Ch.1 - ECON 201

Ch.1 - ECON 201

University

12 Qs

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Ch.1 - ECON 201

Ch.1 - ECON 201

Assessment

Quiz

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12 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The branch of economics that examines the functioning of individual industries and the behavior of individual decision-making units is

positive economics.

normative economics.

macroeconomics.

microeconomics.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Studying how Joshua allocates his time between school and video games is an example of

macroeconomics.

microeconomics.

industrial organization.

descriptive economics.

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Better insurance benefits increase the incentive of some individuals to work. This statement is best described as

a positive statement.

an example of the ceteris paribus assumption

a normative statement.

a comparative economics statement.

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The government should extend the duration of unemployment benefits to those workers who lost their jobs due to outsourcing. This statement is best described as

an example of marginalism.

an example of the fallacy of composition.

a normative statement.

a positive statement.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A measure that can change from observation to observation is known as a(n)

empirical measure.

model.

causality.

variable.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A formal statement of a theory is known as a(n)

model.

positive statement.

empirical measure.

causal statement.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Resources are unlimited in a wealthy society.

True

False

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