Econ 101 Final |25 Questions| With Correct Answers.

structural unemployment {Ans: When one type of job is replaced by another, those who lost there job are an example of}Expected Money Growth - expected real GDP growth {Ans: How do you find the expected inflation rate?}someone has the ability to produce the same good for the lowest opportunity cost {Ans: Which describes the principle of comparative advantage?}The cost of Coke decreases {Ans: Coke and Pepsi are substitute soft drinks. Which of the following would cause the demand curve for Pepsi to shift to the left?}a lower opportunity cost than that of other countries {Ans: according to the theory of comparative advantage, a country should specialize in producing a good that involves?}income not spent on consumption of goods {Ans: Savings is defined as}