ECN 101 - Final Exam Multiple Choice already passed (latest update)

ECN 101 - Final Exam Multiple Choice
already passed (latest update)

A. Why - correct answer ✔✔Which of the following was not mentioned as one of the basic
economic questions?

A. Why

B. What

C. How

D. For Whom



A. Downward Sloping - correct answer ✔✔The market demand curve is _____.

A. Downward Sloping

B. Upward Sloping

C. Horizontal

D. None of the above



B. Legalships - correct answer ✔✔Which of the following was not mentioned as a business
type?

A. Corporations

B. Legalships

C. Proprietorships

D. All of the above were mentioned



D. All of the above were mentioned - correct answer ✔✔Which of the following was mentioned
as one of the factors of production in economics?

A. Land

, B. Capital

C. Labor

D. All of the above were mentioned



C. Savings - correct answer ✔✔Which of the following was not mentioned as a component of
the equation for GDP?

A. Consumption

B. Investment

C. Savings

D. All of the above were mentioned



B. Factor Costs - correct answer ✔✔Which of the following was mentioned as one of the
determinants of supply?

A. Tastes

B. Factor Costs

C. Number of Buyers

D. Income



C. Change in tastes - correct answer ✔✔Which of the following would cause a shift in the
demand curve?

A. Change in number of sellers

B. Change in price

C. Change in tastes

D. All of the above



A. Change in price - correct answer ✔✔Which of the following would cause a movement along
the supply curve?