eco 365 final exam set 1 amp 2 2016 versioneco 365 final exam set 1 amp 2 2016 version
Written for
13F Slc Cde
ECO 365 Final Exam SET-1 & 2 /ECO 365 Final Exam SET-1 & 2 (ECO365FINALEXAMSET12)
All documents for this subject (1)
Seller
Follow
mastersolution
Reviews received
Content preview
ECO 365 Final Exam SET-1 & 2 (2016 Version)
SET-1
1. Which of the following statements is true about a downward-sloping demand curve that is a
straight line?
The slope and the elasticity are the same at all points.
The slope remains the same, but elasticity rises as you move down the demand curve.
The slope remains the same, but elasticity falls as you move down the demand curve.
The slope and the elasticity fall as you move down the demand curve
2. The best example of positive externality is:
roller coaster rides.
pollution.
alcoholic beverages.
education.
3. Suppose that college tuition is higher this year than last and that more students are enrolled in
college this year than last year. Based on this information, we can best conclude that:
despite the increase in price, quantity demanded rose due to some other factors changing.
the demand for a college education is positively sloped.
the law of demand is invalid.
this situation has nothing to do with the law of demand.
4. Suppose foreign shrimp prices drop by 32 percent and importers gain a 90 percent market
share. From this information, what would economists strongly suspect about this industry?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mastersolution. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $25.49. You're not tied to anything after your purchase.