Which of the following products would be least capable of producing an externality ?
A. inoculations against disease
B. cigarettes
C. food
D. education
E. stereo equipment
High and persistent inflation is caused by ?
A. unions increasing wages too much
B. OPEC raising the price of oil too much
C. governments increasing the quantity of money
D. regulations raising the cost of production
Economics is the study of ?
A. Production technology
B. Consumption decisions
C. how society decides what how and for whom to produce
D. the best way to run society
A market can accurately be described as ______?
A. a place to buy things
B. a place to sell things
C. the process by which prices adjust to reconcile the allocation of resources
D. a place where buyers and sellers meet
In the mixed economy _______?
A. economics problems are solved by the government and market
B. economic decisions are made by the private sector
C. economic allocation is achieved by the invisible hand
D. economics s is solved by government
Macroeconomics is the study of ?
A. individual building blocks in the economy
B. the relationship between different sectors
C. household purchase decisions
D. The economy as a whole
Time series data show information ?
A. about the same point in time
B. about different points in time over the same variable
C. about different variables o
D. about different points in time
A real value can be derived from a nominal value by ?
A. adjusting for changes over time
B. adjusting for data collection errors
C. adjusting for population changes
D. adjusting or changes in prices
A straight-line diagram can be drawn knowing the _____ and _____?
A. vertical axis and horizontal axis
B. intercept and slope
C. scale and slope
D. intercept and scale
If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?
A. a nonlinear relationship
B. a positive linear relationship
C. a scatter diagrams
D. a negative linear relationship
