ECO101H1 Study Guide - Food Bank, Opportunity Cost, Comparative Advantage

• School: UTSG
• Department: Economics
• Course: ECO101H1
• Professor: all

Document Summary

Yikes , the final exam is coming soon time to do some review! To help you get started on the micro part of the course, here are 40 mc questions. All of the following questions have appeared on past final exams. Note that there are no questions in this assignment on income and substitution effects, the labour market or models between competition and monopoly. These topics may be included on the final exam, albeit not necessarily as part of the mc section. (answers provided on the last page. ) One way to test your readiness for the final exam is to try these questions in one sitting, without peeking at answers. Country z, which has a concave production-possibilities curve [ppc], produces only motor scooters and radios with factors capital and labour. Apples are produced by one variable factor [labour] and one fixed factor [land].