Econ1002 Study guides, Class notes & Summaries
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS
- Exam (elaborations) • 20 pages • 2024
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REVISED ECONOMIC 1002 EXAM QUESTIONS AND ANSWERS 
What are the broad issues that macroeconomists study and the types of data they use and interpret? - CORRECT ANSWER -Macroeconomists study the performance of the national economy as well as the policies used to improve that performance as well as the aggregate impact of individual decisions. They study changes in economic output (GDP), inflation (CPI), interest and foreign exchange rates, and the balance of payments. Poverty reduction, social e...
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EXAMINED ECONOMIC 1002 FINAL EXAM
- Exam (elaborations) • 12 pages • 2024
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EXAMINED ECONOMIC 1002 FINAL EXAM 
The law of demand states that: - CORRECT ANSWER -The lower the price, the greater the quantity demanded. 
 
Which of the following is TRUE about demand curves? 
A. Demand curves are negatively sloped. 
B. Demand curves reflect the law of demand. 
C.Demand curves are plots of quantities demanded at various prices. - CORRECT ANSWER -All of the answers are correct. 
 
(Figure: Willingness to Pay) Refer to the figure. What is the maximum amount that buyer...
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Macroeconomics summary notes
- Summary • 10 pages • 2024
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The notes explain important economic measures like GDP, and how government policies can influence inflation and unemployment. There's good information on international trade as well. Throughout the summary, there are helpful examples and practice problems to reinforce the key concepts. This comprehensive yet approachable study material should give you the knowledge and confidence you need to perform well on your exams. The clear organization and concise explanations make the content very access...
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ECON1002 Introductory Macroeconomics HD Notes
- Class notes • 73 pages • 2021
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Notes cover content for entire semester 
 
Topics covered: 
* Introduction to macroeconomics 
* Measuring macroeconomic performance: output, the price level, savings, investment and wealth, wages, employment and the labour market 
* An introduction to short-term economic fluctuations 
* Macroeconomics in the short-run: the basic Keynesian model 
* Fiscal policy 
* Money, prices and the Reserve Bank, monetary policy and the economy 
* Aggregate demand and aggregate supply 
* Macroeconomic policy ...
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Chapter 10-14 Textbook notes for midterm 1
- Summary • 20 pages • 2024
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This document has concise textbook notes that I wrote in preparation for the first midterm. It covers Chapters 10-14 and was really useful in studying for the midterm. I got an A on this exam. Everything you need to prepare is in this document.
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ECON 1002: Microeconomics Exam 2_Latest Spring 2020 Complete A+ Solutions
- Exam (elaborations) • 15 pages • 2023
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ECON1002: Microeconomics Exam2 1. If many people in a community install fire hydrants, the whole community benefits including those that did not install it. Therefore, not enough people may decide to install the fire hydrant. This is one illustration of: A. The market allocating resources efficiently B. Monopoly power due to lack of competition C. Supply-side market failure D. Demand-side market failure 2. When a private firm provides fireworks, it could not produce the efficient amount of it be...
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ECON 1002: Microeconomics Exam 2_Latest Spring 2020 Complete A+ Solutions
- Exam (elaborations) • 15 pages • 2020
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ECON1002: Microeconomics Exam2
 

1.	If many people in a community install fire hydrants, the whole community benefits including those that did not install it. Therefore, not enough people may decide to install the fire hydrant. This is one illustration of: 
A. The market allocating resources efficiently
B. Monopoly power due to lack of competition
C. Supply-side market failure
D. Demand-side market failure
 
2.	When a private firm provides fireworks, it could not produce the efficient amount of...
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ECON 1002 WEEK 5 QUIZ – Question and Answers (Correct Answers).
- Exam (elaborations) • 3 pages • 2021
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The quiz outlines key principles of macroeconomics within the context of an open economy and provides a framework for understanding.
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ECON 1002: Microeconomics Exam 2_Latest Spring 2021/22 Complete A+ Solutions
- Exam (elaborations) • 15 pages • 2022
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ECON1002: Microeconomics 
Instructor: Qingbin Wang 
Exam2 
Instruction: You have 115 minutes to finish the quiz. Please choose the most appropriate answer to 
each question and mark it in the Scantron answer sheet. Any answer in the problem set will NOT be 
graded. 
1. If many people in a community install fire hydrants, the whole community benefits including those 
that did not install it. Therefore, not enough people may decide to install the fire hydrant. This is 
one illustration of: 
A. The...
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econ1002-hd-in-depth-notes
- Class notes • 28 pages • 2021
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econ1002-hd-in-depth-notes
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