Final exam econ 101 Study guides, Class notes & Summaries

In a competitive market, excess demand for a good exists whenever....? a. resources are scarce b. the current price is below the equilibrium price c. the current price is above the equilibrium price d. sellers are subject to the constraints imposed by input prices and technology e. the quantity supplied at the current price exceeds the quantity demanded

History of Financial Planning - ANSWER-1960's - few stock brokers and insurance salesmen 1970's - industry went from stock and insurance sales to comprehensive financial plans 1971 - College of Financial Planning founded 1973 - first CFP's issued to 42 people 1990's - booming economy entrance of many traditional banks and brokerage houses into financial planning area Name different duties of a financial planner - ANSWER-- comprehensive financial plan - selecting overall asset alloc...

In a competitive market, excess demand for a good exists whenever....? a. resources are scarce b. the current price is below the equilibrium price c. the current price is above the equilibrium price d. sellers are subject to the constraints imposed by input prices and technology e. the quantity supplied at the current price exceeds the quantity demanded - CORRECT ANSWERS b. the current price is below the equilibrium price Which of the following is an example of a stock variable? a. The a...

2. Suppose you are forced to take a pay cut of 5% when the economy is experiencing overall deflation of 5%. If in response to your pay cut you also reduce your consumption by 5%, then economists would say: A) the quantity theory of money held. B) you are exhibiting money illusion. C) you made a rational decision. D) your real wage decreased by 5%. - JB I3. Continued long-run economic growth requires that economies: A) continue to increase their investment rates. B) reach their steady-s...

ECON 200C Final Exam

ECON 101 Final Exam A Part 1 of 1 - 99.99999 Points Question 1 of 20 4.45 Points The representative firm in a purely competitive industry: A.Will always earn a profit in the short run B.May earn either an economic profit or a loss in the long run C.Will always earn an economic profit in the long run D.Will earn an economic profit of zero in the long run Question 2 of 20 4.45 Points An example of a monopolistically competitive industry would be: A.Steel B.Soybe...

Econ 101 Final exam 1. A change in the price of a good has two effects on quantity demanded; these are A. the income effect and the utility effect. B. the substitution effect and the utility effect. C. the indifference effect and the substitution effect. D. the income effect and the substitution effect. E. the indifference effect and the income effect. 2. Assume that the technology used by firms improves. As a result, supply shifts from to and the equilibrium price moves f...

Solutions - Practice Final Exam - Winter ions and answers 100% passed