Quiz 1 and Keys Fall 2010

Quiz 1 and Keys Fall 2010 - AGEC 105 Fall 2010 Quiz 1 Name...

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AGEC 105 Quiz 1 Fall 2010 Name: __________________________________ Choose the single best answer for each question. Each question is worth 2.5 points. 1. Economics is a. exclusively the study of the markets for stocks and bonds b. the study of choice under conditions of scarcity c. exclusively the study of business firms d. fundamentally the same as sociology e. applicable only when scarcity is not a problem 2. How retail gasoline stations behave in a local market is an example of a macroeconomic issue. a. True b. False 3. A microeconomist might study which of the following? a. how inflation changes over time for several countries b. how money supply aggregates are measured c. economic growth in less-developed countries in Africa d. the relationship between aggregate income and aggregate personal consumption e. why wages for females are lower than for males in a particular labor market 4. Positive economics deals with a. value judgments b. how the economy does work c. how the economy should work
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This note was uploaded on 12/01/2010 for the course AGEC 105 taught by Professor Capps during the Spring '08 term at Texas A&M.

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Quiz 1 and Keys Fall 2010 - AGEC 105 Fall 2010 Quiz 1 Name...

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