3/19/26, 10:52 AM Econ 101
Econ 101 Final Exam Review 2026 Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ || Guaranteed Success!! Newest
Exam | Just Released!!
The cost of building a new interstate highway system is reported to be high at
$25 billion. Does it necessarily follow that the interstate highway is not worth
building?
No, because the benefits of building a new interstate highway system may be
greater than $25 billion.
A mandatory seatbelt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.10 to 0.07 while raising the number of accidents
per period from 35,000 to any more than
50,000
A mandatory seat-belt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.05 to 0.03 while raising the number of accidents
per period from 30,000 to greater than accidents per period.
50,000
Variables X and Y are independent of each other. If we plot X on the horizontal
axis and Y on the vertical axis, the line that connects combinations of X and
Y plotted in a two- variable diagram could be
parallel to the horizontal axis.
/ 1/21
,3/19/26, 10:52 AM Econ 101
All sellers may be tempted to raise the price of what they sell, but a negative
unintended effect for the seller of raising the price could be in units sold that is
large enough
to_______ the seller's total revenue earned.
a decrease; lower
A mandatory seatbelt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.11 to 0.08 while raising the number of accidents
per period from 100,000 to any more than
137,500
Several years ago, a bookstore chain extended its closing time from 9 p.m. to
10 p.m. Now it is considering a further extension to 11 p.m. In making this
marginal decision, the results of having gone from 9 p.m. to 10 p.m. are
no longer relevant to the current decision.
If scarcity didn't exist, neither would
rationing devices.
Which of the following is most likely to be a negative unintended effect of placing
safety caps on medicine containers?
People leave their medicine containers open more often, which ends up
making it easier for children to get into the medicine.
/ 2/21
, 3/19/26, 10:52 AM Econ 101
Which of the following statements is false?
To an economist, the resource capital consists of unproduced goods that can
be turned into produced goods.
Scarcity means
wants are greater than the limited resources available to satisfy these wants.
When economists speak of scarcity, they are referring to the
condition in which people's wants outstrip the limited resources available to
satisfy those wants.
Which of the following is a positive macroeconomics statement?
The increase in the nation's money supply helped push the nation's
unemployment rate down in the short run.
At the optimal or efficient level of an activity, the activity's marginal benefit must
equal the marginal cost of the activity.
"If you hadn't gone to dinner with your friends, you would have stayed home
and watched television." It follows that
watching television is the opportunity cost of having dinner with your friends.
Which of the following is a positive economic statement?
The budget deficit has been rising in recent years.
/ 3/21
Econ 101 Final Exam Review 2026 Most Recent Exam Actual
Complete Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ || Guaranteed Success!! Newest
Exam | Just Released!!
The cost of building a new interstate highway system is reported to be high at
$25 billion. Does it necessarily follow that the interstate highway is not worth
building?
No, because the benefits of building a new interstate highway system may be
greater than $25 billion.
A mandatory seatbelt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.10 to 0.07 while raising the number of accidents
per period from 35,000 to any more than
50,000
A mandatory seat-belt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.05 to 0.03 while raising the number of accidents
per period from 30,000 to greater than accidents per period.
50,000
Variables X and Y are independent of each other. If we plot X on the horizontal
axis and Y on the vertical axis, the line that connects combinations of X and
Y plotted in a two- variable diagram could be
parallel to the horizontal axis.
/ 1/21
,3/19/26, 10:52 AM Econ 101
All sellers may be tempted to raise the price of what they sell, but a negative
unintended effect for the seller of raising the price could be in units sold that is
large enough
to_______ the seller's total revenue earned.
a decrease; lower
A mandatory seatbelt law ends up raising the number of traffic fatalities if it
lowers
fatalities per accident from 0.11 to 0.08 while raising the number of accidents
per period from 100,000 to any more than
137,500
Several years ago, a bookstore chain extended its closing time from 9 p.m. to
10 p.m. Now it is considering a further extension to 11 p.m. In making this
marginal decision, the results of having gone from 9 p.m. to 10 p.m. are
no longer relevant to the current decision.
If scarcity didn't exist, neither would
rationing devices.
Which of the following is most likely to be a negative unintended effect of placing
safety caps on medicine containers?
People leave their medicine containers open more often, which ends up
making it easier for children to get into the medicine.
/ 2/21
, 3/19/26, 10:52 AM Econ 101
Which of the following statements is false?
To an economist, the resource capital consists of unproduced goods that can
be turned into produced goods.
Scarcity means
wants are greater than the limited resources available to satisfy these wants.
When economists speak of scarcity, they are referring to the
condition in which people's wants outstrip the limited resources available to
satisfy those wants.
Which of the following is a positive macroeconomics statement?
The increase in the nation's money supply helped push the nation's
unemployment rate down in the short run.
At the optimal or efficient level of an activity, the activity's marginal benefit must
equal the marginal cost of the activity.
"If you hadn't gone to dinner with your friends, you would have stayed home
and watched television." It follows that
watching television is the opportunity cost of having dinner with your friends.
Which of the following is a positive economic statement?
The budget deficit has been rising in recent years.
/ 3/21
