Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
1. If you've purchased an all you can eat ticket to a clam c. the value of that plateful
roast for $25, good economic thinking would tell you to you is greater than zero.
to take one last plateful if
a. the value of that plateful to you is greater than $25
b. the value of that plateful to you is greater than or
equal to $1 and you've already taken 24 platefuls that
you value at $1 each.
c. the value of that plateful to you is greater than zero.
d. none of the above
2. If you decide to go to a movie this evening rather than d. at the margin, you value
study economics, you thereby demonstrate that two hours of movie watch-
ing more than two hours
a. you don't care about getting good grades of studying economics
b. you hate economics
c. you would rather have fun than fulfill your respon-
sibilities
d. at the margin, you value two hours of movie watch-
ing more than two hours of studying economics
e. none of the above.
3. The costs that influence decisions are always b. marginal costs
a. average costs.
b. marginal costs
c. sunk costs.
d. total costs.
4. If you pay $400 for a season pool pass at a private club, e. zero
the marginal cost to you of swimming on any given
weekday will be
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
a. $400.
b. $10 if you swim 40 times.
c. $20 if the swim season lasts twenty weeks.
d. $3 if the swim season lasts twenty-one weeks and
there are seven days in a week
e. zero
5. You want to purchase two pizzas. The price is $8 per d. $5.
pizza, 2 for $15, 3 for $20. What will be the marginal
cost to you of buying a third pizza?
a. $20.
b. $12.
c. $7.
d. $5.
e. zero, if you don't plan to eat the third pizza (it be-
comes a sunk cost
6. I am considering joining a "shopper's club", where I c. only join if I expect to
pay $100 membership fee and then get a twenty-five get at least $100 worth of
percent discount on all my purchases. In making my discounts
decision, I should
a. only join if I plan to make at least $100 of purchases
b. ignore the membership fee since it is a sunk cost
c. only join if I expect to get at least $100 worth of
discounts
d. only join if they promise to refund my membership
fee if I'm not satisfied
7. If Clemson raises the price of on-campus parking, you c. an increase in the
would expect to see demand for ott-campus
parking
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
a. a decrease in the demand for on-campus parking
b. an decrease in the supply of on-campus parking
c. an increase in the demand for off-campus parking
d. all of the above
8. Which of the following is true of the statement "All d. all of the above
pollution must be stopped"?
a. It ignores the importance of comparing marginal
benefits and marginal costs
b. It does not consider that we may have too much
pollution control
c. It ignores the fact that to get more of anything, we
must give up something else
d. all of the above
9. If you buy a motorcycle for $1000 and then discover c. sell the motorcycle for
that you hate riding it and will never ride it again, the the best otter you can get
best thing to do is
a. keep the motorcycle because you've paid so much
for it
b. keep the motorcycle unless you can find someone
who will pay you at least $1000 for it
c. sell the motorcycle for the best offer you can get
d. sell the motorcycle for the best offer you can get, as
long as it covers most of what you paid for it
10. Which of the following is not an assumption of the e. All are assumptions of
economic model? the economic model.
a. People respond to incentives.
b. Goods are scarce.
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
c. People make decisions by comparing marginal ben-
efits and marginal costs.
d. The only costs that matter are opportunity costs.
e. All are assumptions of the economic model.
11. If you are searching for a new pair of skis, it makes b. the shopping time mat-
sense to keep looking as long as ters less to you than the
lower price you expect to
a. you haven't found the lowest price available. get.
b. the shopping time matters less to you than the
lower price you expect to get.
c. there are stores left that you haven't checked.
d. you face no opportunity costs at all.
e. All of the above.
12. If Switzerland can make 35 pounds of chocolate or 5 e. None of the above.
watches while Albania can make 6 pounds of choco-
late or 1 watch
a. no trade will be profitable for Switzerland.
b. no trade will be profitable for Albania.
c. Albania has higher opportunity costs than Switzer-
land.
d. Switzerland has higher opportunity costs than Alba-
nia.
e. None of the above.
13. If Switzerland can make 35 pounds of chocolate or 5 c. Switzerland has the
watches while Albania can make 6 pounds of choco- comparative advantage in
late or 1 watch, who has the comparative advantage? chocolate; Albania in
a. watches.
Switzerland has the comparative advantage in both
chocolate and watches.
