Unit 1 Macro Test review
Authored by Callie Porcher
Social Studies
12th Grade
Used 51+ times
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35 questions
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1.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Who are the agents in the economy?
Firms
Households
Government
Production
2.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
Who are the producers in the economy?
(a)
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The diagram represents a
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What factor could have caused the demand to decrease?
incomes increased
expectation that prices will increase
an decrease in the price of a substitute
increase in market size
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the law of demand say
consumers will buy less of something when price goes down.
consumers will buy more of something when price increases.
consumers will buy more of something when prices go down.
None of the above.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the price of a good or service decreases what will happen to the demand for it?
increase
decrease
stay the same
who knows
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