ECON102 Macroeconomics Unit 2 Challenge 2 In order to be effective, a price ceiling must be set __________. a.)below the current equilibrium price   b.)at the market clearing price   c.)above the current equilibrium price   d.)at the highest possible price for the market       When are consumer and producer surplus maximized?   […]

ECON102 Macroeconomics Unit 1 Challenge 2 Movements along the supply curve are a result of changes in __________. a.)input prices   b.)price   c.)regulations   d.)resource access       When a good is unit elastic, the absolute value of the elasticity is ___________.   a.)greater than 10   b.)less than one   c.)equal to […]

ECON102 Macroeconomics Unit 1 Challenge 1 Macroeconomics would include the study of __________. a.)household spending   b.)small firms   c.)prices of individual goods   d.)national infrastructures       Which of the following topics can macroeconomics help a person understand?   a.)How to handle your personal finances responsibly   b.)The impact of global trade   […]

ECON102 Macroeconomics Final Milestone 1An increase in which of the following will cause a rightward shift of AD? •             Imports   •             Exports   •             Peg   •             International Trade and Aggregate Demand     […]

ECON102 Macroeconomics Unit 4 Milestone Which of the following is a clear example of sustainable economic growth? An energy company develops new drilling technology that makes it possible to access petroleum even deeper than what is currently possible.   A machine is developed that can harvest fruits and vegetables at double the speed.   Hydroponic […]

ECON102 Macroeconomics Unit 3 Milestone 1Which of the following is an example of medium of exchange? People invest in gold because it stays stable over time and does not tarnish, rust or deteriorate.   A restaurant lists a price for dinner in gold coins.   People in the Pacific Islands used cowrie shells as a […]

ECON102 Macroeconomics Unit 2 Milestone 1In economic terms, which of the following happened when cupcakes went from being homemade treats to being specialized gourmet goodies with multiple TV shows devoted to them and people waiting in line for them?   A change in the quantity of cupcakes demanded caused movement along the demand curve.   […]

ECON102 Macroeconomics Unit 1 Milestone 1Which term below refers to investment and financial flows that have the ability to appreciate or depreciate currency?   Balance of payments   Capital account   Trade deficit   Current account   2Select the example below that is binding.   A price floor above equilibrium   A price floor at […]

ECON102 Macroeconomics Unit 4 Challenge 2 How does macroeconomic analysis utilize economic indicators? a.)Looks to lagging indicators as the best source of information   b.)Uses multiple indicators due to the complexity of the economy   c.)Considers leading indicators the most comprehensive   d.)Uses coincident indicators only in policy making       Which of the […]

ECON102 Macroeconomics Unit 4 Challenge 1 Using the graph, which of the following statements is true? a.)The level of output cannot be sustained indefinitely. b.)The economy is producing the maximum amount possible given current resources.   c.)The unemployment rates are falling.   d.)The economy is producing at a real GDP greater than the LRAS.   […]