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econ exam/122 Questions and Answers/100% Verified

ECON Exam #1

Econ Final Exam|56 Questions with Solutions A+ Graded

Economics Chapter 5 Macroeconomics Concerns Which of the following is NOT a topic studied in Macroeconomics? A) gross domestic product B) the unemployment rate C) the price of IBM computers D) the inflation rate - ANSWER C Which of the following is a topic studied in Macroeconomics? A) gross domestic product B) the wage of auto workers C) the price of IBM computers D) the amount of pizza produced - ANSWER A Which of the following is a topic studied in Macroeconomics? A) ...

Econ Post Test QUICK PASS 2023 When the price of good A rises, people start to drink good B. In this case. - CORRECT ANSWER Good B is a substitute good. An increase in the price of a good would be illustrated on a demand graph as a: - CORRECT ANSWER Movement along the demand curve upward. If the number of consumers in the market for good A increases, what will happen to the equilibrium price and quantity of good A? - CORRECT ANSWER Equilibrium price and quantity will both increase Acc...

Econ Chapter 14 CORRECT ANSWERS 100% When reference is made to the ____________, it means the specific amount of income needed for a basic standard of living. A. poverty trap B. income line C. income gap D. poverty line - ANSWER D A situation of __________ arises when one group receives a higher share of total income or wealth than others. A. poverty B. inequality C. poverty entrapment D. quintiles - ANSWER B Antipoverty programs that are set up so that the amount of government...

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 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...

Which of the following best defines economics? - Correct AnswerB) Economics studies how to choose the best alternative when coping with scarcity. Which of the following BEST describes macroeconomics? - Correct AnswerA) It analyzes the aggregate effects on the national economy of the choices made by individuals, firms, and governments.