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ECON 102 UIUC Exam Test Questions and Answers Rated A
NewWhat's true about scarcity? Both rich and poor face it 
"If the United States enters a war in the Middle East, the 
economy will go into a recession" is an example of a positive statement 
One major assumption of economics is that people act as if they systematically pursue self-interest. 
"Wants" as an economic concept includes both material and nonmaterial desires. 
A theory or a model is a simplified, abstract view of reality 
If real salaries increase but nominal salaries do n...