ECO/212 Final Examination Study Guide
This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers.
Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliar with, refer to the Student Guide for that particular week. The Student Guide provides a breakdown of the readings that align to the Final Examination questions.
Week One: Principles of Economics
Objective: Explain how the principles
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a. The effects of taxes on the prices of airline tickets, the profitability of automobile manufacturing firms, and employment trends in the food-service industry
b. The price of beef, wage differences between genders, and antitrust laws
c. How consumers maximize utility, and how prices are established in markets for agricultural products
d. The percentage of the labor force that is out of work and the difference in average income from country to country
Objective: Describe the roles of the government bodies that determine national fiscal policies.
12. Policymakers who control monetary and fiscal policy and want to offset the effects on output of an economic contraction caused by a shift in aggregate supply could use policy to shift
a. aggregate supply to the right
b. aggregate supply to the left
c. aggregate demand to the right
d. aggregate demand to the left
13. Which of the following would cause stagflation?
a. Aggregate demand shifts right.
b. Aggregate demand shifts left.
c. Aggregate supply shifts right.
d. Aggregate supply shifts left.
Objective: Explain the effects of fiscal policies on the economy’s production and employment.
14. Closely watched indicators such as the inflation rate and unemployment are released each month by the
a. Bureau of the Budget
b. Bureau of Labor Statistics
c. Department of the Treasury
d. President 's Council of Economic Advisors
15. One
5. Incentives matter. Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value highly relative to price and less likely to undertake the government-sponsored projects in which the per-unit cost of production is above the price consumers willingly
Directions: Read the captioned book. Then answer the questions contained in this study guide. Post your completed document to the appropriate assignment box on the course website.
Directions: Read the captioned book. Then answer the questions contained in this study guide. Post your completed document to the appropriate assignment box on the course website.
The species randomly settle throughout the rock. Both species are settled at the bottom and top. They settle on same parts of the rocks as the other species did. There is more of an abundance of the Chthamalus than the Semibalanus.
*If you go through each item on this study guide and read about it on the REFerenced page and corresponding TOPic in your text, you should have an excellent study guide for the Final Exam. If you do not do this, you will likely fail this exam miserably!
Which of the following statistics is usually regarded as the best single measure of a society’s economic well-being? C
Use the lecture folder to help you complete this guide. The more detail you can provide the better prepared for the test you will be.
Directions: Use your graded tests and Unit 4 & 5 notes to answer the following questions. You can find the answers for #’s 1 – 62 on Exam 1 (3rd Nine Weeks Exam) and #’s 63 – 100 on your unit notes. Write your answers in the space provided, below each question.
Guidelines: You may use all of the resources (e.g., textbook, other books, websites) available to you, EXCEPT FOR OTHER PEOPLE. Your work must be done individually. Any exams that appear similar in format and/or answers will be considered to have been done in a group setting. All such exams will receive a score of 0. Late exams will not be accepted for any reason. Any late exams will receive a score of 0. These policies will be strictly enforced.
Environmental scanning can be viewed as a way of acquiring information about outside events that can aid organizations in first identifying potential trends, then interpreting them
Supply and demand are the rulers of price in the capitalist economy of the United States, and farm goods rely on these factors as much as any other commodity. The demand for food remains relatively stable although slightly increasing year to year, but the supply fluctuates greatly depending on
Closely watched indicators such as the inflation rate and unemployment are released each month by the
3.) Stagflation - Stagflation is a slowdown in the economy, which can include high unemployment and this is paired up with high levels of inflation. It is significant because the economy is basically stuck. The middle class also tends to shrink in these periods because people loose the ability to have spending money. This is somewhat going on now with rising gas and food prices.
My tip for successful completion of this course it to use the study guide and previously taken quizzes for review for the
This final exam will use multiple choice questions. You will be required to answer 100-