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ECN 211 ASU Final Exam 2025 Questions and Answers
ECN 211 ASU Final Exam 2025 Questions and Answers
Course:
ECN 211
Institution:
ECN 211
ECN 211 ASU Final Exam 2025 Questions and Answers
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| Uploaded on: | September 4, 2025 |
| Last updated: | September 5, 2025 |
| Number of pages: | 10 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | ECN 211 ASU Final Exam 2025 Questions and Answers |
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ECN 211 ASU Final Exam 2025 Questions and Answers The Circular Flow Diagram - ....ANSWER ...-Green arrows represent the flow of money and red represents to flow of goods/services Production possibilities Frontier/ Curve PPF: PPC - ....ANSWER ...-The curve shows what is possible within an economy D- impossible A&B - feasible efficient C - feasible & inefficient PPF shifts out when... - ....ANSWER ...-the economy can produce more of everything Opportunity Cost - ....ANSWER ...-the cost of what you give up to get something else in terms of time, money, or other goods Absolute Advantage - ....ANSWER Comparative Advantage - ....ANSWER ...-Who can make most of that good ...-The lowest opportunity cost for that good What would allow Panama and Canada to trade? - ....ANSWER ...-They want to trade within their opportunity cost …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1
