Economics 201 exam - Study guides, Class notes & Summaries
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Economics 201 Final Exam questions with answers
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Economics 201 Final Exam questions with answers 
Definition of Economics -Correct Answer-A social science concerned chiefly with description and analysis of the production and consumption of goods and services 
 
Definition of Scarcity -Correct Answer-Not abundant or plentiful 
 
4 types of economic resources -Correct Answer-Land, Labor, Capital, Entrepreneurship 
 
Definition of Opportunity Cost -Correct Answer-The value of what is sacrificed to get something else 
 
Explicit cost -Correct Answ...
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ECON 201 The Miniature Economics Final Exam Questions and Answers
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ECON 201 The Miniature Economics Final Exam Questions and Answers 
 
Marginal choice 
A small, incremental adjustment to a play of action. Ex) "Should I leave the party now or wait another 10 mins to see if cool people show up? 
Economy 
Consists of all the choices made by a group of people 
Positive statements 
Descriptive and attempt to describe the world as it is 
Normative statements 
Prescriptive and attempt to prescribe how the world should be 
Scarcity 
Is the limited nature of society'...
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ECON 201 Exam 2 Questions and Correct Answers | Latest Update
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In economics, a firm that faces no competitors is referred to as _________________. 
A. an oligopoly 
B. a monopoly 
C. a perfect competitor 
D. an oligopolizor 
 B. a monopoly 
________________________ arises where many firms are competing in a market to sell 
similar but differentiated products. 
A. Oligopolistic competition 
B. Perfect competition 
C. Monopolistic competition 
D. Monogopolised competition 
 C. Monopolistic competition 
A firm's ___________ consist of expenditures tha...
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NURS 661 - Exam 2 Questions and Complete Solutions.
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NURS 661 - Exam 2 Questions and Complete Solutions 
 
BLOCKING - Ans: (Being able to intervene effectively, without attacking anyone, when members engage in counterproductive behaviors). Intervening to stop counter productive group behavior 
 
EMPATHIZING - Ans: (Intuitively sensing the subjective world of others in a group, being able to adopt the frame of reference of others, and communicating this understanding to clients so they feel understood). The aim is to foster trust in the therapeutic...
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Exam APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+
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Exam 
APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+ 
Second Midterm 
Economics 201 
Spring Quarter 2007 
Mark Witte 
Northwestern University 
Do not turn this exam over or begin working until you are told to. 
You should keep the test questions. 
Only hand in the answer sheet. 
We will post scores and grades on Blackboard as soon as we can. Tests will be returned in 
TA sections. There will be no quiz this week, but the TAs will cover important material. 
Put your na...
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Econ 201 Principles of Economics Exam Questions and Answers 2022
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Econ 201 Principles of Economics Exam Questions and Answers 2022 
 
Policies taken to move the economy closer to potential output 
Are called stabilization policies 
What are the two tools of fiscal policy that governments can use to stabilize an economy 
government spending and taxation 
Contractionary policies are policies designed to 
reduce the level of real GDP 
Expansionary policies are policies designed to 
increase the level of real GDP 
A White House proposal to increase infrastructure ...
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Econ 201 Principles of Economics Exam Questions and Answers 2022
- Exam (elaborations) • 5 pages • 2022
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Econ 201 Principles of Economics Exam Questions and Answers 2022 
 
Policies taken to move the economy closer to potential output 
Are called stabilization policies 
What are the two tools of fiscal policy that governments can use to stabilize an economy 
government spending and taxation 
Contractionary policies are policies designed to 
reduce the level of real GDP 
Expansionary policies are policies designed to 
increase the level of real GDP 
A White House proposal to increase infrastructure ...
-
Econ 201 Principles of Economics Exam Questions and Answers 2022
- Exam (elaborations) • 5 pages • 2022
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Econ 201 Principles of Economics Exam Questions and Answers 2022 
 
Policies taken to move the economy closer to potential output 
Are called stabilization policies 
What are the two tools of fiscal policy that governments can use to stabilize an economy 
government spending and taxation 
Contractionary policies are policies designed to 
reduce the level of real GDP 
Expansionary policies are policies designed to 
increase the level of real GDP 
A White House proposal to increase infrastructure ...
-
Econ 201 Principles of Economics Exam Questions and Answers 2022
- Exam (elaborations) • 5 pages • 2022
-
- $11.49
- + learn more
Econ 201 Principles of Economics Exam Questions and Answers 2022 
 
Policies taken to move the economy closer to potential output 
Are called stabilization policies 
What are the two tools of fiscal policy that governments can use to stabilize an economy 
government spending and taxation 
Contractionary policies are policies designed to 
reduce the level of real GDP 
Expansionary policies are policies designed to 
increase the level of real GDP 
A White House proposal to increase infrastructure ...
-
Econ 201 Principles of Economics Exam Questions and Answers 2022
- Exam (elaborations) • 5 pages • 2022
-
- $11.49
- + learn more
Econ 201 Principles of Economics Exam Questions and Answers 2022 
 
Policies taken to move the economy closer to potential output 
Are called stabilization policies 
What are the two tools of fiscal policy that governments can use to stabilize an economy 
government spending and taxation 
Contractionary policies are policies designed to 
reduce the level of real GDP 
Expansionary policies are policies designed to 
increase the level of real GDP 
A White House proposal to increase infrastructure ...
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