Question 1

Which of the following is a macroeconomic issue?

Accepted Answer

A)  the purchasing decisions that an individual consumer makes 
B)  the effect of increasing the money supply on inflation 
C)  the hiring decisions that a business makes 
D)  the effect of an increase in the tax on cigarettes on cigarette sales 
A)  the purchasing decisions that an individual consumer makes 
B)  the effect of increasing the money supply on inflation 
C)  the hiring decisions that a business makes 
D)  the effect of an increase in the tax on cigarettes on cigarette sales

Question 2

The fact that a rock star earns $5 million a year while a teacher earns $45,000 annually is most directly an example of an economy answering the ________ part of one of the two big economic questions.

Accepted Answer

A)  "when" 
B)  "for whom" 
C)  "how" 
D)  "why" 
A)  "when" 
B)  "for whom" 
C)  "how" 
D)  "why"

Question 3

Explain what entrepreneurship is and why it is considered a factor of production.

Accepted Answer

Entrepreneurship is the resource (the pe

Which of the following is a macroeconomic issue?

The fact that a rock star earns $5 million a year while a teacher earns $45,000 annually is most directly an example of an economy answering the ________ part of one of the two big economic questions.

Explain what entrepreneurship is and why it is considered a factor of production.

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 1: What Is Economics

Which of the following is a macroeconomic issue?

The fact that a rock star earns $5 million a year while a teacher earns $45,000 annually is most directly an example of an economy answering the ________ part of one of the two big economic questions.

Explain what entrepreneurship is and why it is considered a factor of production.

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters