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Econ 312 Week 1 to 7 Quizzes

  • Date Submitted: 03/15/2016 05:52 AM
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Week 1
Question 1. Question : (TCO 1) Economics is the study of

Question 2. Question : (TCO 1) The key economic concept that serves as the basis for the study of economics is

Question 3. Question : (TCO 1) From an economic perspective, when a student decides to attend another year of college, the student has concluded that the marginal

Question 4. Question : (TCO 1) Which is considered to be an economic resource by economists?

Question 5. Question : (TCO 1) A movement along the production possibilities curve would imply that

Question 6. Question : (TCO 1) Which would not be characteristic of a capitalist economy?

Question 7. Question : (TCO 1) The development of CDs and DVDs that significantly reduced the market for cassette tapes would be an example of

Question 8. Question : (TCO 1) Which of the following would be primarily determined in the resource market?

Question 9. Question : (TCO 1) By free enterprise, we mean that

Question 10. Question : (TCO 1) Which is the main problem with the barter system of exchange? Barter
Question 11. Question : (TCO 1) Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister’s wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine’s trip to the wedding? Show your calculations.

Question 12. Question : (TCO 1) What does “Invisible Hand” mean?

Week 2

Grading Summary
These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 7/18/2015

Question 1. Question : (TCO 2) A demand curve

Question 2. Question : (TCO 2) Which of the...


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