Author: Anonymous

You have now completed your first course in economics.  Thanks for your hard work and your willingness to engage in a sometimes difficult subject.  I hope you have been equipped for some of the challenges and choices you will face, (because hey!  Economics is the study of choices).  I wish you all the best as you venture forward and go on with your lives.  

Suppose the marginal cost of taking an economics course is $2500 and the marginal benefit is worth $2600 to you. Following economic reasoning, you should:

The atmospheric pressure is highest at ___________ and would be lowest at ______ A. The beach at the ocean B. The top of Mount Everest

Match each scenario/phenomena to the effect that best describes it.

What would happen to NDP if there were no depreciation?  NDP would:

Refer to the graph below. Which point is unattainable?

Suppose there are 150 million people in the labor force and 400 million people in the population.  There are 10 million people who are officially unemployed.  What is the standard unemployment rate?        

If a government has $100 billion of debt initially, then in 2019 has an annual revenue of $157 billion and annual expenditures of $189 billion.  At the end of the year, the government has a:

An increase in the U.S. national debt would be:

Use the following table to calculate the unemployment rate, rounded to the nearest whole number. Labor Force 500 Children under 16, retirees, others who do not work 120 People who do not have jobs, actively looking for employment 42 Employed workers 283