Econ102 - Study guides, Class notes & Summaries

ECON102 Quiz (With Answers). 1) Suppose that the real return on assets is 4% forever. Approximately what is it worth to have a gift from your grandparents when you are young that pays $2000 a year until you die: a. About $2,000 b. About $5,000; c. About $120,000 if you expect to live for another 60 years; d. About $20,000 e. About $8,000 f. About $50,000 Solution: The present value of the sum of all money to be received in the future on this “perpetuity” is given by $2,0...

ECON102 Answered Questions. Econ 102 Answered Questions Question 1 of 10 10.0/ 10.0 Points Technological progress occurs when the economy gets more output A. without any more capital or labor. B. by using more capital per worker. C. by using more capital but not more workers. D. by using more labor but not more capital. Answer Key: A Question 2 of 10 10.0/ 10.0 Points If a firm increases its use of capital while holding constant the number of workers employed, the firm ...

A clear, detailed, and comprehensive set of notes on how development happens for the course ECON102: Principles of Macroeconomics, including ultimate causation of prosperity, institutions, economic development, creative destruction.

Question 1 of 10 10.0/ 10.0 Points Business cycles are A. movements in stock prices. B. the transfer of executives between firms. C. used to describe fluctuations in GDP. D. a description of the time required to bring a new product to market. Answer Key: C Question 2 of 10 0.0/ 10.0 Points Economists define the unemployed as individuals who are A. not currently working. B. not currently working but are actively looking for work. C. working but looking for a differ...

A clear, detailed, and comprehensive set of notes on unemployment for the course ECON102: Principles of Macroeconomics, including potential workers, employer, unemployed, labor force, labor force participation, problems, labor market as a whole, demand for labor, supply for labor, market cleaning wage, types of unemployment, voluntary unemployment, frictional unemployment, structural unemployment.

Question 1 of 10 10.0/ 10.0 Points Economics is best defined as the study of A. financial decision-making B. how consumers make purchasing decisions. C. choices made by people faced with scarcity. D. inflation, unemployment, and economic growth Answer Key: C Question 2 of 10 10.0/ 10.0 Points Macroeconomics differs from microeconomics in that A. macroeconomics is the study of individual markets, while microeconomics deals with the nation's economy as a whole. B. microeconomic...

Question 1 of 10 10.0/ 10.0 Points Business cycles are A. movements in stock prices. B. the transfer of executives between firms. C. used to describe fluctuations in GDP. D. a description of the time required to bring a new product to market. Answer Key: C Question 2 of 10 10.0/ 10.0 Points Economists define the unemployed as individuals who are A. not currently working. B. not currently working but are actively looking for work. C. working but looking for a different job. D. working...

A clear, detailed, and comprehensive set of notes on economic growth for the course ECON102: Principles of Macroeconomics, including human capital, physical capital, technology, and technological change.

ECON102 MID TERM EXAM BEST QUESTIONS WITH ANSWERS GRADED A+ 2022 UPDATE

A clear, detailed, and comprehensive set of notes on income for the course ECON102: Principles of Macroeconomics, including GDP per capita, benefits, disadvantages, productivity.