Econ 102 quiz 1 ALL ANSWERS 100% CORRECT SPRING FALL-2022 SOLUTION GUARANTEED GRADE A+
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Course
ECON 102 (ECON102)
Institution
American Public University
Question 1 of 10 10.0/ 10.0 Points Economics is best defined as the study of
A. financial decision-making
B. how consumers make purchasing decisions.
C. choices made by people faced with scarcity.
D. inflation, unemployment, and economic growth Answer Key: C
Question 2 of 10 10.0/ 10...
question 2 of 10 100 100 points macroeconomics differs from microeconomics in that
question 3 of 10 00 100 points gross dome
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ECON 102 (ECON102)
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Econ 102 quiz 1 ALL ANSWERS 100% CORRECT
SPRING FALL-2022 SOLUTION GUARANTEED
GRADE A+
Question 1 of 10 10.0/ 10.0 Points
Economics is best defined as the study of
A. financial decision-making
B. how consumers make purchasing decisions.
C. choices made by people faced with scarcity.
D. inflation, unemployment, and economic growth
Answer Key: C
Question 2 of 10 10.0/ 10.0 Points
Macroeconomics differs from microeconomics in that
A. macroeconomics is the study of individual markets, while microeconomics deals with the
nation's economy as a whole.
B. microeconomics is the study of individual markets, while macroeconomics deals with the
nation's economy as a whole.
C. macroeconomics focuses principally on social and political issues, while microeconomics
involves the study of a nation's monetary system.
D. microeconomics focuses principally on social and political issues, while macroeconomics
involves the study of a nation's monetary system.
Answer Key: B
Question 3 of 10 0.0/ 10.0 Points
Gross domestic product calculations count only final goods and services because
A. these are the only goods and services that are purchased in an economy.
B. counting all goods and services would lead to double-counting of many activities.
C. it is difficult to measure the prices of intermediate goods produced.
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