practice Test For Econ 2400

practice Test For Econ 2400 - Name: _ Date: _ 1. Which...

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Name: __________________________ Date: _____________ 1. Which statement below best illustrates the “art,” rather than the “science” of macroeconomics? A) Macroeconomic data provide the motivation for new macroeconomic theory. B) Macroeconomic relationships can be expressed using symbols and equations. C) Macroeconomists must determine which simplifying assumptions give misleading results. D) Graphs and charts can be used to illustrate the history of macroeconomic variables. 2. In a simple model of the supply and demand for pizza, when the price of cheese increases, the price of pizza ______ and the quantity purchased ______. A) increases; increases B) decreases; increases C) decreases; decreases D) increases; decreases 3. In a simple model of the supply and demand for pizza, when aggregate income increases, the price of pizza ______ and the quantity purchased ______. A) increases; decreases B) increases; increases C) decreases; increases D) decreases; decreases 4. When a firm sells a product out of inventory, investment expenditures ______ and
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This note was uploaded on 02/29/2012 for the course ECON 2400 taught by Professor Tasso during the Winter '09 term at York University.

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practice Test For Econ 2400 - Name: _ Date: _ 1. Which...

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