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ECON 2030 – OVER 160 2026 UPDATED SAMPLE
TEST QUESTIONS AND ANSWERS ACTUAL EXAM
||Verified Exam!!!100% (ECONOMIS AND ECON
REASONING) Louisiana State University||Newest
Exam!!!
"How have gasoline prices in the United States changed
over the last 12 months is an example of a micro or macro
economic question? - Answers-microeconomic
(because it is only about the gas prices and not the whole
economy)
How have prices for all goods and services in the United
States changed over the last 12 months?" is an example
of a micro or macro economic question? - Answers-
macroeconomic
(because it focuses on the whole economy)
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side.
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Everything else held constant, Remus' benefit of fishing
the east side of the lake is _____ fish. - Answers-3
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side.
Everything else held constant, Remus' opportunity cost of
fishing the east side of the lake is _____ fish. - Answers-7
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side. Suppose
further that Remus chose to fish the east side of the lake.
Was Remus' decision rational? Why or why not? Explain. -
Answers-No, because the benefit of the east side (3 fish)
is not ≥ the opportunity cost (7 fish)
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
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Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is the benefit from getting Laura's book? - Answers-
the expected pleasure gotten from reading After I Was
Dead
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
what is the opportunity cost of getting Laura's book? -
Answers-the expected pleasure gotten from reading The
Meat and Spirit Plan and $4
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
, 4|Page
What is the opportunity cost of getting Selah's book? -
Answers-the expected pleasure of After I was Dead
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is the benefit of getting Selah's book? - Answers-the
expected pleasure gotten from reading The Meat and
Spirit Plan and $4
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is Debi's sunk cost? - Answers-$15
Suppose a store sells pairs of shoes for $30 each and is
running a "buy two pairs, get a third pair for 50% off" sale.
ECON 2030 – OVER 160 2026 UPDATED SAMPLE
TEST QUESTIONS AND ANSWERS ACTUAL EXAM
||Verified Exam!!!100% (ECONOMIS AND ECON
REASONING) Louisiana State University||Newest
Exam!!!
"How have gasoline prices in the United States changed
over the last 12 months is an example of a micro or macro
economic question? - Answers-microeconomic
(because it is only about the gas prices and not the whole
economy)
How have prices for all goods and services in the United
States changed over the last 12 months?" is an example
of a micro or macro economic question? - Answers-
macroeconomic
(because it focuses on the whole economy)
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side.
,2|Page
Everything else held constant, Remus' benefit of fishing
the east side of the lake is _____ fish. - Answers-3
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side.
Everything else held constant, Remus' opportunity cost of
fishing the east side of the lake is _____ fish. - Answers-7
Suppose Remus decides to go fishing at Lake Pescaccio
on his day off from work, but he faces a choice: he can fish
the east, south, or west side of the lake. His expected
catch for the day is as follows: 3 fish on the east side, 7
fish on the south side, or 5 fish on the west side. Suppose
further that Remus chose to fish the east side of the lake.
Was Remus' decision rational? Why or why not? Explain. -
Answers-No, because the benefit of the east side (3 fish)
is not ≥ the opportunity cost (7 fish)
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
,3|Page
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is the benefit from getting Laura's book? - Answers-
the expected pleasure gotten from reading After I Was
Dead
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
what is the opportunity cost of getting Laura's book? -
Answers-the expected pleasure gotten from reading The
Meat and Spirit Plan and $4
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
, 4|Page
What is the opportunity cost of getting Selah's book? -
Answers-the expected pleasure of After I was Dead
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is the benefit of getting Selah's book? - Answers-the
expected pleasure gotten from reading The Meat and
Spirit Plan and $4
Suppose rational reader Debi has decided to purchase
one book to read this weekend and she has narrowed her
choices down to either The Meat and Spirit Plan by Selah
Saterstrom, priced at $15, or After I Was Dead by Laura
Mullen, priced at $19.
What is Debi's sunk cost? - Answers-$15
Suppose a store sells pairs of shoes for $30 each and is
running a "buy two pairs, get a third pair for 50% off" sale.
