macroeconomics Questions and Answers
(100% Correct Answers) Already Graded A+
The study of a single firm and how it determines prices
would fall under: [ Ans: ] microeconomics
which of the following would be a part of macroeconomics
[ Ans: ] a study of recessions
water is considered a scarce good because [ Ans: ] not
enough of it is available for all needs at zero cost
you like to read vogue and sports illustrated. you only
have five dollars to spend so you only buy sports
illustrated. this statement best represents the economic
concept of [ Ans: ] resources are scarce
The local Taco Hut charges the same price for everything
on its menu: $3 will buy a taco, a burrito, or nachos. You
buy the taco and think that if you had not purchased the
taco, you would have purchased the burrito. The
opportunity cost of the taco is: [ Ans: ] the burrito
you have one dollar to spend on a vending machine snack.
a bag of chips will cost you one dollar and the candy bar
will also cost you one dollar if you choose the bag of
chips, the opportunity cost of buying the chips is [ Ans: ]
the enjoyment you would have recieved from the candy
bar
, a college student is faced with a difficult decision of how
to spend one hour tonight. she could babysit her
professors child at an hourly wage of seven dollars, she
could work at the college library at a wage of six dollars or
she could finish her econmics homework assignment. if
she chooses to complete her homework assignmnet, she
has incurred an opportunity cost equal to [ Ans: ] seven
dollars
in an attempt to reduce shooting deaths, some cities have
offered money to people who turn in their guns. this
program is an example of the government using __________
to influence behavior [ Ans: ] incentives
To encourage young people to go to college within their
home state, state universities can: [ Ans: ] offer lower
tuition to in state students
Florida schools offered cash bonuses to students who
scored high on the state's standardized exams. The cash
bonuses are an example of this economic principle: [ Ans:
] people usually respond to incentives
economist tend to believe that to change peoples behavior
you ust [ Ans: ] change their incentives
which of the following statements is a normative
statement [ Ans: ] the best way to encourage growth in the
economy is through government spending
(100% Correct Answers) Already Graded A+
The study of a single firm and how it determines prices
would fall under: [ Ans: ] microeconomics
which of the following would be a part of macroeconomics
[ Ans: ] a study of recessions
water is considered a scarce good because [ Ans: ] not
enough of it is available for all needs at zero cost
you like to read vogue and sports illustrated. you only
have five dollars to spend so you only buy sports
illustrated. this statement best represents the economic
concept of [ Ans: ] resources are scarce
The local Taco Hut charges the same price for everything
on its menu: $3 will buy a taco, a burrito, or nachos. You
buy the taco and think that if you had not purchased the
taco, you would have purchased the burrito. The
opportunity cost of the taco is: [ Ans: ] the burrito
you have one dollar to spend on a vending machine snack.
a bag of chips will cost you one dollar and the candy bar
will also cost you one dollar if you choose the bag of
chips, the opportunity cost of buying the chips is [ Ans: ]
the enjoyment you would have recieved from the candy
bar
, a college student is faced with a difficult decision of how
to spend one hour tonight. she could babysit her
professors child at an hourly wage of seven dollars, she
could work at the college library at a wage of six dollars or
she could finish her econmics homework assignment. if
she chooses to complete her homework assignmnet, she
has incurred an opportunity cost equal to [ Ans: ] seven
dollars
in an attempt to reduce shooting deaths, some cities have
offered money to people who turn in their guns. this
program is an example of the government using __________
to influence behavior [ Ans: ] incentives
To encourage young people to go to college within their
home state, state universities can: [ Ans: ] offer lower
tuition to in state students
Florida schools offered cash bonuses to students who
scored high on the state's standardized exams. The cash
bonuses are an example of this economic principle: [ Ans:
] people usually respond to incentives
economist tend to believe that to change peoples behavior
you ust [ Ans: ] change their incentives
which of the following statements is a normative
statement [ Ans: ] the best way to encourage growth in the
economy is through government spending
