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Macroeconomics Principles

Business

Quiz 1 :

Exploring Economics

Quiz 1 :

Exploring Economics

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Economics is a:
Free
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Answer:

D

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In which market is government most likely to intervene to prevent a market failure?
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B

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Economists tend to look:
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Answer:

C

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Which situation deals more with equity than efficiency?
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Because of scarcity:
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Scarcity refers to the fact that:
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The study of economics:
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Why is it important for students to study economics?
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Scarcity is BEST defined as when:
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Economics is BEST defined as the study of how:
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The MOST common way in which economists model a problem is by:
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Which policy is MOST likely to contribute to improved standards of living over time?
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When an economy uses the most efficient means of farming to grow as much corn as possible, this economy has achieved:
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Which headline would be LEAST likely to be studied in macroeconomics?
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Tim woke up this morning with a stomachache and decided to skip class in order to get more rest. What is the opportunity cost of Tim's decision to sleep in?
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Economics is a social science that involves the study of how individuals, firms, and societies:
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Reasons to study economics include all of these EXCEPT that you:
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Students who never miss class and study hard generally earn higher grades than those who do not. This is an example of:
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To say that economics is a way of thinking about how people make rational decisions means that people:
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Which question would be considered a normative question?
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