ECON
312 Principles of Economics Entire Course
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ECON 312 Principles of Economics
Entire Course
ECON 312 Week 1 Quiz (2
Versions)
ECON 312 Week 1 Discussion
1 Opportunity Cost
ECON 312 Week 1 Discussion
2 Economic Systems
ECON 312 Week 2 Quiz
ECON 312 Week 2 Discussion
1 Demand, Supply & Market Equilibrium
ECON 312 Week 2 Discussion
2 Price Elasticity of Demand
ECON 312 Week 3 Assignment;
Anti-Trust Case
ECON 312 Week 3 Quiz (2
Versions)
ECON 312 Week 3 Discussion 1 A
Firm’s Shut Down Decision
ECON 312 Week 3 Discussion
2 Market Structure Classification
ECON 312 Week 4 Discussion
1 GDP
ECON 312 Week 4 Discussion
2 Unemployment and Inflation
ECON 312 Week 4 Midterm ( Set No 1 )
ECON 312 Week 4 Midterm ( Set No 2 )
ECON 312 Week 4 Midterm ( Set No 3 )
ECON 312 Week 5 Quiz (2
Versions)
ECON 312 Week 5 Discussion
1 Aggregate Demand and Aggregate Supply
ECON 312 Week 5 Discussion
2 Fiscal Policy
ECON 312 Week 6 Quiz
ECON 312 Week 6 Assignment; Current
Macroeconomic Situation in the U.S
ECON 312 Week 6 Discussion
1 Money and Banking
ECON 312 Week 6 Discussion
2 Monetary Policy and the Federal Reserve
ECON 312 Week 7 Quiz (2
Versions)
ECON 312 Week 7 Discussion
1 Free Trade
ECON 312 Week 7 Discussion
2 Foreign Exchange
ECON 312 Week 8 Final Exam
- (TCO 1) Opportunity
cost is best defined as (Points : 4)
- (TCO1) Which
is not a factor of production? (Points : 4)
- (TCO1) A
point outside the production possibilities curve is (Points : 4)
- (TCO1) A
basic characteristic of a command system is that (Points : 4)
- (TCO 2) Which
is consistent with the law of demand? (Points : 4)
- (TCO 2) A
decrease in supply and a decrease in demand will (Points : 4)
- (TCO 2) You
are the sales manager for a software company and have been informed that
the price elasticity of demand for your most popular software is less than
one. To increase total revenues, you should (Points : 4)
- (TCO 2) The
price elasticity of demand increases with the length of the period
considered because (Points : 4)
- (TCO 2) A
profit-maximizing firm in the short run will expand output (Points : 4)
- (TCO 2) Which
case below best represents a case of price discrimination? (Points : 4)
- (TCO 3) A
major reason that firms form a cartel is to (Points : 4)
- (TCO 3) The
main difference between the short run and the long run is that (Points :
4)
- (TCO 4) A
recession is a decline in (Points : 4)
- (TCO 4) The
unemployed are those people who (Points : 4)
- (TCO 4) GDP
is the market value of (Points : 4)
- (TCO 4) Nominal
GDP differs from real GDP because (Points : 4)
- (TCO 6) When
the federal government uses taxation and spending actions to stimulate the
economy it is conducting (Points : 4)
- (TCO 6) Refer
to the graph. What combination would most likely cause a shift from
AD1 to AD3?
- (TCO 6) The
American Recovery and Reinvestment Act of 2009 included mostly (Points :
4)
- (TCO 6) The
lag between the time the need for fiscal action is recognized and the time
action is taken is referred to as the (Points : 4)
- (TCO 5) A
decrease in government spending will cause a(n) (Points : 4)
- (TCO 5) The
long-run aggregate supply curve is (Points : 4)
- (TCO 5) Which
would most likely increase aggregate supply? (Points : 4)
- (TCO 5) Deflation
refers to a situation where (Points : 4)
- (TCO 6)
Dissaving occurs when (Points : 4)
- (TCO 7) The
M1 money supply is composed of (Points : 4)
- (TCO 7) The
basic requirement of money is that it be (Points : 4)
- (TCO 7) The
Federal Reserve System of the U.S. is the country’s (Points : 4)
- (TCO 7) Which
of the following is the most important function of the Federal Reserve
System? (Points : 4)
- (TCO 7)
Money is “created” when (Points : 4)
- (TCO 7)
During the financial crisis of 2007-2008, the FDIC increased deposit
insurance coverage from (Points : 4)
- (TCO 7) The
purchase and sale of government securities by the Fed is called (Points :
4)
- (TCO 7) The
Federal Reserve could reduce the money supply by (Points : 4)
- (TCO 8) Which
country is the United States’ largest trading partner in terms of volume
of trade? (Points : 4)
- (TCO 8) The
principal concept behind comparative advantage is that a nation should
(Points : 4)
- (TCO 8) A
tariff is a (Points : 4)
- (TCO 8) Tariffs
and quotas are costly to consumers because (Points : 4)
- (TCO 8) Tariffs
and import quotas would benefit the following groups, except (Points : 4)
- (TCO 8) Which
organization meets regularly to establish rules and settle disputes
related to international trade? (Points : 4)
- (TCO 9) U.S.
businesses are demanders of foreign currencies because they need them to
(Points : 4)
- (TCO 9) In
the balance of payments statement, a current account surplus will be
matched by a (Points : 4)
- (TCO 9) A
trade deficit means a net (Points : 4)
- (TCO 9)
Foreign exchange rates refer to the (Points : 4)
- (TCO 9) When
the exchange rate between pounds and dollars moves from $2 = 1 pound to $1
= 1 pound, we say that the dollar has (Points : 4)
- (TCO 9) The monetary
system for conducting international trade is usually described as a system
of (Points : 4)
- (TCO 8) a)
Explain four problems with the argument that trade protection is needed to
protect American jobs. b) Describe the economic reasons why
businesses use off shoring.
- (TCO 6) a)
Identify the four major tools of monetary policy. b) How can monetary
policy address the problem of inflation?