UNR ECON 100 Exam – Questions With Complete
Solutions
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Terms in this set (183)
Why do consumers seek more Cars are a major investment and the benefit to cost ratio
information when purchasing an for information about cars is greater than that for most
automobile than when purchasing other consumer products.
groceries?
Why might consumers want the Food Because information on contents of food is complex yet
and Drug Administration to require food important to health.
labels on food packaging?
What is the value of product and service "Branded" products and services provide information
"branding?" about consistent quality across space and time.
Consumers sometimes make mistakes Information is costly in terms of time and money, so
when making purchases; why does this purchases almost always are made with imperfect
occur? information.
What is insurance? A product which one can purchase to protect against
the full cost of a calamity.
,Often in advertising companies, in order Sexist and racist
to catch people's attention, produce ads
that are:
Much of the information that is To a more mobile online version
collecting by companies points to
advertising moving in which direction?
Which of the following has had a Racial discrimination
disproportionate effect on housing?
Which of the following is true about People sometimes discriminate screening applications
discrepancies for people seeking based on their names.
employment?
Which of the following is NOT true Loan forgiveness is pretty universally accepted.
about student debt?
Farmers represent a very small portion Small groups with intense interests in policy are more
of the population; why are they so effective in getting what they want from government
effective in getting subsidies and import than large groups with less intense interest in protecting
protections which represent costs to themselves.
most citizens?
Information asymmetry happens when: When one party has more information than another.
Which is an example of a moral hazard? When an employee cuts corners on production to save
time.
When students attend a college without Adverse selection
fully understanding the impact of the
institution they choose is an example of
which?
Statistical discrimination happens when: Information such as background checks are prevented
, Which of the following is true about Lack of information may result in higher costs for all.
information regarding health insurance? Not enough information could lead to health insurance
companies pulling out of the market.
Knowing who is likely to get sick helps insurance
companies to know who to insure.
Which of the following are benefits to a Builds a higher-skilled workforce which attracts industry
community from a public investment in to the community.
education? Reduces the cost of public assistance and prisons.
Increases the quality of restaurants, museums, and
libraries.
What is Human Capital? A list of attributes embodied in a person which may have
value in the marketplace.
Why would businesses invest in human Employees consider it a benefit of the job for an
capital of employees, when these employer to make them more valuable in the
investments may make the employee marketplace for labor.
more valuable to other companies? Good health insurance with preventative health and
dental checkups makes employees more reliable with
the potential for fewer sick days off.
Job-relevant training makes employees more productive
(more valuable) within the company.
The Georgia Miracle used all the state's Industrial firms flocked to Georgia in the next decade
lottery earnings to support because of the highly educated workforce available in
development of education from K-12 Georgia.
through higher education. What
happened?
Which of the following is NOT likely an Buying classical music CDs to become cultured.
example of your own personal
investment in human capital?
What is the role of regulatory policy in To maximize economic growth.
an open market economy? To set social norms to guide the results of the market
economy.
How would you characterize the price Price inelastic because if one wants education, they get
elasticity of demand for college it at almost any price as an investment in their future
education? income.
Solutions
Add to calendar
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (183)
Why do consumers seek more Cars are a major investment and the benefit to cost ratio
information when purchasing an for information about cars is greater than that for most
automobile than when purchasing other consumer products.
groceries?
Why might consumers want the Food Because information on contents of food is complex yet
and Drug Administration to require food important to health.
labels on food packaging?
What is the value of product and service "Branded" products and services provide information
"branding?" about consistent quality across space and time.
Consumers sometimes make mistakes Information is costly in terms of time and money, so
when making purchases; why does this purchases almost always are made with imperfect
occur? information.
What is insurance? A product which one can purchase to protect against
the full cost of a calamity.
,Often in advertising companies, in order Sexist and racist
to catch people's attention, produce ads
that are:
Much of the information that is To a more mobile online version
collecting by companies points to
advertising moving in which direction?
Which of the following has had a Racial discrimination
disproportionate effect on housing?
Which of the following is true about People sometimes discriminate screening applications
discrepancies for people seeking based on their names.
employment?
Which of the following is NOT true Loan forgiveness is pretty universally accepted.
about student debt?
Farmers represent a very small portion Small groups with intense interests in policy are more
of the population; why are they so effective in getting what they want from government
effective in getting subsidies and import than large groups with less intense interest in protecting
protections which represent costs to themselves.
most citizens?
Information asymmetry happens when: When one party has more information than another.
Which is an example of a moral hazard? When an employee cuts corners on production to save
time.
When students attend a college without Adverse selection
fully understanding the impact of the
institution they choose is an example of
which?
Statistical discrimination happens when: Information such as background checks are prevented
, Which of the following is true about Lack of information may result in higher costs for all.
information regarding health insurance? Not enough information could lead to health insurance
companies pulling out of the market.
Knowing who is likely to get sick helps insurance
companies to know who to insure.
Which of the following are benefits to a Builds a higher-skilled workforce which attracts industry
community from a public investment in to the community.
education? Reduces the cost of public assistance and prisons.
Increases the quality of restaurants, museums, and
libraries.
What is Human Capital? A list of attributes embodied in a person which may have
value in the marketplace.
Why would businesses invest in human Employees consider it a benefit of the job for an
capital of employees, when these employer to make them more valuable in the
investments may make the employee marketplace for labor.
more valuable to other companies? Good health insurance with preventative health and
dental checkups makes employees more reliable with
the potential for fewer sick days off.
Job-relevant training makes employees more productive
(more valuable) within the company.
The Georgia Miracle used all the state's Industrial firms flocked to Georgia in the next decade
lottery earnings to support because of the highly educated workforce available in
development of education from K-12 Georgia.
through higher education. What
happened?
Which of the following is NOT likely an Buying classical music CDs to become cultured.
example of your own personal
investment in human capital?
What is the role of regulatory policy in To maximize economic growth.
an open market economy? To set social norms to guide the results of the market
economy.
How would you characterize the price Price inelastic because if one wants education, they get
elasticity of demand for college it at almost any price as an investment in their future
education? income.
