Microeconomic chapter 1

1. Economics is a social sciences study how:

• A. Managing the business so that it is profitable.

• B. Avoid scarcity for many different usages and competition.

• C. Creating personal fortunes in the stock market.

• D. Allocation of scarce resources for various usages.

1. Which of the following statements belongs to macroeconomics:

• A. The unemployment rate in many countries is very high.

• B. The average GDP growth rate in the period of 2003-2011 in Vietnam was about 7%.

• C. Inflation rate in Vietnam is about 12% per year during 2007-2011.

• D. All three statements are correct.

Research microeconomics:

• A. Behavioral behavior of economic cells in market types.

• B. Activities taking place in the whole economy.

• C. Consumer behavior to maximize satisfaction.

• D. The overall price of a country.

Empirical economics aims to:

• A. Objectively describing and interpreting facts and economic issues with scientific grounds.

• B. Make personal comments or subjective views.

• C. Explain the conduct of economic cells in market types.

• D. There is no correct sentence.