Test_1 - EXERCISE1,Due Wed. August 25 Name_

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EXERCISE 1, Due Wed. August 25 Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Microeconomics is the branch of economics that deals with which of the following topics? A) The behavior of individual firms and investors B) Unemployment and interest rates C) The behavior of individual consumers D) B and C E) A and C 1) 2) A Rolling Stones song goes: ʺ You can ʹ t always get what you want. ʺ This echoes an important theme from microeconomics. Which of the following statements is the best example of this theme? A) Firms in market economies have limited financial resources. B) Consumers must make the best purchasing decisions they can, given their limited incomes. C) Workers in planned economies, such as North Korea, do not have much choice over jobs. D) Workers do not have as much leisure as they would like, given their wages and working conditions. 2)
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This note was uploaded on 10/20/2010 for the course ECON 303 at USC.

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Test_1 - EXERCISE1,Due Wed. August 25 Name_

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