100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Final Exam (multiple choice) Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ | CA$22.12
Add to cart
Quickly navigate to
Preview
  2.  
  3. York University (Ebor )
  4.  
  5. Faculty Of Liberal Arts & Professional Studies (LA
  6.  
  7. ECON 1000 - Introduction to Microeconomics

Exam (elaborations)

ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Final Exam (multiple choice) Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ |
 9 views  0 purchase

ECON 1000 - Introduction to Microeconomics 2024 – 2025 ECON 1000 Final Exam (multiple choice) Questions with Verified Solutions | 100% Pass Guaranteed | Graded A+ |

Preview 4 out of 32  pages

Document information

  • October 18, 2024
  • 32
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • econ 1000 final exam
  • econ 1000 introduction to microeconomics 2024
  • econ 1000 introduction to microeconomics

Written for

All documents for this subject (12)

Seller

avatar-seller
YourAssignmentHandlers

Reviews received

Content preview

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!

Need Writing Help? We've Got You Covered! ✍️
100%
NO AI or Plagiarism Usage Guaranteed🎯
💬 Chat with us here: 📧 Hybridgrades101@gmail.com

, ECON 1000 - Introduction to Microeconomics 2024 –
2025 ECON 1000 Final Exam (multiple choice)
Questions with Verified Solutions | 100% Pass
Guaranteed | Graded A+ |

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

The invisible hand principle indicates that competitive
markets can help promote the efficient use of resources
a. if, and only if, businesses recognize their social
obligation to keep costs low and use resources wisely.
b. only if buyers and sellers really care, personally,
about economic efficiency.
c. even if business firms fail to produce goods
efficiently.
d. even when each market participant cares only about
their own self-interest rather than about the overall
efficiency of resource use. - Answer>> d. even when
each market participant cares only about their own self-
interest rather than about the overall efficiency of
resource use.


Which of the following best describes the system of
social coordination called "the invisible hand," which
was first described by Adam Smith?
a. Producers control the price, output, and quality of
goods and services.

Need Writing Help? We've Got You Covered! ✍️
100%
NO AI or Plagiarism Usage Guaranteed🎯
💬 Chat with us here: 📧 Hybridgrades101@gmail.com

,b. Central planners direct both the output of producers
and the consumption of purchasers.
c. Prices direct suppliers toward production of goods
that generate profits, and consumers to purchase
goods that improve their well-being.
d. Consumers decide how to produce the most
important goods and services. - Answer>> c. Prices
direct suppliers toward production of goods that
generate profits, and consumers to purchase goods
that improve their well-being.


Mediocre economists often consider only the immediate
direct effects of a change, whereas a good economist
will also consider indirect effects that may only become
observable over time. This statement most clearly
emphasizes
a. the law of comparative advantage.
b. the importance of secondary effects.
c. economizing behavior.
d. the gains derived from voluntary exchange. -
Answer>> b. the importance of secondary effects.


The U.S. government subsidizes the production of
ethanol from corn and requires gasoline to contain a
specific percentage of ethanol.What are the unintended
consequences of this program?
I. higher corn prices


Need Writing Help? We've Got You Covered! ✍️
100%
NO AI or Plagiarism Usage Guaranteed🎯
💬 Chat with us here: 📧 Hybridgrades101@gmail.com

, II. higher prices for cornbread and tortillas, products
made from corn
III. lower prices for gasoline because corn is a
renewable resource
Select one:
a. I, II, and III
b. II only
c. I only
d. I and II - Answer>> d. I and II


Which of the following is most important for the
achievement of higher income levels and living
standards?
a. restriction of imports that expand employment in the
protected industries
b. increases in government spending that create jobs
c. production of additional goods and services that
people value highly relative to the cost of their
production
d. an increase in total employment - Answer>> c.
production of additional goods and services that people
value highly relative to the cost of their production


When individuals increase their personal wealth
through production and exchange, they
Select one:

Need Writing Help? We've Got You Covered! ✍️
100%
NO AI or Plagiarism Usage Guaranteed🎯
💬 Chat with us here: 📧 Hybridgrades101@gmail.com

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller YourAssignmentHandlers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$22.12. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53022 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$22.12
  • (0)
Add to cart
Added