{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

113 review questions copy - Economics 113 Introduction to...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Economics 113 Introduction to Economics for Policy Analysis Review Questions Topic 1 1. Economics A. is the study of markets B. is the study of resource allocation choices C. is the study of government behaviour D. none of the above 2. Resource allocation choices involve trade-offs because A. all such choices are made through market-based trades B. resources can always be augmented through trade C. resources are scarce D. bad decisions create scarcity 3. Positive economic analysis A. is the study of how resources are allocated B. is the study of how resources should be allocated C. is purely descriptive and therefore not relevant to policy design D. is based on the premise that resource scarcity will eventually be eliminated 4. Normative economic analysis A. is the study of how resources are allocated B. is the study of how resources should be allocated C. is synonymous with political science D. is more objective than positive analysis 5. Good policy design
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2 6. Microeconomics 7. Macroeconomics 8. Economic analysis is the only correct basis for public policy design A. because economics is an objective science B. because history has demonstrated the superiority of markets over other resource allocation systems C. because it is based only on hard facts D. none of the above 9. The study of markets is central to economic analysis because 10. Gross Domestic Product (GDP)
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern