Econ 101 exam 2 - Study guides, Class notes & Summaries

ECON 101 Midterm Exam 2024 Fully Scored 100%;AMU Midterm - Results Attempt 1 of 1 Written Mar 26, 2024 2:10 PM - Mar 26, 2024 2:20 PM Attempt Score 100 / 100 - 100 % Overall Grade (Highest Attempt) 100 / 100 - 100 % Question 1 7 / 7 points Economics is the study of: increasing the level of productive resources so there is maximum output in society. increasing the level of productive resources so there is a minimum level of income. the efficient use of scarce r...

Corporate Finance ECON 101 Exam 2 |Question and Answers| sole proprietorship *Ans* 1 owner, owner receives all the profits, unlimited liab., 2 parts: 1. initial investment and 2. personal wealth. Taxed based on personal income. Transfer of ownership is hard. Must be willing to buy all assets. partnership *Ans* 2 or more owners. profit is based on % invested shared. Unlimited liab. between owners. Tax based on personal income. hard to transfer ownership. limited partnership *Ans* same ...

Econ 101 Final Exam Brent Kreider| with full latest solution What is the difference between a positive and normative statement? - A positive statement is based on facts and a normative statement is an opinion. If I have to drop out of college, it will cost me all of the tuition I have paid and the income I could have earned during those years while I was in college. True or false. - False because income should be considered a sunk cost and therefore not relevant to the question. Tonight I...

WMGT 101 Exam 2 Quiz Questions and answers verified to pass 2024/2025 WMGT 101 Exam 2 Quiz Questions Econ: Who in the Civil Engineer Squadron is responsible for evaluating investment decisions based on life-cycle costs? (That is, who is involved in engineering economics?) - correct answer Everyone with a role in supporting or making investment decisions. Econ: The concept of "Time Value of Money" means what? (absent any spikes in the economy) - correct answer A thousand dolla...

Econ 101: Exam 2 When the price goes down, the quantity demanded goes up. The price elasticity of demand measures: A) how much the price goes down. B) how much the equilibrium price goes up. C) the responsiveness of the price change to an income change. D) the responsiveness of the quantity change to the price change. - ANSWER D The price of gasoline rises 5% and the quantity of gasoline purchased falls 1%. The price elasticity of demand is equal to _____, and demand is described as ____...

Econ 101 Umich Exam 2 Caldwell Questions & Answers 2023/2024 comparative advantage - ANSWER-when one producer can produce a good at a lower opportunity cost than another producer -reason for specialization absolute advantage - ANSWER-when one producer can produce more of a good than another producer in a certain period of time Production Possibility Frontier - ANSWER-represents the possible combinations of goods that an economy can produce in a certain period of time specilaizatio...

Econ 101 Umich Exam 2 Caldwell Questions & Answers 2023/2024 comparative advantage - ANSWER-when one producer can produce a good at a lower opportunity cost than another producer -reason for specialization absolute advantage - ANSWER-when one producer can produce more of a good than another producer in a certain period of time Production Possibility Frontier - ANSWER-represents the possible combinations of goods that an economy can produce in a certain period of time specilaizatio...

Econ 101 final exam study. Multiple choice (ch. 1, 2, 3, 4, 6, 8, 9, 10, 12, 13) Question and answers 2023