ECO 415 Final Exam Questions PART 1/ 2

This work of ECO 415 Final Exam Questions PART 1/ 2 consists of:

1. According to Figure 1.3, The Production Possibilities Curve. the point where only satellites are produced is

2. According to Figure 1.3, at which point is it possible for the economy to produce more of both goods?

3. According to Figure 1.3, which point cannot be obtained without an increase in production technology?

4. The principle that the cost of something is what is sacrificed to get it, is known as the

5. The opportunity cost of going to college

6. A demand curve is defined as the relationship between

7. The law of demand states that quantity demanded of a product increases as

8. The law of supply states that

9. Figure 4.1 illustrates the supply and demand for blue jeans. If the actual price of blue jeans is $30, there is

10. Figure 4.1 illustrates the supply and demand for blue jeans. If the actual price of blue jeans is $50, there is

11. Figure 4.1 illustrates the supply and demand for blue jeans. If the actual price of blue jeans is $30, we would expect that

12. Judy demands more peanuts as her income increases. From this, we can conclude that

13. A normal good is defined as a good for which demand decreases when

14. Two goods are complements if

15. Suppose that consumers expect the price of a product to decrease in the future. The result is that

16. Figure 4.2 illustrates the demand for guitars. An increase in the demand for guitars is represented by the movement from

17. Figure 4.2 illustrates the demand for guitars. A decrease in the demand for guitars is represented by the movement from

18. An inferior good is defined as a good for which demand decreases when

19. When Mary’s income increases, she purchases less hamburger. We can conclude that hamburger is

20. If a technological advance makes it possible to produce bananas at a lower cost

21. The value of all final goods and services produced during a given time period measures a nation’s

22. How does real gross domestic product (GDP) differ from nominal GDP?

23. If Sam does not have a job and is actively looking for work, he is considered

24. Which of the following should be included in U.S. GDP?

25. A period when economic growth is negative for at least six months is called a

26. The period of time in which the level of output moves out of recession to a peak is called

27. Which of the following would cause an increase in aggregate demand?

28. The relationship between the level of prices and the quantity of real GDP supplied is known as

29. Which of the following factors influence the position of the aggregate demand curve?

30. Keynesian fiscal policy refers to

31. Government policies designed to decrease total demand and GDP are called _________ policies.

32. Government policies designed to increase total demand and GDP are called _________ policies.

33. When money is accepted as payment for a good or service, it is being used as a:

34. For the perfectly competitive firm:

35. A perfectly competitive market:

36. A market in which firms sell a homogenous product and cannot influence market price is most likely

37. Pepsi uses advertising to create the impression that Pepsi is superior to any other soft drink. Pepsi is attempting to

38. As compared to a perfectly competitive firm, a monopolistically competitive firm will

39. Price fixing is an arrangement whereby firms agree to

40. Which of the following statements is false?


Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more