Econ101 - Study guides, Class notes & Summaries

Saylor Academy ECON101: Direct Credit Test Questions and Answers

ECON101 Exam Questions With Accurate Answers. When the supply of a product decreases - answerthe equilibrium price will increase and equilibrium quantity will decrease -This is shown as a leftward shift of supply. When the supply of a product increases - answerthe equilibrium price will decrease and equilibrium quantity will increase. -This is shown as a rightward shift of supply When demand increases at the same time that supply decreases - answerthe equilibrium quantity falls but the ...

Saylor Academy ECON101: Direct Credit Exam Questions and Answers Saylor Academy ECON101: Direct Credit Exam Questions and Answers

ECON101 Module 8 (Exam 3) Exam Study Guide. Introduction to aggregate expenditures - answerThe aggregate expenditures model proposes that total spending (aggregate expenditures) in an economy will, in equilibrium, be equal to total output. In this model, aggregate expenditures are classified into four different categories, which are identified by who is buying the output: consumption by households, investment by firms, government purchases, and net exports. If any of these types of spendin...

ECON101 MH V4 Graded Exam 2 ECON101 MH V4 Graded Exam 2 ECON101 MH V4 Graded Exam 2

When the supply of a product decreasesthe equilibrium price will increase and equilibrium quantity will decrease -This is shown as a leftward shift of supply. When the supply of a product increasesthe equilibrium price will decrease and equilibrium quantity will increase. -This is shown as a rightward shift of supply When demand increases at the same time that supply decreasesthe equilibrium quantity falls but the change in equilibrium price is ambiguous the equilibrium quantity falls...

Saylor Academy ECON101 Direct Credit Exam Questions and Answers

Saylor Academy ECON101: Direct Credit Questions and Answers What does the term "capital" refer to in economics? The equipment, and buildings used by firms According to the production possibility frontier below, the economy of this country can produce 50 boats and 25 cars (point Z). For strategic reasons the government would like to produce 45 boats and 35 cars (point Y). What advice would you give to the government of this country? IMAGE It is an impossible goal because there are...

Econ101 Chapter 15 Exam Questions With Accurate Answers. Compared to a monopolistic competitor, a monopolist faces A. a demand curve that has a price elasticity coefficient of zero. B. a more inelastic demand curve C. a more elastic demand curve. D. a more elastic demand curve at higher prices and a more inelastic demand curve at lower prices. - answerB. A more inelastic demand curve Which of following is the best example of a monopoly if we use a broader definition of monopoly? A....

New, exam (elaborations) ECON101 Final Exam, Week 8, Questions with CORRECTED answers.