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Test Bank for Macroeconomics, 3rd Edition by Dean Karlan $29.49   Add to cart
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Test Bank for Macroeconomics, 3rd Edition by Dean Karlan
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  • Macroeconomics
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  • Macroeconomics

Test Bank for Macroeconomics, 3rd Edition 3e by Dean Karlan and Jonathan Morduch. ISBN-13: 1160 Full Chapters test bank included Chapter 1: Economicsand Life Chapter 2: Specializationand Exchange Chapter 3: Markets Chapter 4: Elasticity Chapter 5: Efficiency Chapter 6: Governmen...

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  • May 14, 2023
  • 933
  • 2022/2023
  • Exam (elaborations)
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  • Macroeconomics
  • Macroeconomics

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Chapter 01 3e
1) The principles of economics can explain which of the following?
1.Why people choose to work or go to college
2.Why a country might prosper
3.How the value of money changes over time

A) II and III only
B) I and II only
C) III only
D) I, II, and III




2) Who makes decisions about how to allocate resources?

A) Individuals
B) Businesses
C) Governments
D) All of these make decisions about resource allocation.




3) Which of the following statements best describes the study of economics?

A) Economics studies how the Federal Reserve handles fluctuation in business cycles.
B) Economics studies how individuals and groups manage scarce resources.
C) Economics studies how people maximize returns in the stock market.
D) Economics studies how governments determine appropriate tax rates.




4) Alan could apply the principles of economic decision making when deciding:

1.how to spend his paycheck.
2.who to marry.
3.what to have for dinner after a long day at work.




1

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