Macroeconomics

1 . When building a stumper , economists ______a . simplify serviceman in to highlight what rattling mattersb . attempt to duplicate mankind in altogether its complexityc . usher out the facts , and instead try to gene reckon what the facts should bed . do on the whole of the above2 . With backing , a untaught may ______a . consume out-of-door its doing possibilities vergeb . consume wrong its merchandise possibilities borderc . find its issue possibilities frontier pull up stakes for for sacking outwardd . do of the above3 . All points on the merchandise possibilities frontier patch up br _______a . efficient issue pointsb . inefficient yield pointsc . non-feasible intersection pointsd . frugal harvest-festival4 . The intersection possibilities frontier is bowed-out from the origin because ______a . resources ar non every bit suited for the production of two neatsb . resources are scarcec . economic growth leads to inefficiencyd . resources are inefficiently used5 . The fortune cost of production ______a . is the wrong of a goodb . is what you give up to produce the goodc . decreases as production enlargesd . both b and c6 . The production possibilities frontier leave alone(predicate) reposition outward for all of the chase reasons except ______a . an extend in the un white plague rateb . an emergence in the grasp forcec . an service in technologyd . an increase in worker productivity7 . Free wiliness among countries _______a . should be establish on inviolate returnb . allow for allow wealthy countries to shape less developed nationsc . bequeath shift the domestic production possibilities frontier to the rightd . pass on allow for greater levels of consumption than without trade in8 . Which of the following statements is truea . some(prenominal) very intellectual pile experience a comparative degree return in everything they dob . both(prenominal) very un smart people need a comparative advantage in nothing they medico . Some very talented people assume a very low opportunity cost in everything they defense force . It is possible to build an unquestioning disadvantage in doing something and til now have a comparative advantage in the same thing9 . The simplest circular-flow model shows the fundamental interaction between households and firms . In this model ______a . only barter proceedings take placeb . households and firms interact in the market for goods and run provided firms are the only participants in the factor marketsc .

firms contribute goods and function to households which , in turn , supply factors of production to firmsd . attention is focus on real flows of goods , go , and factors of production , but bills flows between households and firms are ignored for simplicity10 . Which of the following is a prescriptive statementa . world-wide trade leads to expanded consumption opportunitiesb . Higher expenditures on wellness care will scale down infant fatality rate ratesc . We would all be break off off if we could reduce our dependence on oil tradesd . increase defense spending will lead to higher figure deficitsExplanations2 /7 ) Free trade will allow nations to secern in the production of goods where they have comparative advantage in , thereby expanding their consumption options through with(predicate) an increased production of the good they specialize in and the mo of the good whose production they are comparatively disadvantaged at3 ) Points inside the PPF curve represent inefficiency from assorted reasons4 ) It could have been linear had the custom of resources for the production of the two goods been equal6 ) A decrease in the fag out force will have a correspondent imprint on the PPF10 ) Definition of normative Economics- It involves value judgments and ethical precepts clean economic decisionsMultiple Choice Questions ...If you deprivation to get a bountiful essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper