The branch of economics which studies the behavior of entire economies is

The branch of economics which studies the behavior of

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8) The branch of economics which studies the behavior of entire economies is called A) public economics.B) microeconomics.C) macroeconomics.D) normative economics.Answer: CDiff: 1 Page Ref: 16Topic: Macroeconomics*: RecurringLearning Outcome: Macro-1: Define macroeconomics and identify its basic concernsAACSB: Analytic thinking9) When Mr. Peabody decides on the companies to which he will donate his time and money, a ________ issue is being addressed.A) microeconomicB) macroeconomicC) positive economicD) normative economicAnswer: ADiff: 1 Page Ref: 15Topic: Microeconomics*: RecurringLearning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economistAACSB: Analytic thinking10) Which of the following is a microeconomics question?A) Why do economies experience periods of recession?B) Will government intervention lower the unemployment rate?C) Why has growth in the economy slowed down over the past decade?D) How will Apple decide on a selling price for the iPad?Answer: DDiff: 1 Page Ref: 15Topic: Microeconomics*: RecurringLearning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economistAACSB: Analytic thinking
11) The branch of economics which studies how households and firms make choices, interact in markets and how government attempts to influence their choices is calledA) macroeconomics.B) microeconomics.C) positive economics.D) normative economics.Answer: BDiff: 1 Page Ref: 15Topic: Microeconomics*: RecurringLearning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economistAACSB: Analytic thinking12) Which of the following is a macroeconomics question?A) What determines the unemployment rate?B) How is the production quantity of digital cameras determined?C) What factors determine the price of iPhones?D) What determines the wages and benefits of flight attendants?Answer: ADiff: 1 Page Ref: 16Topic: Macroeconomics*: RecurringLearning Outcome: Macro-1: Define macroeconomics and identify its basic concernsAACSB: Analytic thinking13) The branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called A) public economics.B) microeconomics.C) macroeconomics.D) normative economics.Answer: CDiff: 1 Page Ref: 16Topic: Macroeconomics*: RecurringLearning Outcome: Macro-1: Define macroeconomics and identify its basic concernsAACSB: Analytic thinking

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