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ECON 202 Chapter 2 Exam Practice Questions &Answers;—The Economic Approach
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1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...

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  •  • 273 páginas • 
  • por Academia1434 • 
  • subido  02-03-2021
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ECON 202 Chapter 2 Exam Practice Questions &Answers;—The Economic Approach
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11,56 €

1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...

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  • por Academia1434 • 
  • subido  02-03-2021
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Sophia __ Microeconomics Final Milestone questions with 100% correct answers
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Sophia __ Microeconomics Final Milestone Which of the following is true about the field of economics? CONCEPT What is Economics? 2 A real estate agency’s policy is to start all sales commission negotiations at 6%. However, the agency is willing to accept sales commissions as low as 5%. The scenario above is an example of which principle? CONCEPT M arket Equilibrium 3 CEOs are limited in making policy changes regarding climate change by all of the following EXCEPT...

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  •  • 14 páginas • 
  • por ANTHONY79 • 
  • subido  12-02-2021
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Ashworth College - BUSINESS (C13V) - Microeconomics Exam 1 (New) > Attempt Score 100/100.
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Microeconomics Exam 1 BUSINESS (C13V) Question 1 of 20 5.0/ 5.0 Points Because resources are limited, . • A. only the very wealthy can get everything they want • B. firms will be forced out of business • C. the availability of goods will be limited but the availability of services will not • D. people must make choices Question 2 of 20 5.0/ 5.0 Points Resources are all of the following EXCEPT . • A. unlimited and in abundance • B. the things we use to produce goods and services ...

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  •  • 6 páginas • 
  • por dennys • 
  • subido  30-10-2019
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ACC498 Module 3 ECO Quiz 2017
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Question Question 1 Which one of the following is not a characteristic of public goods? Question 1 options: They are indivisible. Public goods can be used by increasing numbers of people at no additional cost. It is difficult to charge people on the basis of how much they use. Public goods are subject to the principle of rival consumption. Question 2 The part of the Federal Reserve System that determines monetary policy actions is the: Question 2 options: Federal Open Market Committee. District ...

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  •  • 9 páginas • 
  • por mastersolution • 
  • subido  08-11-2018
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ACC498 Module 3 ECO Quiz 2017
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Question Question 1 Which one of the following is not a characteristic of public goods? Question 1 options: They are indivisible. Public goods can be used by increasing numbers of people at no additional cost. It is difficult to charge people on the basis of how much they use. Public goods are subject to the principle of rival consumption. Question 2 The part of the Federal Reserve System that determines monetary policy actions is the: Question 2 options: Federal Open Market Committee. District ...

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  •  • 6 páginas • 
  • por mastersolution • 
  • subido  21-07-2017
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