Which One Of The Following Expressions Best States The Idea Of Opportunity Cost?
A. Interaction among macro and micro considerations. Student: 1 . Economics may B. Social experience uneasy delay how men-folks, institutions, and companionship reach optimal choices beneath conditions of want. C. Empirical testing of estimate Judgments through the use of logic. D. Use of plan to repel grounds and hypotheses. 2. The want problem: A. Persists simply owing countries own failed to close normal generous avocation. B. Persists owing economic wants excel advantageous causative instrument.
C. Has been solved in all industrialized nations. D. Has been eliminated in abundant societies such as the United States and Canada. 3. In deciding whether to con-over for an economics rally or go to a movie, one is confronted by the purpose(s) of: A. Want and occasion requires. B. Money and legitimate important. C. Complementary economic goals. D. Generous emanation. 4. You should career to go to a movie: A. If the ultimate require of the movie excels its ultimate profit. B. If the ultimate profit of the movie excels its ultimate require. C. If your recognizeance accomplish recognize you to buy ticket.
D. Owing movies are pleasant. 5. The assumption that "There is no playing lunch" media that: A. There are regularly tradeoffs among economic goals. B. All emanation implicates the use of choice instrument and thus the offering of opinion property. C. Ultimate anatomy is not used in economic intensityd. D. Choices need not be made if demeanor is sensible. 6. Which one of the aftercited expressions best states the purpose of occasion require? A. "A penny saved is a penny earned. " B. "He who hesitates is past. " C. "There is no such invention as a playing lunch. D. All that glitters is not gold. " 7. (Consider This) A trodden require of going to propaganda is: A. Tuition, time an introdden require (occasion require) is books and other supplies. B. Forgone recognizeance time in propaganda, time an introdden require (occasion require) is schooling. C. Tuition, time an introdden require (occasion require) is forgone recognizeance time in propaganda. D. Books and supplies, time an introdden require (occasion require) is foundation and housing. 8. Even though topical newspapers are very mean, vulgar rarely buy further than Economics 202 By Mini Chaw-Pam
B. Implies that balbutiation should be taught through phonics rather than the entire dialect course. C. Contradicts the economic perspective. D. Implies that, for most vulgar, the ultimate profit of balbutiation a proccurrence newspaper is near than the ultimate require. 9. In economics, the favor, enjoyment, or atonement accepted from a emanation is called: A. Ultimate require. B. Sensible outcome. C. Status fulfillment. D. Utility. 10. Purposeful demeanor suggests that: A. Everyone accomplish reach particular choices. B. Resource availability excels economic wants.
C. Men-folks accomplish reach divergent choices owing of divergent desired outcomes. D. An individual's economic goals cannot implicate tradeoffs. 11. Which of the aftercited assertions pertains to macroeconomics? A. Owing the stint wage was rising, Mrs.. Olsen careerd to invade the work intensity. B. A extricate in the charge of soybeans caused citizen Wane to place further place in wheat. C. National recognizeance grew by 2. 7 percent conclusive year. D. The Pumpkin Cinvade State Bank increased its cause trounce on consumer loans by 1 percentage purpose. 12.
Which of the aftercited is a microeconomic assertion? A. The legitimate domiciliary output increased by 2. 5 percent conclusive year. B. Unavocation was 6. 8 percent of the work intensity conclusive year. C. The charge of identical computers extricated conclusive year. D. The open charge plane increased by 4 percent conclusive year. 13. A well-tested economic speculation is frequently called: A. A conjecture. B. A prototype. C. A faculty. D. An peculiarity. 14. The expression "sisters Paramus" media: A. That if occurrence A precedes occurrence B, A has caused B. B. That economics deals delay grounds, not estimates. C. Other inventions resembling.
D. Prosperity inevitably follows recession. 15. Suppose an economist says that "Other inventions resembling, the inferior the charge of bananas, the greater the sum of bananas purchased. " This assertion indicates that: A. The share of bananas purchased determines the charge of bananas. B. All factors other than the charge of bananas (for issue, consumer tastes and recognizeances) is conducive to be trustworthy. C. Economists can convoy inferior workatory experiments. D. One cannot openize encircling the harmony among the charge of bananas and the share purchased.