MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) Utility is best defined as
1)
A) the price of a good.
B) the practical usefulness of a good.
C
Chapter 4 - Elasticity - Sample Questions
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The slope of a demand curve depends on
1)
A) the uni
ECON 101 MIDTERM EXAM 1
GROUP A
Name_
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Suppose Jeep Cherokees are a normal good. Then if househ
Practice Exam
Name U i giGQ
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) If there is a positive relationship between two variables, 1)
A)
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 2 Friday, August 26th, 2016
The topic of this class session was an introduction to our
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 5 Friday, September 2nd, 2016
Question 1.
Consider the 2 economies, Island 1 and Island
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 3 Monday, August 29th, 2016
We continued using diagrams of PPFs (Production Possibiliti
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 4 Wednesday, August 31st, 2016
Today we covered 2 questions:
Question 1: The island 1 a
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 1 Wednesday, August 24th, 2016
The topic of this class session was opportunity costs.
W
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 7 Friday, September 9th
Buyer & Seller Market Decisions
Lets consider the market for sw
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
Friday, September 16th, 2016
(1) The Market for Pizza
Quantity
Price $ Per Pizza Demanded Per
Month
Quantit
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
In Class Activity # 6 Wednesday, September 7th
1. We had a short final discussion of free trade. This was a
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
Wednesday, September 14th, 2016
The purpose of todays class is to:
Show that the market supply curve is the
PRINCIPLES OF MICROECONOMICS ECON 101
Department of Economics R I T
Instructor: Brd G. Hanna
Monday, September 12th, 2016
Today we returned to the numerical example with 8 potential buyers of sweaters
Increase/Decrease in Quantity
Demand
Increase in Demand
Decrease in Demand
P
P
P
A
P1
B
D2
P2
Demand
Q
Q1 Q2
Movement Up/Down the Demand
Curve
Change in Price
1. Increase in Price causes a
decrease in
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) All economic questions arise from the fact that
A) inflation is inevitable.
B) both wants and
C h a p t e r
3
4) A) B) C) D)
DEMAND AND SUPPLY
Markets and Prices
Topic: Price and Opportunity Cost Skill: Conceptual
Topic: Price and Opportunity Cost Skill: Analytical
1) A) B) C) D)
A relative pr
C h a p t e r
6
4)
MARKETS IN ACTION
Housing Markets and Rent Ceilings
Topic: Market Response to a Decrease in Supply Skill: Analytical
Topic: Long-Run Adjustments to a Decrease in Supply Skill: Analy
Chapter
7
Key Concepts
UTILITY AND
DEMAND
FIGURE 7.1
A Budget Line
Soda (six-packs per month)
Household Consumption Choices
Consumption choices are determined by the interaction
of the households cons
Factoring
I.
Common Factoring
A. Definition: Greatest Common Factor (GCF) or common factor is a number or
algebraic expression that appears in every term of the expression.
B. Examples:
i. 3 x 2 + 6 x
Quadratic Equations
I.
Quadratic Equations
a. Definition: A quadratic equation with one unknown variable is an
equation in which there appears an exponent of 2 on the unknown
(and sometimes an exponen
Dr. Shishkin
ECON 2106
Assignment #10
Fall 2010
Your name:_
The figure above illustrates the current market for apartments in Washington, D.C.
Refer to this figure to answer questions 1-8. Please show
Chapter 2 The Economic Problem
Test Bank
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The production possibilities frontier
A) refers to th
Chapter 3 - Demand and Supply - Sample Questions
Answers are at the end fo this file
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) A relativ
ECO 2301
Sec 002
Fall 2011
K. Becker
Exam 3
Form 2
Wednesday, November 30
Name_
SIN: R_
Choose the best answer to each of the following questions
MULTIPLE CHOICE. Choose the one alternative that best
Chapter 6 - Markets in Action - Sample Questions
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The short-run impact of the San Francisco ear
DHMMEC Microeconomics
Demand
Date: _
Instructions: Answer all questions. Indicate your answer by writing the letter neatly next to the
question.
1) The "law of demand" states that, other things remain