macro sheflin quiz 1 - Review Assessment Quiz 1 Name Status...

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Review Assessment: Quiz 1 Name: Quiz 1 Status: Completed Score: 10 out of 10 point(s) Time Elapsed: 9 minutes and 37 seconds out of 20 minutes allowed. Instructions: Question 1 Multiple Choice 0.5 of 0.5 point(s) Which of the following questions is not answered by the decisions that every society must make? Your Answer: What determines consumer preferences? Correct Answer: What determines consumer preferences? Question 2 Multiple Choice 0.5 of 0.5 point(s) Figure 2-1 Refer to Figure 2-1 . Which arrow represents the flow of spending by households? Your Answer: A Correct Answer: A Question 3 Multiple Choice 0.5 of 0.5 point(s) Which of the following is an example of a positive statement? Your Answer: Prices rise when the government prints too much money. Correct Answer: Prices rise when the government prints too much money. Question 4 Multiple Choice 0.5 of 0.5 point(s)
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Figure 2-6 Refer to Figure 2-6 . What is the opportunity cost to society of the movement from point A to point C? Your Answer: 100 baseballs Correct Answer: 100 baseballs Question 5 Multiple Choice 0.5 of 0.5 point(s) Figure 2-6 Refer to Figure 2-6 . A movement from point C to point D could be caused by
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