are only counted as a resource if used in the production of other resources. include only skilled labor. include both physical and mental activities. Correct! Correct! include human effort involved in the production of goods, but not services. 1.25 / 1.25 pts Question 33 Policies to create jobs in the nation are the concern of: macroeconomics. Correct! Correct! microeconomics. both microeconomics and macroeconomics. neither microeconomics nor macroeconomics. 1.25 / 1.25 pts Question 34
The branch of economics that focuses on decision making for the economy as a whole is called: normative economics. macroeconomics. Correct! Correct! microeconomics. consumer economics. 1.25 / 1.25 pts Question 35 The finite nature of the economy's resource base: will be solved if only we would learn to conserve. is only a problem in developing countries. will be solved as technology advances. will always be with us. Correct! Correct! 1.25 / 1.25 pts Question 36 Economists believe that scarcity forces everyone to: satisfy all their wants. abandon consumer sovereignty. lie about their wants. create unlimited resources. make choices. Correct! Correct!
1.25 / 1.25 pts Question 37 Which of the following is the best example of an activity that would be undertaken by an entrepreneur? Buying and selling of stocks and bonds. Starting a new business. Correct! Correct! Working on an assembly line. Running for political office. 1.25 / 1.25 pts Question 38 An entrepreneur is: an employee in a factory. the manager of a factory. the person who conceives and starts a business. Correct! the person who contracts to work for a specific price. the person who does not assume any risk in business. 1.25 / 1.25 pts Question 39 The basic difference between macroeconomics and microeconomics is: microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.
microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms. microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy. Correct! Correct! microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment. 1.25 / 1.25 pts Question 40 Complete the following analogy: A criminal is to a police artist's sketch as the economy is to: money. an economic model. Correct! Correct! a resource. Ceteris paribus . scarcity. Quiz Score: 47.5 out of 50