. A study of unemployment, inflation rate and GDP
b. A study of the unemployment of workers displaced
by technological change in the typesetting industry.
c. A study of the change in automobile sales due to a
change in the price of automobiles.
d. A study of the impact of a tax reduction on the
profits of a business. - Answer>> A

The Incentive Principle states that ...

a. an action should be taken if and only if the additional
benefits from taking the action are at least as great as
the additional costs of doing so.
b. a rational person will engage in more of the activity if
the marginal benefit of an activity increases
c. a society can produce a greater amount of total
output when individuals focus their production on those
activities for which they have a comparative
advantage.
d. having more of one thing usually means getting by
with less of something else - Answer>> B
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, It is unfortunate accident but you accidentally cut off
the tip of your finger while preparing supper. At the
same time you hear of an earthquake in Myanmar. If
you were more upset and burdened by the loss of your
finger than the loss of 1,000 lives of complete
strangers, then it would seemingly suggest that you are
not a bad person but rather

a. not as good of a person as others.
b. do not care about anyone other than yourself.
c. a self-interested individual.
d. an irrational individual. - Answer>> C

Those decision making entities whom benefit from the
consumption of goods and services are known as
_________________.

a. Politicians
b. Economists
c. Firms
d. Households - Answer>> D

Choose the most appropriate statement regarding the
Production Possibilities Frontier (PPF):

a. "All Attainable combinations of output are
characterized by Productive Efficiency."
b. "A combination of goods is considered Unattainable
or Impossible if it cannot possibly be produced with the
currently available technology and resources."
c. "A combination of goods is characterized by
Productive Inefficiency if it cannot possibly be produced
with the currently available resources and technology."
d. None of the above answers are correct. - Answer>> B

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