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Econ 2305 Questions and Answers
Econ 2305 Questions and Answers
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Econ 2305 Questions and Answers
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Scarcity? Ans- fundamental problem of economics. Finite. Limited Opportunity cost? Ans- Best foregone alternative Formula for economics? Ans- W Upward arrow infinite (unlimited wants) -------- R (resources) Cobb-Douglas Production Function? Ans- Q= f (K, L) output is a function of K (capit...
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Add to cartScarcity? Ans- fundamental problem of economics. Finite. Limited Opportunity cost? Ans- Best foregone alternative Formula for economics? Ans- W Upward arrow infinite (unlimited wants) -------- R (resources) Cobb-Douglas Production Function? Ans- Q= f (K, L) output is a function of K (capit...
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Econ 2305 final Questions and Answers
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In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the largest? Ans- education& communication, recreation, medical care. A transfer payment is a payment made by Ans- a payment for which the government receives neith...
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Add to cartIn the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the largest? Ans- education& communication, recreation, medical care. A transfer payment is a payment made by Ans- a payment for which the government receives neith...
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Econ 2305 Questions and Answers
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*Decrease in equilibrium interest rate* and an *increase in the equilibrium quantity* of *loanable funds* could be explained by? Ans- The supply of loanable funds shifted *rightward* If the *supply for loanable funds shifts to the left*, then the equilibrium *interest rate*? Ans- *Rises* and ...
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Add to cart*Decrease in equilibrium interest rate* and an *increase in the equilibrium quantity* of *loanable funds* could be explained by? Ans- The supply of loanable funds shifted *rightward* If the *supply for loanable funds shifts to the left*, then the equilibrium *interest rate*? Ans- *Rises* and ...
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