BSNS 113 Final Exam
1."Economy-wide phenomena including inflation, unemployment and eco- nomic growth" is what type of economics?: Macroeconomics
2."The study of how house holds and firms make decisions and how they interact in markets" is what type of economics?: Microeconomics
3.What is Positive Analysis?: A statement describing how something is
4.What is Normative Analysis?: A statement describing how something should be
5.Which of the following is most likely a macroeconomic topic?
a.Who gains and who loses from international trade.
b.The role of the Reserve Bank in controlling inflation.
c.What the "optimal" amount of pollution is.
d.How taxes affect peoples' behaviour.: b. The role of the Reserve Bank in controlling inflation . 6.Consider the following two statements:
Humans tend to have effectively unlimited wants for goods and services. Humans should limit their consumption for the sake of the environment. Which of the following is true?
a.Both statements are normative.
b.Both statements are positive.
c.(i) is a positive statement and (ii) a normative statement.
d.(i) is a normative statement and (ii) a positive statement.: c. (i) is a positive statement and (ii) a normative statement .
7.Which of the points on the diagram represent technically feasible combina- tions of goods and services producible in New Zealand?
a.B, C, D, and E
b.A, B, C, and E
c.A, B, and C
d.A, B, C, and D: d. A, B, C, and D
1."Economy-wide phenomena including inflation, unemployment and eco- nomic growth" is what type of economics?: Macroeconomics
2."The study of how house holds and firms make decisions and how they interact in markets" is what type of economics?: Microeconomics
3.What is Positive Analysis?: A statement describing how something is
4.What is Normative Analysis?: A statement describing how something should be
5.Which of the following is most likely a macroeconomic topic?
a.Who gains and who loses from international trade.
b.The role of the Reserve Bank in controlling inflation.
c.What the "optimal" amount of pollution is.
d.How taxes affect peoples' behaviour.: b. The role of the Reserve Bank in controlling inflation . 6.Consider the following two statements:
Humans tend to have effectively unlimited wants for goods and services. Humans should limit their consumption for the sake of the environment. Which of the following is true?
a.Both statements are normative.
b.Both statements are positive.
c.(i) is a positive statement and (ii) a normative statement.
d.(i) is a normative statement and (ii) a positive statement.: c. (i) is a positive statement and (ii) a normative statement .
7.Which of the points on the diagram represent technically feasible combina- tions of goods and services producible in New Zealand?
a.B, C, D, and E
b.A, B, C, and E
c.A, B, and C
d.A, B, C, and D: d. A, B, C, and D
