Transcription of UNIT 1 PRACTICE EXAM - PC\|MAC
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UNIT 1 PRACTICE EXAM - PC\|MAC
unit 1 PRACTICE EXAM. 1. Economics is a social science that (A) is primarily concerned with money 5. Which of the following statements is positive? (B) is primarily concerned with how resources are (A) An economy that produces more butter than used guns is better off than an economy that (C) relies solely on the scientific method for analysis produces more guns than butter (D) is primarily concerned with maximizing spiritual (B) Nations should concentrate their resources on well-being producing wholesome consumer goods as (E) is purely normative opposed to the weapons of war (C) The production possibilities frontier is concave 2. Macroeconomics focuses on to the origin because of the law of increasing (A) government and its laws that affect commerce costs. (B) individuals and their resource use (D) Nations ought to devote at least some of their (C) corporations and their production levels resources to national defense.
UNIT 1 PRACTICE EXAM 1. Economics is a social science that (A) is primarily concerned with money (B) is primarily concerned with how resources are used (C) relies solely on the scientific method for analysis (D) is primarily concerned with maximizing spiritual well-being (E) is purely normative 2. Macroeconomics focuses on
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