Econ 202 final exam - Study guides, Class notes & Summaries

ECON 202 FINAL EXAM Questions with Correct Answer1

ECON 202 FINAL EXAM Questions with Correct Answers

Econ 202 Final Exam Questions with Correct Answer2

Because people's wants are unlimited but resources are scarce, Ans: choices must be made In economics, capital is define as Ans: the natural, unskilled abilities of people The labor market is an example of a Ans: resource market In macroeconomics, we analyze Ans: the overall performance of the economy as a whole An economic model Ans: is a simplification of the real world The basic purpose of economic models is to Ans: provide explanations for, and predictions of, economic events Ec...

ECON 202 Final Exam 2023 All Questions and Answers (CSU) As a student representative, one of your roles is to organize a secondhand textbook market between the current and former first-year students. After a survey, you estimate the demand and supply curves to be the ones shown in Figures 8.1 and 8.2. For example, you estimate that pricing the book at $7 would lead to a supply of 20 books and a demand of 26 books. Which of the following statements is correct?

Chapter 13 Macro HW, ECO CH16, Economics Chap 14, Macroeconomics Ch. 15, 16 & 17, Macro Exam 2 (HW 5), ECON 202, ECON chapter 7, Chapter 13-17 Quiz macro, Practice Final Econ, Macro Exam 2 (HW 7), Econ Test 2, Macro Midterm, Macroeconomics Exam 1, All 1,610 Questions Correctly Answered 2023 Review.

Chapter 13 Macro HW, ECO CH16, Economics Chap 14, Macroeconomics Ch. 15, 16 & 17, Macro Exam 2 (HW 5), ECON 202, ECON chapter 7, Chapter 13-17 Quiz macro, Practice Final Econ, Macro Exam 2 (HW 7), Econ Test 2, Macro Midterm, Macroeconomics Exam 1, All 1,610 Questions Correctly Answered 2023 Review.

A normal good is a good for which Correct Answer-demand increases when income increases. Which of the following is NOT one of the factors that influences the supply of a product? Correct Answer-income Which of the following is a microeconomic topic? Correct Answer-the reasons why Kathy buys less orange juice When supply decreases and demand does not change, the equilibrium quantity Correct Answer-decreases and the price rises If two variables are positively related Correct Answer-the...

Final Exam Econ 101 2023 What behavior does the phenomenon known as comparative advantage encourage? specialization in production The government has been trying to encourage the use of fuel-efficient cars. One way it does this is by allowing fuel-efficient cars to use a separate highway lane. This separate lane encourages people to use fuel-efficient cars because those who place a high value on their scarce time may be encouraged to buy a fuel-efficient car to take advantage of the sep...

A normal good is a good for which Ans: demand increases when income increases. Which of the following is NOT one of the factors that influences the supply of a product? Ans: income Which of the following is a microeconomic topic? Ans: the reasons why Kathy buys less orange juice When supply decreases and demand does not change, the equilibrium quantity Ans: decreases and the price rises If two variables are positively related Ans: they move in the same direction over time When the dema...