100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
CSU Econ 202 Exam 1 (Units 1-4) Questions with Correct Answers $13.49   Add to cart

Exam (elaborations)

CSU Econ 202 Exam 1 (Units 1-4) Questions with Correct Answers

 8 views  0 purchase
  • Course
  • Economists
  • Institution
  • Economists

What is the graph called that spikes during the industrial revolution? Correct Answer-Hockey Stick Whats an example of a permanent change? Correct Answer-cell phones, computers How do you measure living standard? Correct Answer-GDP/population What is disposable income? Correct Answer-incom...

[Show more]

Preview 2 out of 7  pages

  • August 2, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Economists
  • Economists
avatar-seller
cracker
CSU Econ 202 Exam 1 (Units 1-4) Questions with
Correct Answers
What is the graph called that spikes during the industrial revolution?
Correct Answer-Hockey Stick


Whats an example of a permanent change? Correct Answer-cell phones,
computers


How do you measure living standard? Correct Answer-GDP/population


What is disposable income? Correct Answer-income after taxes and
other expenses


How do you measure growth rate? Correct Answer-change is
GDP/original level of GDP


what's the difference between a conventional and ratio scale graph?
Correct Answer-ratio uses straight lines


a recipe of inputs, materials, machinery, labor for output Correct
Answer-technology


what is capitalism? Correct Answer-an economic system based on
private property, markets, and firms

, in market failures we need the __ to step in Correct Answer-government


way to exchange with mutual benefits, voluntary actions, and
competition Correct Answer-markets


business organization that uses inputs to produce outputs and set prices
to cover production costs Correct Answer-firms


who was the father of economics Correct Answer-Adam Smith


What did Adam Smith believe? Correct Answer-self-interest and no
government or family intervention


something that does not change until an outside force acts on it Correct
Answer-equilibrium


everything is constant Correct Answer-ceteris paribus


drives interaction Correct Answer-incentives


price compared to other products Correct Answer-relative price


benefits received from choice, taking into account the next best
alternative Correct Answer-economic rent

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 cracker. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79650 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart