CH 1 PROBLEMS

CH 1 PROBLEMS - Question 1 0 out of 1 points 1. On the...

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Question 1 0 out of 1 points 1. On the blank following each phrase, write the number of the term below which matches it. 1. economics 2. macroeconomics 3. positive economics 4. normative economics 5. microeconomics 6. marginal analysis a. The attempt to establish scientific statements about economic behavior; a concern with "what is" rather than "what ought to be." [a] b. Part of economics that involves value judgments about what the economy should be like or the way the economic world should be. [b] c. Social science that studies how individuals, institutions, and society make optimal choices under conditions of scarcity. [c] d. Part of economics concerned with the whole economy or its major sectors. [d] e. The comparison of additional benefits and additional costs. [e] f. Part of economics concerned with the economic behavior of individual units such as households, firms, and industries (particular markets). [f]
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Specified Answer for: a 3 Specified Answer for: b 4 Specified Answer for: c 1 Specified Answer for: d 4 Specified Answer for: e 6 Specified Answer for: f 5 Correct Answers for: a 3 Correct Answers for: b 4 Correct Answers for: c 1 Correct Answers for: d 2 Correct Answers for: e 6 Correct Answers for: f 5
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This note was uploaded on 09/10/2009 for the course ECO 2251 taught by Professor Kirkland during the Spring '09 term at Troy.

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CH 1 PROBLEMS - Question 1 0 out of 1 points 1. On the...

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