ECO 405 Quiz 1

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ECO 405 Quiz 1 Click Below Link To Purchase www.foxtutor.com/product/eco-405-quiz-1 • Question 1 4 out of 4 points Given the amounts of resources available for an economy, GDP Answer • Question 2 4 out of 4 points A three-year-old learns about the fundamental economic problem when she Answer • Question 3 4 out of 4 points Which of the follow best describes human wants and desires? They Answer • Question 4 4 out of 4 points Which of the following is the primary goal of an economy? Answer • Question 5 4 out of 4 points Real per capita GDP is defined as Answer • Question 6 4 out of 4 points The fundamental economic problem involves Answer • Question 7 4 out of 4 points When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate? Answer • Question 8 4 out of 4 points The fundamental economic problem is Answer • Question 9 4 out of 4 points A production possibilities curve represents all of an economy's combinations for production that are Answer • Question 10 4 out of 4 points The means for satisfying wants are Answer • Question 11 4 out of 4 points If education and food are the two goods that society can produce, an increase in the production technology for food will result in Answer • Question 12 4 out of 4 points If an economy is experiencing unemployment, it is operating at a point Answer • Question 13 4 out of 4 points If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will Answer • Question 14 4 out of 4 points To correct for inflation, GDP numbers must be converted using the price level in a given year known as the Answer • Question 15 4 out of 4 points The quality of the labor force is often measured by Answer

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ECO 405 Quiz 1 Click Below Link To Purchase www.foxtutor.com/product/eco-405-quiz-1 • Question 1 4 out of 4 points Given the amounts of resources available for an economy, GDP Answer • Question 2 4 out of 4 points A three-year-old learns about the fundamental economic problem when she Answer • Question 3 4 out of 4 points Which of the follow best describes human wants and desires? They Answer • Question 4 4 out of 4 points Which of the following is the primary goal of an economy? Answer • Question 5 4 out of 4 points Real per capita GDP is defined as Answer • Question 6 4 out of 4 points The fundamental economic problem involves Answer • Question 7 4 out of 4 points When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate? Answer • Question 8 4 out of 4 points The fundamental economic problem is Answer • Question 9 4 out of 4 points A production possibilities curve represents all of an economy's combinations for production that are Answer • Question 10 4 out of 4 points The means for satisfying wants are Answer • Question 11 4 out of 4 points If education and food are the two goods that society can produce, an increase in the production technology for food will result in Answer • Question 12 4 out of 4 points If an economy is experiencing unemployment, it is operating at a point Answer • Question 13 4 out of 4 points If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will Answer • Question 14 4 out of 4 points To correct for inflation, GDP numbers must be converted using the price level in a given year known as the Answer • Question 15 4 out of 4 points The quality of the labor force is often measured by Answer

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