Econ 200 Study guides, Class notes & Summaries

SEXTON PEPPERDINE ECON 200 FINAL - PART ONE 2023-2024...

ECON 200 EXAM 2 Questions and Answers (2024/2025)(Verified Answers)Chapter 1 • Economics is • the study of how people make choices • the study of stock trading • the study of money • the study of large corporations • If it takes even a small amount of time, energy or money to acquire then a goodis • abundant • in shortage • cheap • scarce • An example of a direct negative incentive is: • providing a commission for sales. • awarding a promotion f...

Pepperdine Econ 200 Sexton Test Latest Update ...

Economics is best defined as ____________. A.) How people make money and profits in the stock market B.) Making choices from an unlimited supply of goods and services C.) Making choices with unlimited wants but facing a scarcity of resources D.) Controlling a budget for a household Making choices with unlimited wants but facing a scarcity of resources

marginalIf an individual pays an additional $0.30 in taxes as a result of a $1.00 increase in income, that individual has a(n)_____________ tax percent of 30 percent. rise; downward-slopingSuppose that in a certain nation the flat income tax rate of 40 percent is reduced to 35 percent and as a result taxable income rises from $400 billion to $600 billion. Tax revenues _____________, indicating the nation is on the _______________ portion of its Gaffer curve. cyclicalThat part of the de...

ECON 200 Final Study Guide Rated A+ marginal rise; downward-sloping cyclical money market deposit accounts bank deposits at the Federal Reserve equal $0 $4 million; $40 million federal open market committee banks will have a reserve deficiency federal funds bank's reserves increase buys; Fed; lowers; reserves none of the above purchase; decrease monetarists believe that control of the money supply is very important to the health of the economy can be turned into a theory of the m...

macroeconomicsconveys the overall health of the economy using such measures as unemployment, inflation, and economic growth rates microeconomicsthe study of how individual households and firms make decisions and how they interact in markets fiscal policyusing taxes and government spending to shape economic conditions monetary policyusing the money supply to change interest rates to increase or decrease consumption and investment

Grade Details1.Question: In the Dornbusch-Fischer-Samuelson graph above, a uniform improvement in labor productivity in all the home country's industries would shift the A schedule and would lead to the export of a number of goods by the home country. Your Answer: upward; greater CORRECT upward; smaller downward; greater downward; smaller Points Received:2 of 2 Comments: 2. Question: The following Classical-type table shows the number of days of labor input required to obtain one uni...

Smaller the value of the multiplier, because when people save more, they spend less, and decrease the overall spending multiplier Holding everything else constant in an economy, the larger the MPS, the: A) smaller the value of the multiplier. B) larger the value of the multiplier. 5,000 + .7YD, because Autonomous consumer spending is 5,000; and MPC is .7 (100 dollar increase, spend 70) Assume aggregate consumer spending equals $5,000 when aggregate disposable income is zero, and whe...

Economies of scaleA natural monopoly achieves ____ over the entire range of market supply: the maximum amount of output attainable from a given combination of factor inputsA production function describes: Marginal Physical ProductThe change in total output that results from one additional unit of input is the: Diminishing ReturnsIf more of an input factor is used, while holding other inputs constant, a firm will eventually experience: Total revenue and Total cost (Total revenue - Tot...