Essay on Econ 102 Quiz - 1479 Words

Econ 102 quiz 1 Question 1 of 10 10.0/ 10.0 Points Economics is best defined as the study of A. financial decision-making B. how consumers make purchasing decisions. C. choices made by people faced with scarcity. D. inflation, unemployment, and economic growth Answer Key: C Question 2 of 10 10.0/ 10.0 Points Macroeconomics differs from microeconomics in that A. macroeconomics is the study of individual markets, while microeconomics deals with the nations economy as a whole. B. microeconomics is the study of individual markets, while macroeconomics deals with the nations economy as a whole. C. macroeconomics focuses principally on social and†¦show more content†¦C. includes measures of the underground economy. D. includes measures of changes of quality of life associated with producing output. Answer Key: B Econ 102 quiz 2 Question 1 of 10 10.0/ 10.0 Points Business cycles are A. movements in stock prices. B. the transfer of executives between firms. C. used to describe fluctuations in GDP. D. a description of the time required to bring a new product to market. Answer Key: C Question 2 of 10 10.0/ 10.0 Points Economists define the unemployed as individuals who are A. not currently working. B. not currently working but are actively looking for work. C. working but looking for a different job. D. working less than their desired amount of time. Answer Key: B Question 3 of 10 10.0/ 10.0 Points Economists define the labor force to include A. only people who are working full time. B. people who are working. C. people who are not working but are actively looking for a job, and people who are working. D. all individuals of work age, regardless of whether they are working or looking for a job. Answer Key: C Question 4 of 10 10.0/ 10.0 Points People who want to work but have stopped looking for work because they could not find jobs after actively searching are calledShow MoreRelatedVarian Solution153645 Words   |  615 Pagesscore on the second midterm. Which combination of scores would Nancy prefer, x1 = 20 and x2 = 70 or x1 = 60 and x2 = 50? (60,50). (e) On the graph above, use blue ink to draw an indiï ¬â‚¬erence curve showing all of the combinations of scores on her econ exams that Nancy likes exactly as well as x1 = 20 and x2 = 70. Also use blue ink to draw an indiï ¬â‚¬erence curve showing the combinations that Nancy likes exactly as well as x1 = 60 and x2 = 50. Does Nancy have convex preferences over these combinationsRead MoreAdvanced Placement Microeconomics23462 Words   |  94 Pagesaccompany Economics Principles, Problems and Policies, 15th Ed. Campbell McConnell Stanley Brue AP MICROECONOMICS SEMESTER PLAN Instructor, Mrs. Peggy Pride TEXT: Economics, Principles, Problems and Policies, 15th Edition, McConnell and Brue Video: Econ U$A series with discussion Class Activities: APIP workbook activities, reinforcement and writing activities and other teacher-developed materials This semester-long course gives students a thorough understanding of the principles of economics that