Econ 102 Study guides, Class notes & Summaries

Econ 102 notes from Chowdhury Mahmoud's class from 2022-2023, very in depth notes taken from the textbook and lectures.

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 QUIZ Chapter 1-3 Latest 2023. The study of economics is primarily concerned with: keeping private businesses from losing money. demonstrating that capitalistic economies are superior to socialistic economies. choices that are made in seeking the best use of resources. determining the most equitable distribution of society's output. 2. The saying that "there is no free lunch" means that: there are always trade-offs between economic goals. all production involves the use of scar...

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 ...

ECON 102 QUIZ Chapter 1-3 Latest 2023. Which of the following will shift the production possibilities curve to the right? An increase in the unemployment rate from 6 to 8 percent. A decline in the efficiency with which the present labor force is allocated. A decrease in the unemployment rate from 8 to 6 percent. A technological advance that allows farmers to produce more output from given inputs. 9. A market: reflects upsloping demand and downsloping supply curves. entails the exchange of...

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 Midterm Exam Part 1 Answers 2023 (Penn State University) Latest Update 2023 Questions and Answers 100% Correct Highly Recommended Download to Score A Question 1 When an economist talks about scarcity, he or she is referring to Question 2 ________________ is the branch of economics concerned with the behavior of individual decision makers – both households and firms – and the functioning of individual industries Question 3 “Grade inflation is a more important problem ...

Econ 102 quiz 4 Question 1 of 10 10.0/ 10.0 Points The supply of money in the U.S. economy is determined primarily by A. decisions made by the Federal Reserve and the U.S. Treasury. B. the actions of the Federal Reserve and the banking system. C. consumers and the banking system. D. the demand for money in the economy. Answer Key: B Question 2 of 10 10.0/ 10.0 Points One of the essential functions that a bank performs is A. purchasing government bonds. B. creating deposits by...

ECON 102 Quiz 6 Answers (Penn State University)Latest Update 2023 Questions and Answers 100% Correct Highly Recommended Download to Score A Question 1 1 / 1 pts Select the answer below that corresponds to the idea of a derived demand curve. Question 2 0 / 1 pts A profit maximizing firm that has labor as the only variable factor of production has a demand curve that is