which of the following questions is not a microeconomic question? oa. why is wealth unequally distributed throughout the population? b. why is the price of computers falling? o c. why does the government spend more than it collects in taxes? d. what can we do to increase the number of people attending college?

The three economic questions that every society must answer are OA. What are the prices of goods, how are they determined, and who will pay for them? OB. What economic system will be used, how will it be implemented, and who will make market decisions? OC. What goods will be produced, how will they be produced, and who will receive the goods? OD. What kind of government will the society have, how will it be run, and who will run it? Centrally planned economies allocate resources based on decisions by while market economies answer these questions through decisions made by

If someone was to conduct a study in the field of microeconomics, which of the following questions might they attempt to answer? Select the correct answer below: O What causes the economy to grow over the long term? What determines the level of economic activity in a society? What determines how many jobs are available in an economy? When will a firm decide to expand, downsize, or close?

Which of the following topics would be studied in a microeconomics course? a. how rent prices impact the supply of apartments b. how inflation will affect the total demand of a country c. how a trade agreement between the United States and Mexico affects both nations' unemployment rates d. how increases in tax rates will affect the total production of a country

What is economics most concerned with? keeping interest rates low making money allocating scarce resources to satisfy unlimited wants governments' efficient spending of tax revenues

QUESTION 1 Which of the following is an example of a microeconomic issue? O The government passes legislation that aims to improve the economy. O The unemployment rate is approximately 4%. O Aretailer decides to hire 1,000 new employees in the United States as part of its expansion program O The central bank engages in policy aimed at reducing inflation. QUESTION 2 Suppose a state aims to make it easier for people to purchase school supplies for children by exempting these purchases from sales taxes. Such programs are often called "sales tax holidays." identify which of the following would be considered an unintended consequence of this pollcy. An increase in prices by retailers expecting higher demand during the sales tax holiday. O An increase in purchanes just prior to and immediately following the sales tar holiday. O A large increase in net sales. O Asteep dedine in sales during the sales tax holiday.

sekect one answer. 1. Which of the following statements about the Affluent Society era is false? a. John Kenneth Galbraith’s, The Affluent Society, criticized the underlying structures of an economy dedicated only to increasing production and the consumption of goods. b. Galbraith’s analysis was so insightful that the title of his book has come to serve as a ready label for postwar American society c. Galbraith warned that an economy where “wants are increasingly created by the process by which they are satisfied” was unsound, unsustainable, and, ultimately, immoral. d. The contradictions of the Affluent Society defined the decade: unrivaled prosperity alongside persistent poverty, expanded opportunity alongside entrenched discrimination, and new liberating lifestyles alongside a stifling conformity. e. None of the above statements are false 2. Which of the following statements concerning the rise of the suburbs is false? a. The seeds of a suburban nation were planted in New…

Q. 1 You are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to cach of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know? a. The survey certainly overstated how much the concert was worth to each resident. b. From the standpoint of total costs and benefits, the cost of the concert certainly exceceded the benefit. c. The concert was an example of the Tragedy of the Commons. d. Residents of the town were probably free riders.

Which of the following is a question answered with normative economic reasoning? O If the college offers free textbooks for students, will more students read their textbooks? If the college provided less financial aid for out-of-state students, would more in-state students benefit? O If the college increased its enrollment requirements, would class size decline? O Should the college increase tuition to fund its athletic programs?

Check Answ on 6 of 21 Attempt 2 Thinking about scarcity in terms of the economic way of thinking, why does scarcity exist? Select the most complete explanation. Scarcity and poverty are the same thing; they are both unavoidable because poverty is relative. exists because people have unlimited wants. exists because there are limited productive resources in the world. exists because people virtually have unlimited wants and because the earth has a limited supply of land, labor, capital, and entrepreneurial ability. exists because people have limited incomes.