BSNS 113 FINAL EXAM GUIDE 2024/2025
BSNS 113 FINAL EXAM GUIDE 2024/2025 |ACCURATE ANSWERS |VERIFIED
"Economy-wide phenomena including inflation, unemployment and
economic growth" is what type of economics? - ACCURATE
ANSWER✅✅Macroeconomics
"The study of how house holds and firms make decisions and how they
interact in markets" is what type of economics? - ACCURATE
ANSWER✅✅Microeconomics
What is Positive Analysis? - ACCURATE ANSWER✅✅A statement
describing how something is
What is Normative Analysis? - ACCURATE ANSWER✅✅A
statement describing how something should be
, 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. - ACCURATE
ANSWER✅✅b. The role of the Reserve Bank in controlling inflation.
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. -
ACCURATE ANSWER✅✅c. (i) is a positive statement and (ii) a
normative statement.
Which of the points on the diagram represent technically feasible
combinations 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 - ACCURATE ANSWER✅✅d. A, B, C, and D
BSNS 113 FINAL EXAM GUIDE 2024/2025 |ACCURATE ANSWERS |VERIFIED
"Economy-wide phenomena including inflation, unemployment and
economic growth" is what type of economics? - ACCURATE
ANSWER✅✅Macroeconomics
"The study of how house holds and firms make decisions and how they
interact in markets" is what type of economics? - ACCURATE
ANSWER✅✅Microeconomics
What is Positive Analysis? - ACCURATE ANSWER✅✅A statement
describing how something is
What is Normative Analysis? - ACCURATE ANSWER✅✅A
statement describing how something should be
, 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. - ACCURATE
ANSWER✅✅b. The role of the Reserve Bank in controlling inflation.
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. -
ACCURATE ANSWER✅✅c. (i) is a positive statement and (ii) a
normative statement.
Which of the points on the diagram represent technically feasible
combinations 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 - ACCURATE ANSWER✅✅d. A, B, C, and D
