Econ 1000 exam 1 Study guides, Class notes & Summaries

ECON 1000 exam 1 UPDATED Exam Questions and CORRECT Answers Efficient - CORRECT ANSWER- Point on the PPF that lies exactly on the line Production Possibilities Schedule: 0 80 20 60 40 40 60 20 80 0 GB Corn What does this show? - CORRECT ANSWER- There is an opportunity cost when

Econ 1000 Exam 1 Latest 2023 with complete solution

Econ 1000 Quiz 2 UPDATED Exam Questions and CORRECT Answers Three Fundamental Economic Questions - CORRECT ANSWER- 1. What to produce? 2. How to produce? 3. For whom to produce? Goods and Services - CORRECT ANSWER- Outputs of the production process, such as food, clothing, shelter, healthcare, education, and entertainment

MACRO ECON 101 PRACTICE QUESTIONS FOR THE FIRST EXAM 2022-2023 1. If a level of production is feasible then: a) it is efficient b) it is inefficient c) it can be either efficient or inefficient d) it is on the PPF 2. Consider the following PPF: Wheat 0 10 20 30 40 Corn 1000 900 700 450 0 Which of the following statements is true? a) the opportunity cost of 1000 units of corn is 0 units of wheat b) the opportunity cost of 10 units of wheat is 100 units of corn c) the oppor...

Study Outline for Econ S10b Midterm Exam Harvard University, Summer School Note: The assigned readings are potential sources for exam questions. I will NOT ask narrow factual questions about these readings, but you should be able to relate their main arguments to the material we have discussed in class. Note: The following outline does NOT cover everything we have studied in the class. All concepts and applications that we have discussed in class are possible exam topics. Good items to st...

Econ 202 Exam 3 Questions and Answers Which of the following is considered money in macroeconomics? A house with an ocean view A quarter left on the sidewalk A million shares of Apple Inc. Biggest diamond ring in the world All of the above A quarter left on the sidewalk (can directly use to pay) Salt is a better candidate for money than gape tomatoes because it is a better____. Medium of exchange Unit of account Store of value Store of value (grape tomatoes can spoil and go bad...

ECON MISC QUESTIONS AND ANSWERS WITH EXPLANATION A nurse is caring for a client who has a percutaneous endoscopic gastrostomy (PEG) tube and is receiving intermittent feedings. Prior to initiating the feeding, which of the following actions should the nurse take first? A. Flush the tube with water. B. Place the client in semi-Fowler's position. C. Cleanse the skin around the tube site. D. Aspirate the tube for residual contents. - CORRECT ANSWER B. Place the client in semi-Fowler's...

Econ 101 Final exam 1. A change in the price of a good has two effects on quantity demanded; these are A. the income effect and the utility effect. B. the substitution effect and the utility effect. C. the indifference effect and the substitution effect. D. the income effect and the substitution effect. E. the indifference effect and the income effect. 2. Assume that the technology used by firms improves. As a result, supply shifts from to and the equilibrium price moves f...