Econ 200 Study guides, Class notes & Summaries
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SEXTON PEPPERDINE ECON 200 FINAL - PART ONE 2023-2024
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SEXTON PEPPERDINE ECON 200 FINAL - PART ONE 2023-2024...
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ECON 200 EXAM 2 Questions and Answers (2024/2025)(Verified Answers)
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ECON 200 EXAM 2 Questions and Answers (2024/2025)(Verified Answers)Chapter 1 
 
•	Economics is 
 
•	the study of how people make choices 
•	the study of stock trading 
•	the study of money 
•	the study of large corporations 
 
•	If it takes even a small amount of time, energy or money to acquire then a goodis 
 
•	abundant 
•	in shortage 
•	cheap 
•	scarce 
 
•	An example of a direct negative incentive is: 
 
•	providing a commission for sales. 
•	awarding a promotion f...
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ECON 200 Exam Questions And Answers (Updated And Verified)
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ECON 200 Exam Questions And Answers 
(Updated And Verified) 
Economics is best defined as ____________. 
A.) How people make money and profits in the stock market 
B.) Making choices from an unlimited supply of goods and services 
C.) Making choices with unlimited wants but facing a scarcity of resources 
D.) Controlling a budget for a household - answerMaking choices with unlimited wants but 
facing a scarcity of resources 
When an economy produces more houses and fewer typewriters, it is answe...
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ECON 200 Exam Questions And Answers (Updated And Verified)
- Exam (elaborations) • 18 pages • 2024
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ECON 200 Exam Questions And Answers 
(Updated And Verified) 
Economics is best defined as ____________. 
A.) How people make money and profits in the stock market 
B.) Making choices from an unlimited supply of goods and services 
C.) Making choices with unlimited wants but facing a scarcity of resources 
D.) Controlling a budget for a household - answerMaking choices with unlimited wants but 
facing a scarcity of resources 
When an economy produces more houses and fewer typewriters, it is answe...
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ECON 200 Final Exam Questions And Answers (Updated And Verified)
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ECON 200 Final Exam Questions And 
Answers (Updated And Verified) 
Marginal - answerIf an individual pays an additional $0.30 in taxes as a result of a $1.00 
increase in income, that individual has a(n)_____________ tax percent of 30 percent. 
rise; downward-sloping - answerSuppose that in a certain nation the flat income tax rate of 
40 percent is reduced to 35 percent and as a result taxable income rises from $400 billion to $600 
billion. Tax revenues _____________, indicating the nation is ...
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ECON 200 Exam Questions And Answers (Updated And Verified)
- Exam (elaborations) • 18 pages • 2024
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ECON 200 Exam Questions And Answers 
(Updated And Verified) 
Economics is best defined as ____________. 
A.) How people make money and profits in the stock market 
B.) Making choices from an unlimited supply of goods and services 
C.) Making choices with unlimited wants but facing a scarcity of resources 
D.) Controlling a budget for a household - answerMaking choices with unlimited wants but 
facing a scarcity of resources 
When an economy produces more houses and fewer typewriters, it is answe...
-
ECON 200 Final Exam Questions And Answers (Updated And Verified)
- Exam (elaborations) • 8 pages • 2024
- Available in package deal
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- $11.49
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ECON 200 Final Exam Questions And 
Answers (Updated And Verified) 
Marginal - answerIf an individual pays an additional $0.30 in taxes as a result of a $1.00 
increase in income, that individual has a(n)_____________ tax percent of 30 percent. 
rise; downward-sloping - answerSuppose that in a certain nation the flat income tax rate of 
40 percent is reduced to 35 percent and as a result taxable income rises from $400 billion to $600 
billion. Tax revenues _____________, indicating the nation is ...
-
Pepperdine Econ 200 Sexton Test Latest Update
- Exam (elaborations) • 5 pages • 2023
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Pepperdine Econ 200 Sexton Test Latest Update ...
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Econ 200 Exam Questions And Answers (Updated And Verified)
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Econ 200 Exam Questions And Answers 
(Updated And Verified) 
Economies of scale - answerA natural monopoly achieves ____ over the entire range of 
market supply: 
the maximum amount of output attainable from a given combination of factor inputs - 
answerA production function describes: 
Marginal Physical Product - answerThe change in total output that results from one 
additional unit of input is the: 
Diminishing Returns - answerIf more of an input factor is used, while holding other inputs 
co...
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Econ 200 Exam Questions And Answers (Updated And Verified)
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
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- $10.49
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Econ 200 Exam Questions And Answers 
(Updated And Verified) 
Economies of scale - answerA natural monopoly achieves ____ over the entire range of 
market supply: 
the maximum amount of output attainable from a given combination of factor inputs - 
answerA production function describes: 
Marginal Physical Product - answerThe change in total output that results from one 
additional unit of input is the: 
Diminishing Returns - answerIf more of an input factor is used, while holding other inputs 
co...
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