Eco Study guides, Class notes & Summaries

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 5 & UNIT 6 UNIT 5 The unemployment rate is the percentage of the The most important monetary tool of the Fed is Another term for the poverty threshold is The U.S. national debt is If I have lost my job because there is a recession, then I am The term relative poverty is Charging higher interest on loans than they pay on depositors' accounts is The economist believed that a capitalist market e...

1. Markets sometimes fail to allocate resources efficiently. ANS: T DIF: 2 REF: 10-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market failure MSC: Interpretive 2. When a transaction between a buyer and seller directly affects a third party, the effect is called an externality. ANS: T DIF: 1 REF: 10-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Externalities MSC: Definitional 3. Buyers and sellers neglect the external effects of their actions when d...

UCI Econ / IS 13 Homework 2 (100 points) Multiple & Explanatory Questions & Answers ECON 13 Homework 2 / ECON13 Homework 2 (Questions & Answers) : University of California ECON 13 Homework 2 / ECON13 Homework 2 (Questions & Answers) : University of Arizona Multiple Choice (1 point each) Identify the choice that best completes the statement or answers the question. ____ 1. The nation of Pineland forbids international trade. In Pineland, you can buy 1 pound of fish for 2 pounds of pineapples....

UCI Econ / IS 13 Homework 2 (100 points) Multiple & Explanatory Questions & Answers ECON 13 Homework 2 / ECON13 Homework 2 (Questions & Answers) : University of California ECON 13 Homework 2 / ECON13 Homework 2 (Questions & Answers) : University of Arizona Multiple Choice (1 point each) Identify the choice that best completes the statement or answers the question. ____ 1. The nation of Pineland forbids international trade. In Pineland, you can buy 1 pound of fish for 2 pounds of pineapples....

UNIVERSITY OF ARIZONA ECON 200 Chapter 3,Chapter 4 & Chapter 5 Study Guide Questions & Answers Chapter 3 1. The most expensive private high schools in New York City cost close to $50,000 a year to attend. That is MORE than it costs to attend some elite universities. What explains why the tuition is so high at these schools? A) There is very high demand. B) There is a limited supply of highly prestigious schools. C) The demand is low but supply is large. D) The demand is quite high and the...

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 3 & UNIT 4 UNIT 3 Not all business people are entrepreneurs. Entrepreneurs are motivated by__ to assume the__ of production. The process of a government taking money, in the form of takes, from wealthier citizens and then using that money to provide for needier citizens is called i Inventions, plants, and non-human mammals can be protected by Products of the mind, such as inventions, are called "From eac...

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 7 UNIT 7 All of the following are criteria used by the United Nations for determining the world's least developed countries EXCEPT If Country A can produce a good at a lower opportunity cost than Country B then Country A is said to have a(n)__ In May, the exchange rate of $U.S. dollars to Danish krone is $1=4.5 krone. In September of the same year the exchange rate is $1= 4.25 krone. what has happened to the value ...

Capital: Consequence: Cost: Economics: Economize: Entrepreneur: Factors of production. • Monetary Cost: Opportunity Cost: Physical Capital: Production Possibilities Curve (PPC): Production Possibilities Frontier: . Profit Motive: Scarcity: Sunk Cost: Thinking On The Margin: “There Is No Such Thing As A Free Lunch”: Trade-Off: Underutilization: UNIT 2 In a free market, which occurs in the product market? Which of the following is ...