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Economics and Society

by: Destinee Auer

Economics and Society ECON 2100

Destinee Auer
GPA 3.67

Christopher Clark

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Christopher Clark
Class Notes
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This 1 page Class Notes was uploaded by Destinee Auer on Monday October 12, 2015. The Class Notes belongs to ECON 2100 at Georgia College & State University taught by Christopher Clark in Fall. Since its upload, it has received 11 views. For similar materials see /class/221947/econ-2100-georgia-college-state-university in Economcs at Georgia College & State University.


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Date Created: 10/12/15
ECON 2100 Name Practice Set 1 TrueFalse 1 A production possibilities frontier PPF is a curve showing all combinations of 2 goods that can be produced with the resources and Technology currently available 2 Productive efficiency occurs when you are getting as much output from as few inputs as possible 3 A curved PPF exhibits constant opportunity costs Multiple Choice 4 Economics is the study of The production of commodities How human beings develop institutions to distribute limited resources Choice under conditions of scarcity How government policies solve the three economic allocation problems 99 5 The following is an example of a positive statement a Mary is an excellent teacher b Profits weren39t large enough this year c The value of Microsoft39s stock should increase this quarter d Exports to the US have risen since last January Short Answer 6 What is scarcity 7 How does microeconomics differ from macroeconomics 8 List the 4 types of resources discussed in class 1 3 2 4 9 Graphically depict what occurs to a PPF due to capital accumulation investment


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