macro test - 1 Question Macroeconomics is best defined by...

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1.Question :Macroeconomics is best defined by which of the following statements?Student Answer:Macroeconomics is the study of how firms strive to maximizetheir profits. Macroeconomics is the study of the behavior of the economy as a whole. Macroeconomics is the study of individual economic units. Macroeconomics is the study of how the prices of individual goods are determined.
Points Received:1 of 1 Comments:Question 2.Question :One major assumption of economics is that people __________.
Points Received:1 of 1 Comments:-696290905MultipleChoice1True0-696290905MultipleChoice1-696290904MultipleChoice2True0-696290904MultipleChoice2
Question 3.Question :Normative economics is __________.
Points Received:1 of 1 Comments:Question 4.Question :The saying that "There's no such thing as a free lunch" illustrates the economic concept of __________.
Points Received:1 of 1 Comments:-696290903MultipleChoice5True0-696290903MultipleChoice5-696290902MultipleChoice9True0-696290902MultipleChoice9
Question 5.Question :A bowed Production Possibilities Curve (PPC) indicates __________.Student Answer:inefficient production that the trade-off between the 2 goods is not constant changing technology only 1 good is always being produced
Points Received:1 of 1 Comments:Question 6.Question :Generally, if a nation produces more consumer goods than capitalgoods __________.
Points Received:1 of 1 Comments:-696290901MultipleChoice11True0-696290901MultipleChoice11-696290900MultipleChoice12True0-696290900MultipleChoice12

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