Assignment#1 - ViewAttempt1ofunlimited Title: Assignment 1...

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View Attempt 1 of unlimited Title: Assignment 1 DUE JAN 18 Started: January 5, 2010 11:15 PM Submitted: January 12, 2010 8:11 PM Time spent: 164:55:51 Total score: 20/20 = 100% Total score adjusted by 0.0 Maximum possible score: 20 1. Which of the following is a positive macroeconomics statement? Student Response Correct Answer 1.The central bank should increase the nation's money supply. 2.The local government ought to spend more on recreational facilities. 3.The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. 4.Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. Score: 1/1 2. Which of the following is a normative macroeconomics statement?
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Student Response Correct Answer 1.The local government ought to spend more on recreational facilities. 2.The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. 3.Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. 4.The central bank should increase the nation's money supply. Score: 1/1 3. Opportunity cost is the value of Student Response Correct Answer 1.an economic good. 2.the chosen alternative. 3.a free good. 4.the best forfeited alternative. Score: 1/1 4.
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Prior to attending college, Darius is offered a lucrative four-year contract as an actor in a daytime soap opera. Assuming that acting and attending college are Darius' preferred alternatives and that he must choose between the two, his cost of attending college after receiving the offer Student Response Correct Answer 1.increases or stays the same depending on whether he accepts the offer. 2.decreases. 3.increases. 4.stays the same. Score: 1/1 5. Which of the following statements is true? Student Response Correct Answer 1.In a world of efficiently used scarce resources, more of one good necessarily means less of some other good. 2.The law of increasing
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This note was uploaded on 12/16/2010 for the course ECON 1B03 taught by Professor Hannahholmes during the Spring '08 term at McMaster University.

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Assignment#1 - ViewAttempt1ofunlimited Title: Assignment 1...

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