Which of the adhering to is not one of the four vast categories that resources? a federal government b floor c job d resources e entrepreneurship
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The opportunity price of attending college isa the highest valued alternative one forfeits to attend college. B the money one safety on university tuition, books, and also so forth. C same to the salary one will certainly earn once one graduates indigenous college. D the the very least valued alternate one forfeits to attend college.
The greater the opportunity price of attending college,a the much more likely one individual will go to college. B the fewer business economics classes an individual will certainly take in ~ college. C the much less likely one individual will go come college. D the much more economics classes an individual will take at college.
Microeconomics is the branch of business economics that deals witha the buying side of the economy, exclusively. B human behavior and also choices together they said to relatively small devices --- one individual, a firm, one industry.c the manufacturing side the the economy, exclusively. D highly aggregated sectors or the entire economy.
Which the the adhering to is a optimistic macroeconomics statement?a The local government ought to spend an ext on entertain facilities. B Ford motor Company"s new advertising project ended increase hurting basic Motors" sales.c The boost in the nation"s money supply assisted push the nation"s unemployment price down in the quick run.d The main bank should rise the nation"s money supply.
The condition in an economy that makes a "rationing device" a need is the fact that:a the economic climate is centrally to plan by the government. B scarcity exists. C the economic climate is arranged around free markets. D there are fewer types of products than over there are human being in the economy.
Economists think that people"s desires area finite. B infinite. C irrational. D unimportant due to the fact that needs are an ext important than wants.
In every economy people vie for the economy"s rationing device, a procedure called positive economics. competition. marginal benefit. entrepreneurship.
Scarcity means wants space limited. wants are better than the minimal resources easily accessible to meet these wants. both resources are infinite and wants space limited. sources are infinite. wants are much less than the restricted resources obtainable to meet these wants.
Opportunity price is the worth of a cost-free good. every forfeited alternatives. the finest (or most highly valued) forfeited alternative. the favored alternative.
In all cases, macroeconomics transaction with the whole economy. what is. what must be. relatively small systems in the economy.
Decision do "at the margin" means making a choice based on __________ that a decision. Compare the extr benefits and also costs the total costs to compare the full benefits and costs the total benefits
At the optimal or effective level of an activity, the activity"s marginal advantage must be higher than zero. same the marginal price of the activity. exceed the marginal expense of the activity. be zero.
In economics, scarcity implies disutility. all of the choices. choice. utility. inefficiency.
Most states have instituted mandatory seatbelt legislations to mitigate traffic fatalities. An economist may point out the an unintended result of these regulations is boost in the price that automobiles, further reducing fatalities. an increase in control speed, reducing the number of accidents. a diminish in driving speed, more reducing fatalities. an increase in risky control behavior, boosting fatalities.
Which of the adhering to would no be taken into consideration a macroeconomic topic? the causes of inflation and unemployment the reason of a downturn in the economy the impact of the government spending plan deficit on inflation the reasons for a decrease in the price of crude oil oil
Which that the following statements is false? Elementary education and learning at public schools is free. there are constantly opportunity costs to do choices. because of scarcity, selections must it is in made. When government builds a brand-new highway, taxpayers end up with less of several of the points they would otherwise have.
The reason human being can"t have every little thing they want is because people are selfish. none of the other alternatives scarcity exists. there is not enough financial growth in the world.
A good provides __________ and also a bad provides __________. Dissatisfaction; satisfaction satisfaction; utility utility; pleasing utility; disutility disutility; energy
Which the the complying with statements is false? come an economist, the resource labor is composed of the physical and also mental talents world contribute to the manufacturing process. To an economist, the source land has natural resources such as minerals, forests, water and also unimproved land. To an economist, the resource entrepreneurship describes a details talent that some civilization have for arranging the resources of land, labor, and capital to produce goods, seek brand-new business opportunities, and also develop new ways of doing things. Come an economist, the resource capital is composed of unproduced goods that deserve to be rotate into created goods.
Every time you do a __________, girlfriend incur a (an) __________. Decision; mistake choice; opportunity cost competitive move; cost decision; unintended effect none of the other choices
The __________ the opportunity expense of law something, the __________ likely a person will carry out that something. Lower; an ext both lower; an ext & higher; less lower; much less higher; much less higher; an ext
The function of the ceteris paribus condition is to allow economists to determine the affect of several variables on one more variable. isolate the relationship in between two variables. isolation the affect of one variable on several variables. identify the relationship among several variables.
A concept is one abstract representation of reality. This method a theory omits details factors as soon as trying to define something. is generally expressed in expert jargon. is descriptive of the way the civilization is. nobody of the other options is an unrealistic depiction of reality.
Refer to exhibition 1-1. If the student whose study behavior are depicted here is right now studying because that the 8th hour, she should rise the number of hours she is studying because the marginal benefit of studying for the 8 hours hour is higher than the marginal expense of doing so. Cut back on the variety of hours she is studying due to the fact that the marginal advantage of studying for the 8 hours hour is less than the marginal expense of doing so. Rise the variety of hours she is studying because the marginal advantage of researching for the 8 hours hour is much less than the marginal expense of doing so. Cut ago on the variety of hours she is studying since the marginal advantage of studying for the 8th greater than the marginal expense of doing so.
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