Macroeconomics concern - Study guides, Class notes & Summaries

TEST BANK for Macroeconomics in Modules, 3rd Edition by Paul Krugman, Robin Wells. All Chapters (Complete download). 1248 Pages Test Bank for Macroeconomics in Modules, 3e Paul Krugman, Robin Wells (All Chapters) Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources ar...

WGU D089: Module 1 Questions and Answers Graded A What are the three fundamental questions every economy must answer? Give an example of a "What" question. What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? Thinking about the next step or an additional action means for a person. Accordin...

Econ 211 Exam 1 Already Verified A+ 1. Because of scarcity: Why do we face trade-offs in almost every decision we make? - A. Choices are unlimited - B. We face trade-offs in nearly every choice we make ️ - C. Wants are limited - D. Resources are limitless --- 2. What is the primary issue related to scarcity? What is the main concern when addressing the imbalance between unlimited wants and limited resources? - A. Ensuring critical resources like oil and forests are not depleted - B. ...

Business management 101 chapter 1-7 Questions and Answers 100% Pass Business - Answer- any activity that seeks to provide goods and services to others while operating at a profit. Entrepreneur - Answer- a person who risks time and money to start and manage a business Goods - Answer- tangible products such as computers, food, clothing, cars services - Answer- intangible products, such as education, health care, insurance, recreation, and travel and tourism. revenue - Answer- the total am...

Question 1 10 / 10 points The branch of economics that examines the impact of choices on aggregates in the economy is: Question options: positive economics. normative economics. macroeconomics. microeconomics. Question 2 10 / 10 points When we are forced to make choices we are facing the concept of: Question options: ceteris paribus. free goods. scarcity. the margin. Question 3 10 / 10 points An economic system is the set of rules that define _______ and _______ . Question op...

Question 1 10 / 10 points The branch of economics that examines the impact of choices on aggregates in the economy is: Question options: positive economics. normative economics. macroeconomics. microeconomics. Question 2 10 / 10 points When we are forced to make choices we are facing the concept of: Question options: ceteris paribus. free goods. scarcity. the margin. Question 3 10 / 10 points An economic system is the set of rules that define _______ and _______ . Question options: resources; pr...

ECON 101 STUDY EXAM REVIEWS WITH CORRECT ANSWERS an incentive - CORRECT ANSWER-could be either a reward or a penalty scarcity exists because - CORRECT ANSWER-our wants exceed the resources available to satisfy them Economics is best defined as the study of how people, businesses, governments, and societies - CORRECT ANSWER-make choices to cope with scarcity Micro economics is the study of - CORRECT ANSWER-the choices that individuals and businesses make People must make choices ...

Question 1 10 / 10 points The branch of economics that examines the impact of choices on aggregates in the economy is: Question options: positive economics. normative economics. macroeconomics. microeconomics. Question 2 10 / 10 points When we are forced to make choices we are facing the concept of: Question options: ceteris paribus. free goods. scarcity. the margin. Question 3 10 / 10 points An economic system is the set of rules that define _______ and _______ . Question options: resources; pr...

TLI 152 Week 1 - 8 Quizzes | Questions and Answers The global economic trend has been for ________ countries to move toward ________. Capitalist; socialism The way in which a country's resources are utilized to produce goods and services and the way those goods and services are distributed among those who desire to have them depends upon the Economic system under which the country operates. What is the term for the periodic rises and falls that occur in economies over time? Business Cycles Wh...

Macroeconomics - A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole Microeconomics - A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms Scarcity - The basic economic problem; the gap between limited, scarce , resources and theoretically limitless wants Opportunity cost - The next b...