ECON 211 Final Exam | ASU Econ 211 Final Exam |
ECN 211 Exam | Actual Exam Questions with
Correct Answers | Graded A+ | Verified Answers |
Just Released
Save
As price increases, True
additional suppliers are
willing to produce a
commodity.
True
False
Economists use the term True
capitol to describe that
factor of production that
includes human-made
resources such as
factories, buildings,
machinery and tools.
True
False
Any point on or outside False
the PPF is attainable.
True
False
,Economic efficiency and True
income equality are often
conflicting goals in an
economy.
True
False
The corporate income tax False
is the single largest source
of revenue for the federal
government.
True
False
Only a market economy False
must answer the questions
of what goods to
produce, how to produce
them, and for who, to
produce them.
True
False
An optimal decision is one True
that chooses the most
desirable from among all
possibilities that are
available.
True
False
,The factors of production False
include all goods and
services produced in an
economy.
True
False
A demand curve shows True
the relationship between
price and quantity
demanded only so long as
all other things are held
constant.
True
False
A recession is a period of True
time in which real GDP
falls.
True
False
Externalities affect only False
the buyer and seller
involved in an exchange.
True
False
Market economies are not False
constrained by scarcity;
only planned economies
have that problem.
True
False
, When price is above the True
equilibrium level, suppliers
offer more than
demanders wish to buy.
True
False
An open economy is one True
in which exports and
imports constitute a large
share of GDP.
True
False
The federal government True
receives most of its
revenue from personal
income taxes and payroll
taxes.
True
False
In terms of efficiency, any True
point on a production
possibilities frontier is as
good another.
True
False
A change in the income of True
buyers will normally
change demand.
True
False
ECN 211 Exam | Actual Exam Questions with
Correct Answers | Graded A+ | Verified Answers |
Just Released
Save
As price increases, True
additional suppliers are
willing to produce a
commodity.
True
False
Economists use the term True
capitol to describe that
factor of production that
includes human-made
resources such as
factories, buildings,
machinery and tools.
True
False
Any point on or outside False
the PPF is attainable.
True
False
,Economic efficiency and True
income equality are often
conflicting goals in an
economy.
True
False
The corporate income tax False
is the single largest source
of revenue for the federal
government.
True
False
Only a market economy False
must answer the questions
of what goods to
produce, how to produce
them, and for who, to
produce them.
True
False
An optimal decision is one True
that chooses the most
desirable from among all
possibilities that are
available.
True
False
,The factors of production False
include all goods and
services produced in an
economy.
True
False
A demand curve shows True
the relationship between
price and quantity
demanded only so long as
all other things are held
constant.
True
False
A recession is a period of True
time in which real GDP
falls.
True
False
Externalities affect only False
the buyer and seller
involved in an exchange.
True
False
Market economies are not False
constrained by scarcity;
only planned economies
have that problem.
True
False
, When price is above the True
equilibrium level, suppliers
offer more than
demanders wish to buy.
True
False
An open economy is one True
in which exports and
imports constitute a large
share of GDP.
True
False
The federal government True
receives most of its
revenue from personal
income taxes and payroll
taxes.
True
False
In terms of efficiency, any True
point on a production
possibilities frontier is as
good another.
True
False
A change in the income of True
buyers will normally
change demand.
True
False
