TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
ECON 100 Semester Exam Questions
and Answers | 100% Pass
Rapid population growth, widespread poverty and malnutrition, and a large share of
employment in agriculture are sources of what? - Answer✔️✔️-Sources of "drag"
weighing on the prospects of economic growth in developing countries.
Economic studies what? - Answer✔️✔️-How people make choices to achieve goals with
resource constraints.
Aspects of economic superiority in the U.S. ("American exceptionalism") do not include
what? - Answer✔️✔️-Life expectancy at birth, health outcomes and educational outcomes
are better in the U.S. than in almost any other nation.
What does the "invisible hand" mean? - Answer✔️✔️-The division of labor and exchange
occur naturally among people without being directed by anyone.
Human capital is a list of what? - Answer✔️✔️-Attributes embodied in a person which
may have value in the marketplace
Foregoing the most valuable option not taken is a(n) what? - Answer✔️✔️-An opportunity
cost
Raising Gross National Income per capita and Gross Domestic Product per capita do
not assure what? - Answer✔️✔️-That everyone in the country has a higher level of living.
1/11
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Adam Smith in The Wealth of Nations described what? - Answer✔️✔️-How free people
automatically organize themselves to push back barriers of resource constraints.
What is the root of exchange behavior? - Answer✔️✔️-The natural human tendency
toward division of labor to gain efficiency.
What does insurance allow? - Answer✔️✔️-Insurace allows a person to pay back a small
amount, along with many others, to protect against costly results of low-probability
events.
What are production and exchange about? - Answer✔️✔️-About satisfying goals while
loosening constraints.
What does the proportion of population involved in agriculture reflect? - Answer✔️✔️-It
reflects the level of economic development in a country, because a declining proportion
of population involved in agriculture means agricultural productivity has increased
sufficiently so people can be released from food production to produce other high value
products in a more diverse economy.
Contributing to charities to assure everyone in one's community has access to food,
housing, and health care can be consistent with what principle? - Answer✔️✔️-The
principles of self-interest.
Companies which sell stock are not what? - Answer✔️✔️-Are not "sellers" in the capital
market.
2/11
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
ECON 100 Semester Exam Questions
and Answers | 100% Pass
Rapid population growth, widespread poverty and malnutrition, and a large share of
employment in agriculture are sources of what? - Answer✔️✔️-Sources of "drag"
weighing on the prospects of economic growth in developing countries.
Economic studies what? - Answer✔️✔️-How people make choices to achieve goals with
resource constraints.
Aspects of economic superiority in the U.S. ("American exceptionalism") do not include
what? - Answer✔️✔️-Life expectancy at birth, health outcomes and educational outcomes
are better in the U.S. than in almost any other nation.
What does the "invisible hand" mean? - Answer✔️✔️-The division of labor and exchange
occur naturally among people without being directed by anyone.
Human capital is a list of what? - Answer✔️✔️-Attributes embodied in a person which
may have value in the marketplace
Foregoing the most valuable option not taken is a(n) what? - Answer✔️✔️-An opportunity
cost
Raising Gross National Income per capita and Gross Domestic Product per capita do
not assure what? - Answer✔️✔️-That everyone in the country has a higher level of living.
1/11
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Adam Smith in The Wealth of Nations described what? - Answer✔️✔️-How free people
automatically organize themselves to push back barriers of resource constraints.
What is the root of exchange behavior? - Answer✔️✔️-The natural human tendency
toward division of labor to gain efficiency.
What does insurance allow? - Answer✔️✔️-Insurace allows a person to pay back a small
amount, along with many others, to protect against costly results of low-probability
events.
What are production and exchange about? - Answer✔️✔️-About satisfying goals while
loosening constraints.
What does the proportion of population involved in agriculture reflect? - Answer✔️✔️-It
reflects the level of economic development in a country, because a declining proportion
of population involved in agriculture means agricultural productivity has increased
sufficiently so people can be released from food production to produce other high value
products in a more diverse economy.
Contributing to charities to assure everyone in one's community has access to food,
housing, and health care can be consistent with what principle? - Answer✔️✔️-The
principles of self-interest.
Companies which sell stock are not what? - Answer✔️✔️-Are not "sellers" in the capital
market.
2/11
