Macro Economics :: essays papers

large Economics1.Developing a model of an economy means reply the question(s) ofa.what to produce.b.how to produce.c.for whom to produce.d.what to produce, how to produce and for whom to produce.e.Only what to produce and how to produce, since distribution is not the task of economics.2.every year during the holidays there seems to be a great bring for rough particular hot toy. This is an example of the effect of _________ on demand.a.tastes and preferencesb.expectationsc.incomed. charges of other goodse. wealthiness3.A market is in equilibrium when there isa. overmuch demand.b.excess supply.c.a shortage.d.a surplus.e. no(prenominal) of the higher up.4.The equilibrium bill in a market could remain unchanged if there were a/an _________ in demand offset by a/an ________ in supply.a.increase, minifyb.increase, increasec.decrease, decreased. None of the above.5. Which of the following is microeconomics? a. A study of national output harvest-home in Japan. b. A study of IBM sales since 1995. c. A study of Irish employment levels. d. A study of unemployment in Sweden. e. None of the above endure be considered microeconomics.6.Which of the following would NOT cause the demand for a figure good or service to decrease?a.An increase in the price of the product.b.The income available to the household decreases.c.Other goods which are good substitutes become available.d.Households acquire negative expectations about future income, wealth and prices.e.None of the above. All of the above would cause a decrease in demand.7.Refer to Figure 4.1. Which gameboard best depicts the following situation I do not steal Cola Cola at the supermarket because another brand is on sale.a. board 1b.panel 5c.panel 6d.panel 7 e. panel 88.If there were an increase in the price of hamburger,a.the quantity demanded of hamburger would decrease.b.the demand for catsup would decrease.c.the demand for hamburger rolls would decreas e.d.All of the above.e.None of the above.9. The conventional bowed-out shape of the production possibilities curve implies a. producers are unable to put on specialized resources efficiently. b. shifting production from one good to another leads to increase opportunity costs. c.