Econ 2101 - Study guides, Class notes & Summaries
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ECON 2101 TOP Study Guide Questions and CORRECT Answers
- Exam (elaborations) • 44 pages • 2024
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Economists often treat the economy's capital stock as fixed because 
Select one: 
a. unless the interest rate changes, the capital stock doesn't change. 
b. labour is a more important factor of production than capital, so economists ignore capital. 
c. there is very little capital in the economy compared to the amount of labour. 
d. it takes a long time for new investment and the scrapping of old capital to affect the overall 
quantity of capital.d. it takes a long time for new investment and...
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ECON 2101 UPDATED Questions and CORRECT Answers
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condition for monotonicity transformation -the transformation derivative is positive 
mrs to preference link -if mrs is the same after the transformation then its the same 
preferences 
steps for optimal choice using price and MRS -1. set price equal to MRS 
2. solve for x1 
 into budget constraint and solve for x2 
diminishing marginal product - 
marginal product calculation -derivative of the production function with respect to one 
input
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ECON 2101 Key PASSED Questions and CORRECT Answers
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What is a broad indicatorreal gross domestic income 
an example of a leading indicator isthe stock market 
What will probably rise when the economy is in a recessioninitial unemployment 
claimes 
Suppose the economy is in a recession, you would expect to see the unemployment 
rate:rise above the equilibrium employment rate 
Which economic indicator tells you about the future expected profits of businessesS&P 
500
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ECON 2101 Certification Questions and CORRECT Answers
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macroeconomic policiesGovernment actions designed to affect the performance of the 
economy as a whole 
economic growtha process of steady increases in the quantity and the quality of the 
goods and services the economy can produce 
standard of livingdegree to which people have access to goods and services that make 
their lives easier, healthier, safer, and more enjoyable 
main goal of macroeconomicshow to achieve a higher standard of living 
what is average living standard measured byoutput...
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Econ 2101 Exam 1-4 UNCC Questions and Answers 2023
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Econ 2101 Exam 1-4 UNCC
Too much month left at the end of the money?
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Econ 2101 Exam 1-4 UNCC Questions and Answers 100% Accurate 2023
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Econ 2101 Exam 1-4 UNCC
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Econ 2101 Exam 1 Questions with correct Answers 2023
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Econ 2101 Exam 1
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Econ 2101 Exam 1-4 UNCC Questions and Answers 100% correct
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Econ 2101 Exam 1-4 UNCC
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Econ 2101 Exam 1 Questions and Answers Graded A+
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Econ 2101 Exam 1
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ECON 2101 TOP Study Guide Questions and CORRECT Answers
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Economists often treat the economy's capital stock as fixed because 
Select one: 
a. unless the interest rate changes, the capital stock doesn't change. 
b. labour is a more important factor of production than capital, so economists ignore capital. 
c. there is very little capital in the economy compared to the amount of labour. 
d. it takes a long time for new investment and the scrapping of old capital to affect the overall 
quantity of capital.d. it takes a long time for new investment and...
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