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UNIT 1 Macroeconomics SAMPLE QUESTIONS MULTIPLE …

SAMPLE MULTIPLE -Choice QuestionsAdvanced Placement Economics Macroeconomics : Student Activities National Council on Economic Education, New York, the letter of each correct The crucial problem of economics is(A) establishing a fair tax system.(B) providing social goods and services.(C) developing a price mechanism that reflectsthe relative scarcities of products andresources.(D) allocating scarce productive resources tosatisfy wants.(E) enacting a set of laws that protectsresources from When one decision is made, the next best alter-native not selected is called(A) economic resource.

additional unit of product A is (A) all of the human and capital resources used to produce product A. (B) the retail price paid for product A. (C) the wholesale price of product A. (D)the amount of product B that cannot now be produced because of product A. (E) the profit that was earned from producing product A. 18.

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