Practice Questions and Answers
1. If you've purchased an all you can eat ticket to a clam c. the value of that plateful
roast for $25, good economic thinking would tell you to you is greater than zero.
to take one last plateful if
a. the value of that plateful to you is greater than $25
b. the value of that plateful to you is greater than or
equal to $1 and you've already taken 24 platefuls that
you value at $1 each.
c. the value of that plateful to you is greater than zero.
d. none of the above
2. If you decide to go to a movie this evening rather than d. at the margin, you value
study economics, you thereby demonstrate that two hours of movie watch-
ing more than two hours
a. you don't care about getting good grades of studying economics
b. you hate economics
c. you would rather have fun than fulfill your respon-
sibilities
d. at the margin, you value two hours of movie watch-
ing more than two hours of studying economics
e. none of the above.
3. The costs that influence decisions are always b. marginal costs
a. average costs.
b. marginal costs
c. sunk costs.
d. total costs.
4. If you pay $400 for a season pool pass at a private club, e. zero
the marginal cost to you of swimming on any given
weekday will be
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
a. $400.
b. $10 if you swim 40 times.
c. $20 if the swim season lasts twenty weeks.
d. $3 if the swim season lasts twenty-one weeks and
there are seven days in a week
e. zero
5. You want to purchase two pizzas. The price is $8 per d. $5.
pizza, 2 for $15, 3 for $20. What will be the marginal
cost to you of buying a third pizza?
a. $20.
b. $12.
c. $7.
d. $5.
e. zero, if you don't plan to eat the third pizza (it be-
comes a sunk cost
6. I am considering joining a "shopper's club", where I c. only join if I expect to
pay $100 membership fee and then get a twenty-five get at least $100 worth of
percent discount on all my purchases. In making my discounts
decision, I should
a. only join if I plan to make at least $100 of purchases
b. ignore the membership fee since it is a sunk cost
c. only join if I expect to get at least $100 worth of
discounts
d. only join if they promise to refund my membership
fee if I'm not satisfied
7. If Clemson raises the price of on-campus parking, you c. an increase in the
would expect to see demand for ott-campus
parking
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
a. a decrease in the demand for on-campus parking
b. an decrease in the supply of on-campus parking
c. an increase in the demand for off-campus parking
d. all of the above
8. Which of the following is true of the statement "All d. all of the above
pollution must be stopped"?
a. It ignores the importance of comparing marginal
benefits and marginal costs
b. It does not consider that we may have too much
pollution control
c. It ignores the fact that to get more of anything, we
must give up something else
d. all of the above
9. If you buy a motorcycle for $1000 and then discover c. sell the motorcycle for
that you hate riding it and will never ride it again, the the best otter you can get
best thing to do is
a. keep the motorcycle because you've paid so much
for it
b. keep the motorcycle unless you can find someone
who will pay you at least $1000 for it
c. sell the motorcycle for the best offer you can get
d. sell the motorcycle for the best offer you can get, as
long as it covers most of what you paid for it
10. Which of the following is not an assumption of the e. All are assumptions of
economic model? the economic model.
a. People respond to incentives.
b. Goods are scarce.
, Clemson ECON 2110 Exam Review 2026
Practice Questions and Answers
c. People make decisions by comparing marginal ben-
efits and marginal costs.
d. The only costs that matter are opportunity costs.
e. All are assumptions of the economic model.
11. If you are searching for a new pair of skis, it makes b. the shopping time mat-
sense to keep looking as long as ters less to you than the
lower price you expect to
a. you haven't found the lowest price available. get.
b. the shopping time matters less to you than the
lower price you expect to get.
c. there are stores left that you haven't checked.
d. you face no opportunity costs at all.
e. All of the above.
12. If Switzerland can make 35 pounds of chocolate or 5 e. None of the above.
watches while Albania can make 6 pounds of choco-
late or 1 watch
a. no trade will be profitable for Switzerland.
b. no trade will be profitable for Albania.
c. Albania has higher opportunity costs than Switzer-
land.
d. Switzerland has higher opportunity costs than Alba-
nia.
e. None of the above.
13. If Switzerland can make 35 pounds of chocolate or 5 c. Switzerland has the
watches while Albania can make 6 pounds of choco- comparative advantage in
late or 1 watch, who has the comparative advantage? chocolate; Albania in
a. watches.
Switzerland has the comparative advantage in both
chocolate and watches.
