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Economics 101: Intro to Macro
Final Exam Review
Topics and Questions for Review
Production Possibilities Frontier
AP Micro Chapter 8 Test
Identify the choice that best completes the statement or answers the question.
1. There would be some control over price within rather narrow limits in which market model?
a. Monopolistic competition
Review question #1
1. What four basic functions does the entrepreneur perform for the economy?
2. Why might it be a good economic decision for a person such as Oprah Winfrey or Mark Zuckerberg to
drop out of college? Give an economic justification for suc
Measuring Domestic Output, National Income, and the Price Level
Measuring Domestic Output,
National Income, and the Price Level
A. Short-Answer, Essays, and Problems
1. Of what use is national income accounting to economists and to policy makers?
Chapter 03 - Demand, Supply, and Market Equilibrium
Chapter 03 Demand, Supply, and Market Equilibrium Answer Key
Multiple Choice Questions
1. A market:
A. reflects upsloping demand and downsloping supply curves.
B. entails the exchange of goods
Macroeconomics Unit 5 Practice Short Answer
a. Using monetary and fiscal policies outline an
expansionary policy that would encourage long-run
growth and explain why the policies will encourage
To encourage long-run growth, an
1. A firm is a:
Physical establishment which contributes to the production of goods and services
Business organization which owns and operate plants
Business organization which owns one plant
Physical establishment which is owned by
Micro Chapter 22 Practice Problems #2 Key
1. One feature of pure monopoly is that the demand curve:
A) is vertical. B) is horizontal. C) slopes upward. D) slopes downward.
2. The demand curve confronting a nondiscriminating pure monopolist is:
Micro Chapter 20 Practice Problems #1 Key
1. Jon Brooks quit hisjob in a bicycle shop, where he earned $15,000 per year, to become a graduate student in
economics. At the university he attended, he spent $2,000 on books, $1,000 on cough medicine, and earn
Fewer Americans Go to the Movies
The profits at movie theaters in the U.S. shrunk by 21 percent year-on-year. People are less likely
to go to the movies because they think tickets are overpriced, according to analysts. A report
from the Motion Picture Ass