ECON 102 Study guides, Class notes & Summaries

Econ 102 finals SFSU Questions with Correct Answers The rate at which the fed lends money to banks is - Answer-The discount rate When the U.S. real interest rate falls, purchasing U.S. assets becomes - Answer-Less attractive and so U.S. net capital outflow rises which of the following are costs incurred by people trying to protect themselves from the effects of inflation? - Answer-Menu costs and shoeleather costs As the price level decreases, the value of money - Answer-increases,...

Econ 102 finals SFSU Questions with Correct Answers The rate at which the fed lends money to banks is - Answer-The discount rate When the U.S. real interest rate falls, purchasing U.S. assets becomes - Answer-Less attractive and so U.S. net capital outflow rises which of the following are costs incurred by people trying to protect themselves from the effects of inflation? - Answer-Menu costs and shoeleather costs As the price level decreases, the value of money - Answer-increase...

Econ 102 Exam 1 WSU Latest 2023 Graded A opportunity cost sacrifice the value of the output the person would have contributed to the civilian economy. The value of the sacrificed alternative is called the opportunity cost of an activity. Resources 1. Land includes natural resources, such as mineral deposits, oil, natural gas, water, and actual land acreage. 2. Labor is the effort of workers. 3. Physical capital is manufactured items used to produce other goods and services. 4. Human capital...

Econ 102 Midterm 1 Questions and Answers Rated A+ which of the following best describes scarce resources? resources for which the quantity demanded exceeds the quantity that is freely available economics is primarily the study of ____________ how agents choose to allocate scarce resources and how these choices affect society which of the following is an example of a positive economic statement? higher interest rates will encourage more savings ________ is the study of how individuals, househo...

Econ 102 - Test 1 Questions and Answers Graded A What does economic activity revolve around? Production What drives economic activity? Spending Per Capita GDP Gross Domestic Product/Population Gross Domestic Product/Population is the same thing as Production/Population GDP shows what? Productivity, income, and/or standard of living Expenditures = Income Production = Income The study of how society chooses to allocate its scare production resources Economics Labor Mental and physical skil...

ECON 102 Exam 1 Latest Update 100% Pass Economic Analysis People making decisions economic wat of thinking Choices: Costs and Benefits Performing a certain economic action will increase our well-being if the benefits are greater than the costs (choices are the result of scarcity) Self Interest The pursuit of one's own goals (does not always mean increasing one's wealth; could also include prestige, friendship, love, and feeling good) Rationality Assumption The assumption that people do not ...

Econ 102 finals SFSU Questions with Correct Answers The rate at which the fed lends money to banks is - Answer-The discount rate When the U.S. real interest rate falls, purchasing U.S. assets becomes - Answer-Less attractive and so U.S. net capital outflow rises which of the following are costs incurred by people trying to protect themselves from the effects of inflation? - Answer-Menu costs and shoeleather costs As the price level decreases, the value of money - Answer-increases, so ...

ECON102 Quiz 2 Questions and Answers 2023 with complete solution