Past Exam for ECON 2005 - Principles of Economics at Virginia Tech (VT)

Exam Information

Material Type:Exam
Class:ECON 2005 - Principles of Economics
University:Virginia Polytechnic Institute And State University
  • Congregation
  • Opportunity
  • Opportunity Cost
  • Explanation
  • Complements
  • Excess Demand
  • Increase in Demand
  • Substitutes
  • Technological Advance
  • Cash Payment
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Sample Document Text

Practice Test Questions I. Chapter 1,2 1. In 1977 a Seventh Day Adventist congregation in Manhattan purchased a former synagogue for $400,000. Several years later the congregation decided to sell it because the maintenance costs were running $100,000 per year, too much for the congregation to pay. In 1982, a developer paid the congregation $2.4 million for the property. Based on this information, the cost to the congregation of continuing t~ u,se the. building would have been: (vI \< C)rf'l(\~'\ A J ( 0<;,\ ;,.

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