Final exam econ Study guides, Class notes & Summaries

ECON 528 Final Exam (University of louisiana/ECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final Exam (University of louisianaECON 528 Final ...

Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!! Nominal GDP -Answer-the value of final goods and services evaluated at current-year prices How to calculate nominal GDP -Answer-C + I + G +NX Real GDP -Answer-The value of final goods and services evaluated at base-year prices How to calculate real GDP -Answer-P*Q for every good in GDP and add them all together BASE YEAR 2014 - 100M visits at $50 each 2015 - 103M visits at $53 10M cars at $20,000 each 11M cars at $20,500...

Econ B 251 Final Exam | Questions and answers | 2024/25 | Rated A+

Final Exam Econ 101 2023 What behavior does the phenomenon known as comparative advantage encourage? specialization in production The government has been trying to encourage the use of fuel-efficient cars. One way it does this is by allowing fuel-efficient cars to use a separate highway lane. This separate lane encourages people to use fuel-efficient cars because those who place a high value on their scarce time may be encouraged to buy a fuel-efficient car to take advantage of the sep...

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...

Final Exam Econ 101 2023 What behavior does the phenomenon known as comparative advantage encourage? specialization in production The government has been trying to encourage the use of fuel-efficient cars. One way it does this is by allowing fuel-efficient cars to use a separate highway lane. This separate lane encourages people to use fuel-efficient cars because those who place a high value on their scarce time may be encouraged to buy a fuel-efficient car to take advantage of the sep...

A monopolistically competitive market is characterized by a. a single seller of a unique product that has few or no substitutes. b. very high barriers to entry. c. many small sellers selling a differentiated product. d. a few firms producing either differentiated or identical products correct answers c. many small sellers selling a differentiated product. Which of the following is the best example of a monopolistically competitive market? a. retail clothing stores b. corn c. el...

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

Adverse Selection correct answers the problem of incomplete information - of choosing alternatives without fully knowing the details of available options Moral Hazard correct answers When the act of insuring an event increases the likelihood that the event will happen price elasticity of demand correct answers a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage...