Microeconomic

Multiple Choice Questions 1. When economists say that people act rationally in their self-interest, they mean that individuals:  A. look for and pursue opportunities to increase their have got personal utility. B. generally disregard the interests of others. C.  be mainly creatures of habit. D. are usually impulsive and unpredictable. 2. The resume of scotchs is primarily interested with:  A. keeping private businesses from losing money. B. demonstrating that capitalistic economies are superior to collective economies. C.  pickaxs that are made in seeking the best employment of resources. D. determining the most equitable distribution of societys output. 3. If somebody produced too much of a good, this would suggest that:  A. rational choice bathroomnot be applied to many economic decisions. B. the good was produced to the turn on where its marginal cost exceeded its marginal benefit. C. certain goods and services much(prenominal) as education and health care are inherently desirable and should be produced regardless of costs and benefits. D. the good was produced to the transmit where its marginal benefit exceeded its marginal cost. 4. Which of the following most close relates to the idea of opportunity costs?  A. tradeoffs. B. economic growth. C. technological change. D. capitalism. 5.

 Macro economic science can best be described as the:  A. analysis of how a consumer tries to spend income. B. study of the large aggregates of the thriftiness or the economy as a whole. C. analysis of how firms attempt to maximize their profits. D. study of how supply and demand determine prices in individual markets. 6. Microeconomics:  A. is the nates for the after this, therefore because of this fallacy. B. is not concerned with details, but provided with the overall big picture of the economy. C. is concerned with individual economic units and specific markets. D. describes the aggregate flows of output and income. 7. The basic problem of economics is one of deciding how to make... If you want to get a climb essay, order it on our website: Orderessay

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