Microeconomics

Front

In a recent article it was suggested that a new machine designed to pick strawberries in Florida could be faster and less expensive than human strawberry pickers. This is an example of what?

Back

All of these

Front

"The unemployment rate is 4.2%" is a what?

Back

Positive statement

Front

Chris eats lunch at a local restaurant by herself every day. One day friends offer to pay for Chris’s lunch if Chris join them uptown. In this case Chris’s lunch is costless. True or false?

Back

False, Chris must give up having lunch by themself

Front

What is economics?

Back

The study of the allocation of limited resources across unlimited wants

Front

Computers are capital. True or false?

Back

None of these are correct

Front

Which of the following is an example of land? Fish in the ocean, A dirt road, A dam on a river, All of these, None of these

Back

Fish in the ocean

Front

Farmer Avery and Farmer Brown have farms right next to one another. One raises wheat and the other raises dairy cows. This is an example of what?

Back

Comparative advantage

Front

The PPC can shift out...

Back

tomorrow if we increase the amount of resources produced today

Front

Money is a resource. True or false?

Back

False

Front

Changes in technology will...

Back

shift the PPF