ECON

ECON FINAL NOTES

ECON EXAM QUESTIONS & ANSWERS 2023-24 Which of the following is NOT a producer? - ANSWER-An unemployed college student Which of the following is an ethereal added utility to a consumer? - ANSWER-The smell of espresso What is the primary difference between microeconomics and macroeconomics? - ANSWER-Microeconomics looks at scarcity for companies, while macroeconomics looks at it for entire economies. In economics, scarcity means that: - ANSWER-There is a finite amount of resources. ...

ECON test answers 100% correct 2023-24 An economy that contains both perfect and imperfect competition and both regulated and nonregulated industries is known as - ANSWER-mixed economy An economys production possibilities curve could shift outward as a result of an - ANSWER-increased level of technology which one of the following is a charecteristic of capitalism but not of communism? - ANSWER-private property Full employment describes the condition in which - ANSWER-95 to 96 perce...

ECON exam 1 questions & answers 2023-24 What is economics? - ANSWER-the study of how people use their scarce resources to satisfy their unlimited wants Define land, labor, capital, and entrepreneurial ability. Name the payment for each of these resources. - ANSWER-Labor: Physical and mental effort used to produce goods and services. Payment is in wages to resource owners for their labor. Land: all the gifts of nature used to produce goods and services. Renewable and exhaustible. Payme...

Econ Final Exam (Answered) 2023/2024 (T/F) The budgeting process starts with monitoring current spending False (T/F) Most short-term goals are based on activities over the next two or three years False (T/F) A common long-term goal may involve saving for college for parents of a newborn child True (T/F) Rent is considered a fixed expense True (T/F) Flexible expenses stay about the same each month False The final phase of the budgeting process is to: A) set personal and financial go...

ECON Final Economists typically define money as: A. anything in which its value can be inflated. B. a means of payment that lacks intrinsic value. C. currency that is issued by a central bank. D. a widely accepted means of payment. - ANSWERS D Are checking accounts money? A. No, because checking accounts cannot be traded for goods and services. B. Yes, because checking accounts can be used to buy goods and services. C. No, because checking accounts are not physical money. D. Yes,...

Test Bank for The Economics of Money, Banking and Financial Markets, 13e 13th Edition by Frederic Mishkin. ISBN-13: 4353 Full chapters test bank in PDF PART I: INTRODUCTION 1. Why Study Money, Banking, and Financial Markets? 2. An Overview of the Financial System 3. What Is Money? PART II: FINANCIAL MARKETS 4. The Meaning of Interest Rates 5. The Behavior of Interest Rates 6. The Risk and Term Structure of Interest Rates 7. The Stock Market, the Theory of Rational Expectations, a...

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

econ exam questions & answers 2023-24 which statement best explains why countries must make tradeoffs - ANSWER-National production is limited by the availability of scarce natural resources What is the primary incentive for business owners in a market economy - ANSWER-Earning profits Suppose a new federal budget raises health care spending by 15 million what is the opportunity cost of that change - ANSWER-The alternative uses of the additional money spent Zoe is deciding which of t...