ECON Study guides, Class notes & Summaries

ECON 1040 CH 12 QUESTION AND CORRECT ANSWER . 1. Suppose an economy produces only ice cream cones. If the price level rises, the value of currency a. rises, because one unit of currency buys more ice cream cones. b. rises, because one unit of currency buys fewer ice cream cones. c. falls, because one unit of currency buys more ice cream cones. d. falls, because one unit of currency buys fewer ice cream cones. - ANSWER 1. ANSWER: D 2. If P denotes the price of goods and services ...

Econ 112 CORRECT ANSWER 100% 2023//2024 The short run is a period of time in which... a) The amount of output is fixed. b) Nothing the firm does can be altered. c) Prices and wages are fixed. d) The quantities of some resources the firm uses are fixed. - ANSWER D The Short Run is a period of time in which? a) Nothing the firm does can be altered b) The quantities of some resources the firm uses are fixed c) Prices and wages are fixed d) the amount of output is fixed - ANSWER B Th...

Econ 101: Exam 2 When the price goes down, the quantity demanded goes up. The price elasticity of demand measures: A) how much the price goes down. B) how much the equilibrium price goes up. C) the responsiveness of the price change to an income change. D) the responsiveness of the quantity change to the price change. - ANSWER D The price of gasoline rises 5% and the quantity of gasoline purchased falls 1%. The price elasticity of demand is equal to _____, and demand is described as ____...

ECON 101: Chapter 14 QUESTION AND CORRECT ANSWER 2023//2024 A 1) Which of the following is NOT a characteristic of the market structure for monopolistic competition? A) Firms are price takers. B) There are a large number of firms. C) Firms are free to enter and exit. D) Firms compete on product quality, price, and marketing. C 2) Brand names are an example of A) economies of scale. B) illegal barriers to entry. C) product differentiation. D) oligopoly. C 3) Monopolistic comp...

Econ week 12 QUICK PASS 2023//2024 When the central bank decides it will sell bonds using open market operations - ANSWER the money supply decreases When the central bank decides to increase the discount rate, the interest rates - ANSWER increase Atlantic Bank is required to hold 10% of deposits as reserves. if the central bank increases the discount rate, how would atlantic bank respond? - ANSWER by increasing its reserves _____ will often cause monetary policy to be considered c...

ECON FINAL KIRBY KSU (2024) QUESTIONS & ANSWERS ALREADY PASSED!!

ECON REVIEW CH. 9-10 (RISK AVERSION-->)/12 QUESTIONS AND ANSWERS

ECON Exam 3 Questions With 100% Correct Answers Which of the following is true regarding the circular flow model? - answerHouseholds provide the supply for the factor market and business provides the supply for the goods and service market Which of the following is true? - answerncome flows from firms to households in the factor markets. The factor market is where: - answerHouseholds provide resources to businesses Households receive income from government by: - answerReceiving transfer ...

ECON Exam 3 Questions With 100% Correct Answers Which of the following is true regarding the circular flow model? - answerHouseholds provide the supply for the factor market and business provides the supply for the goods and service market Which of the following is true? - answerncome flows from firms to households in the factor markets. The factor market is where: - answerHouseholds provide resources to businesses Households receive income from government by: - answerReceiving transfer ...

econ exam/50 Answered Questions/A+ Graded