EC1301-2009-1 - 2008/2009 EC 1301 Principles of Economics...

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2008/2009 EC 1301 Principles of Economics Semester 2 Tutorial No. 1 For Week Beginning 26 th Jan Multiple Choice Questions 1. Scarcity exists because of a. unlimited wants and limited resources. b. the market mechanism. c. price ceilings d. price floors e. both a and c f. both a and d 2. Which of the following is a normative statement? a. About 35,000 jobs will be created when the two integrated resorts and casinos come to life in 2009. b. Now that a decision has been made, Singaporeans should close ranks and work together to make the two integrated resort and casinos succeed for the country. c. City Developments Ltd has withdrawn from a joint bid with Las Vegas Sands Corp to build Singapore's first casino resort. d. The casinos will be ready by 2009. 3. A government study released recently shows a ranking of a few projects that they considered undertaking and is reproduced below: 1 st Build a highway 2 nd Build a school 3 rd Increase welfare payments 4 th Repaint old historic buildings
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This note was uploaded on 02/27/2009 for the course ECONOMICS ec1301 taught by Professor Roland during the Spring '09 term at National University of Singapore.

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EC1301-2009-1 - 2008/2009 EC 1301 Principles of Economics...

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