Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about ? On this page you'll find 4 study documents about .
All 4 results
Sort by
-
Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated.
- Exam (elaborations) • 6 pages • 2024
-
- $12.99
- + learn more
Econ 104, Goffe. PSU Exam 2024 Questions and Answers| Verified &Updated. 
GDP the market value of all FINAL goods and services produced in a country during a period 
of time. 
GDP equation GDP(Y)=C (consumption) + I (investments) +G (gov purchases) +NX (net 
exports) 
Consumption expenditures made by households (excluding the purchase of a new house) 
Investment Final goods and services purchased by business firms (equipment for production 
and new buildings), changes in inventories (which is th...
-
Econ 104 PSU EXAM 1 || with 100% Accurate Solutions.
- Exam (elaborations) • 6 pages • 2024
- Available in package deal
-
- $10.49
- + learn more
Scarcity correct answers Although your wants are unlimited, the resources available to fulfill those wants are limited 
 
Economics correct answers Study of the choices consumers, business mangers and government officials make to attain their goals, given their scarce resources 
 
Economics Model correct answers A simplified description of reality, used to make predictions that can be tested with data 
 
3 Main Ideas correct answers 1. People are rational 
2. People respond to economic incentive...
-
Econ 104 PSU exam 1 || A+ Guaranteed.
- Exam (elaborations) • 3 pages • 2024
- Available in package deal
-
- $9.99
- + learn more
In economics the pleasure, happiness, or satisfaction received from a product are called __________. correct answers Utility 
 
An __________ ___________ is the cost associated with the alternative that was sacrificed to do or acquire something else. It is the cost associated with the foregone opportunity. correct answers Opportunity cost 
 
The study of economics is primarily concerned with what? correct answers Choices that are made in seeking to use scarce resources efficiently. 
 
The ______...
-
Econ 104 PSU exam 1 review || with A+ Guaranteed Solutions.
- Exam (elaborations) • 7 pages • 2024
- Available in package deal
-
- $10.79
- + learn more
What is Macroeconomics correct answers The study of the economy as a whole including topics such as inflation unemployment and economic growth 
 
What is the current unemployment rate correct answers 4.1% 
 
What are the 3 economic ideas about how people make choices in the market correct answers 1 people are rational 
2 people respond to economic incentives 
3 optimal decisions are made at the margins 
 
What does people are rational mean correct answers people take into account all available i...
And that's how you make extra money
Did you know that on average a seller on Stuvia earns $82 per month selling study resources? Hmm, hint, hint. Discover all about earning on Stuvia