Principles of Microeconomics Exam
Questions and Answers | Certified
GRADES
Which of the following is a reason to study economics? - CORRECT ANSWER--
To understand society and to learn a new way of thinking
- To understand global affairs
- To be an informed citizen
The Federal Aviation Administration (FAA) is considering increasing the number
of takeoff and landing slots available at Ronald Reagan Washington National
Airport. - CORRECT ANSWER-This is an example of a
microeconomic
concern.
The president has proposed increasing the marginal tax rate for people whose
annual earnings exceed $275,000 and lowering the marginal tax rate for those who
earn less than $275,000. - CORRECT ANSWER-This is an example of a
macroeconomic
, concern.
Walmart announced that it will increase its starting wage for employees to $10 per
hour by February, 2016. - CORRECT ANSWER-This is an example of a
microeconomic
concern.
Congress extends the maximum duration for the collection of unemployment
benefits from 26 weeks to 52 weeks. - CORRECT ANSWER-This is an example
of a
macroeconomic
concern
The field of economics that deals primarily with the factors that determine wage
rates, employment, and unemployment is calle - CORRECT ANSWER-labor
economics
A devaluation of the U.S. dollar would increase exports from the United States: -
CORRECT ANSWER-positive analysis
Increasing the federal tax on gasoline would cause shipping costs in the United
States to increase - CORRECT ANSWER-positive analysis
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
Questions and Answers | Certified
GRADES
Which of the following is a reason to study economics? - CORRECT ANSWER--
To understand society and to learn a new way of thinking
- To understand global affairs
- To be an informed citizen
The Federal Aviation Administration (FAA) is considering increasing the number
of takeoff and landing slots available at Ronald Reagan Washington National
Airport. - CORRECT ANSWER-This is an example of a
microeconomic
concern.
The president has proposed increasing the marginal tax rate for people whose
annual earnings exceed $275,000 and lowering the marginal tax rate for those who
earn less than $275,000. - CORRECT ANSWER-This is an example of a
macroeconomic
, concern.
Walmart announced that it will increase its starting wage for employees to $10 per
hour by February, 2016. - CORRECT ANSWER-This is an example of a
microeconomic
concern.
Congress extends the maximum duration for the collection of unemployment
benefits from 26 weeks to 52 weeks. - CORRECT ANSWER-This is an example
of a
macroeconomic
concern
The field of economics that deals primarily with the factors that determine wage
rates, employment, and unemployment is calle - CORRECT ANSWER-labor
economics
A devaluation of the U.S. dollar would increase exports from the United States: -
CORRECT ANSWER-positive analysis
Increasing the federal tax on gasoline would cause shipping costs in the United
States to increase - CORRECT ANSWER-positive analysis
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
