Multiple Choice: The Study of Economics
Autor: am1003800 • October 31, 2015 • Essay • 640 Words (3 Pages) • 1,139 Views
1.[pic 1] Multiple Choice: The study of economics arises due to
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Question | The study of economics arises due to |
Answer | scarcity greed money resources |
- [pic 3]Multiple Choice: Every society faces economic trade-...
2.[pic 4] Multiple Choice: Every society faces economic trade-...
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Question | Every society faces economic trade-offs. this means |
Answer | not everyone can have enough goods to survive some people live better than others do producing more of one good means less of another good can be produced. society's output cannot be made available to all. |
- [pic 6]Multiple Choice: Which of the following is a positiv...
3.[pic 7] Multiple Choice: Which of the following is a positiv...
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Question | Which of the following is a positive economic statement? |
Answer | The number of work visas should not be limited by the government The government should subsidize solar power for homeowners. The minimum wage law causes unemployment. People should not buy imported fruits and vegetables. |
- [pic 9]Multiple Answer: ------ occurs when economic bene...
4.[pic 10] Multiple Answer: ------ occurs when economic bene...
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Question | ------ occurs when economic benefits are distributed fairly. |
Answer | Allocative efficiency scarcity Productive efficiency Equity |
- [pic 12]Multiple Choice: Because marginal productivity of fa...
5.[pic 13] Multiple Choice: Because marginal productivity of fa...
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Question | Because marginal productivity of factors of productions is diminishing, production possibilities frontier is...... |
Answer | Convex towards origin Concaved towards origin Straight line there is no correct answer |
- [pic 15]Multiple Choice: Hala can bake either a combination o...
6.[pic 16] Multiple Choice: Hala can bake either a combination o...
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Question | Hala can bake either a combination of 35 tarts and 75 cupcakes or a combination of 50 tarts and 45 cupcakes. If she now bakes 35 tarts and 75 cupcakes, what is the opportunity cost of baking an additional unit of tarts (when she bakes 50 tarts instead of 35 tarts)? |
Answer | 2 cupcakes 5 cupcakes 30 cupcakes 45 cupcakes |
- [pic 18]Multiple Choice: An example of a factor of productio...
7.[pic 19] Multiple Choice: An example of a factor of productio...
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Question | An example of a factor of production is |
Answer | a car produced by an auto manufacturer the automobiles exported by an auto manufacturer An advertisement about an auto manufacturer a worker hired by an auto manufacturer |
- [pic 21]Multiple Choice: Which of the following will not shif...
8.[pic 22] Multiple Choice: Which of the following will not shif...
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Question | Which of the following will not shift the demand curve for a good? |
Answer | a decrease in the price of a substitute good an increase in population an increase in consumer incomes an increase in the price of the good |
- [pic 24]Multiple Choice: Which of the following would cause a...
9.[pic 25] Multiple Choice: Which of the following would cause a...
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Question | Which of the following would cause an increase in the equilibrium price and decrease in the equilibrium quantity of watermelon? |
Answer | A rightward shift in the demand curve. A leftward shift in the demand curve. A leftward shift in the supply curve. A rightward shift in the supply curve. |
- [pic 27]Multiple Choice: Technological change causes .......
10.[pic 28] Multiple Choice: Technological change causes .......
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Question | Technological change causes ....... |
Answer | A rightward shift in the demand curve A rightward shift in the supply curve A leftward shift in the demand curve A leftward shift in the supply curve |
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