Econ 100 - Study guides, Class notes & Summaries

ECON 1100 FINAL EXAM REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!

Econ 104, Goffe, PSU 2024 Exam Graded A+ | Verified & Updated GDP -Answer-the market value of all FINAL goods and services produced in a country during a period of time. GDP equation -Answer-GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net exports) Consumption -Answer-expenditures made by households (excluding the purchase of a new house) Investment -Answer-Final goods and services purchased by business firms (equipment for production and new buildings), changes in i...

ECON B-251 Final Exam 2024 with 100% correct answers

Econ 102 Final Exam ISU Questions and Answers 100% Solved Economics ️️a social science that seeks to understand how humans make decisions in the face of scarcity Scarcity ️️One word- Limits factors of production ️️land, labor, capital Division and specialization of labor ️️the process in which workers select specialized tasks to make a product Specialization ️️when workers or firms focus on particular tasks for which they are wellsuited within the overall producti...

_____________ is calculated by taking the quantity of everything that is sold and multiplying it by the sale price. A. Total revenue B. Total profits C. Average profit margin D. Total cost - Answer-A. Total revenue A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve. A. natural monopoly B. monopoly C. oligopoly D. monopolistic competition - Answer-A. natural monopoly A change in which of the f...

PSU Econ 104 Final Exam Questions And Answers 100% Verified If the required reserve ration is 20%, the simple deposit multiplier is _______ A. 2 B. 5 C. 10 D. 20 - answerB. 5 1/.2 = 5 Imagine that Kristy deposits $10,000 of currency into her checking account deposit at Bank A and the reserve ratio is 20%. As a result of Kristy's deposit, Bank A's reserves immediately increase by: A. $2,000 B. $8,000 C. $ 10,000 D. $50,000 - answerC. $10,000 This is how much money she puts in the...

PSU Econ 104 Final Exam |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

PSU Econ 104 Final Exam Questions And Answers 100% Verified If the required reserve ration is 20%, the simple deposit multiplier is _______ A. 2 B. 5 C. 10 D. 20 - answerB. 5 1/.2 = 5 Imagine that Kristy deposits $10,000 of currency into her checking account deposit at Bank A and the reserve ratio is 20%. As a result of Kristy's deposit, Bank A's reserves immediately increase by: A. $2,000 B. $8,000 C. $ 10,000 D. $50,000 - answerC. $10,000 This is how much money she puts in the...

A situation where people have unlimited wants but face limited resources is known as: A. Economic efficiency B. Factors of production C. Macroeconomics D. Scarcity correct answers D. Scarcity The branch of economics that focuses on the study of output, inflation, and unemployment is known as: A. Capital B. Labor C. Macroeconomics D. Microeconomics correct answers C. Macroeconomics Which of the following describes a situation most closely related to microeconomics? A. A busines...

In the year 2010, the richest fifth of the American population earned close to: a. 50% of the total income b. 20% of the total income c. 30% of the total income d. 80% of the total income correct answers 50% of the total income Investors in the London Company (later Virginia Co.) a. earned substantial profits b. earned modest profits c. broke even, with revenues just covering the principal d. earned substantial losses correct answers d. earned substantial losses on their investment ...