Econ 201 - Study guides, Class notes & Summaries

ECON 201 EXAM 2

ECON 201 EXAM #1 TERMS!!

ECON 201 Week 6 Quiz (Chapter 9 & 10)- Microeconomics for Business (100.0 out of 100.0 Points ) winter exam actual update University of Maryland

Econ 201 Exam 2|206 Questions with Verified Answers The amount of a good that households want to consume given their income and prices in a given time period - CORRECT ANSWER quantity demanded shows the relationship between the price level and the quantity demanded - CORRECT ANSWER demand schedule as the price of a good increases, the quantity demanded falls - CORRECT ANSWER law of demand the price of a good compared to the price of another good - CORRECT ANSWER relative price as ...

Econ 201 Final UPDATED Exam Questions and CORRECT Answers 1. A profit-maximizing firm will: A. expand employment if marginal revenue product equals marginal resource cost. B. reduce employment if marginal revenue product equals marginal resource cost. C. reduce employment if marginal revenue product is less than marginal resource cost. D. expand employment if marginal revenue product is less than marginal resource cost. - CORRECT ANSWER - C

Econ 201 Exam 393 Questions with Verified Answers Historical evidence suggests that: - CORRECT ANSWER free economies perform better than command economies in the long run. Understanding the impact of carbon taxes on the energy usage of individual households and firms is studied under: - CORRECT ANSWER microeconomics. Which of the following is an example of a topic studied by macroeconomists? - CORRECT ANSWER Total output of an economy An outcome is Pareto efficient if: - CORRECT ANSW...

American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT

Econ 201 Final UPDATED ACTUAL Exam Questions and CORRECT Answers Describe fiscal policy. - CORRECT ANSWER - involves changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives What are automatic stabilizers? - CORRECT ANSWER - 1. government spending and taxes that automatically increase or decrease along with the business cycle 2. spending and tax changes that increase or decrease

Econ 201 Midterm Exam 191 Questions with Verified Answers Scarcity - CORRECT ANSWER Refers to the limited nature of a resource given society's unlimited wants and needs. Economics - CORRECT ANSWER How people allocate their limited resources to satisfy their unlimited wants. Microeconomics - CORRECT ANSWER study of individual units in an economy Macroeconomics - CORRECT ANSWER study of overall aspects of a working economy. Incentives - CORRECT ANSWER that factor that motivates p...