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Unformatted text preview: Each of the following would be considered a macroeconomic topic except- The selection of production techniques- The cause of recessions - The effect of the government budget deficit on inflation- The reasons for a decreases in unemployment rate- The determination of aggregate income The problem of scarcity exists- In all economies- Only in economies that have incentives- Only in economies that lack incentives- Only when people are unemployed - Now but will be eliminated with economic growth Which one of the following is an example of capital- A bread slicing machine- Pasture- A university professor- Money- A carpenter Self-interest choices are- Never in the social interest- Always in the social interest - Choices that are agreed to by majority rule- Those choices which are brst for the person making them- Those choices that are best for all residences of a region “there can be too much of a good thing”, this statement suggests that - A good may be produced to the point where its marginal benefit exceeds its...
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- Summer '11
- Economics, budget deficit, bus service