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Macroeconomics 3rd Edition by Karlan CH01

Macroeconomics 3rd Edition by Karlan CH01 Version 1 1 ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT MULTIPLE CHOICE - Choose the one... [Show More] alternative that best completes the statement or answers the question. 1) The principles of economics can explain which of the following? 1.Why people choose to work or go to college 2.Why a country might prosper 3.How the value of money changes over time 1) ______ A) II and III only B) I and II only C) III only D) I, II, and III Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Bloom's : Understand Difficulty : 02 Medium Learning Objective : 01-01 Explain the economic concept of scarcity. Topic : Basic Insights of Economics 2) Who makes decisions about how to allocate resources? 2) ______ A) Individuals B) Businesses C) Governments D) All of these make decisions about resource allocation. DOWNLOAD THE Test Bank for Macroeconomics 3rd Edition Karlan mynursytest.storeMacroeconomics 3rd Edition by Karlan CH01 Version 1 2 Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Learning Objective : 01-01 Explain the economic concept of scarcity. Bloom's : Remember Difficulty : 01 Easy Topic : Basic Insights of Economics 3) Which of the following statements best describes the study of economics? 3) ______ A) Economics studies how the Federal Reserve handles fluctuation in business cycles. B) Economics studies how individuals and groups manage scarce resources. C) Economics studies how people maximize returns in the stock market. D) Economics studies how governments determine appropriate tax rates. Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Learning Objective : 01-01 Explain the economic concept of scarcity. Bloom's : Remember Difficulty : 01 Easy Topic : Basic Insights of Economics 4) Alan could apply the principles of economic decision making when deciding: 1.how to spend his paycheck. 2.who to marry. 3.what to have for dinner after a long day at work. 4) ______ DOWNLOAD THE Test Bank for Macroeconomics 3rd Edition Karlan mynursytest.storeMacroeconomics 3rd Edition by Karlan CH01 Version 1 3 A) I, II, and III B) I only C) I and III D) II and III Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Bloom's : Understand Difficulty : 02 Medium Learning Objective : 01-01 Explain the economic concept of scarcity. Topic : Basic Insights of Economics 5) The two broad fields that make up the subject of economics are: 5) ______ A) microeconomics and macroeconomics. B) personal investments and business investments. C) fiscal policy and monetary policy. D) imports and exports. Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Learning Objective : 01-01 Explain the economic concept of scarcity. Bloom's : Remember Difficulty : 01 Easy Topic : Basic Insights of Economics 6) Which of the following is considered a microeconomic issue? 6) ______ DOWNLOAD THE Test Bank for Macroeconomics 3rd Edition Karlan mynursytest.storeMacroeconomics 3rd Edition by Karlan CH01 Version 1 4 A) The local university decides to raise tuition for online course offerings. B) The country of Zimbabwe has experienced a decline in inflation. C) The economic growth rate rises in the United States. D) The unemployment rate in Greece falls. Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Bloom's : Understand Difficulty : 02 Medium Learning Objective : 01-01 Explain the economic concept of scarcity. Topic : Micro versus Macro 7) Which of the following is considered a microeconomic issue? 7) ______ A) The unemployment rate in the United States from 1980 to present day B) Apple's newest version of the iPhone C) France’s growth rate over the last year D) All of these are examples of microeconomic issues. Question Details AACSB : Reflective Thinking Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Bloom's : Understand Difficulty : 02 Medium Learning Objective : 01-01 Explain the economic concept of scarcity. Topic : Micro versus Macro 8) Suppose Disney World decides to charge local residents a lower price than other park visitors. This would fall under which field of economics? [Show Less]

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