Economics Final

Which of the following is not a tangible object?

• a house
• a computer
• friendship

Which of the following is a rationing device

• demand
• opportunity
• price

The economic way of thinking involves

• fortune-telling
• analyzing

The two major economic systems are capitalism and

• totalitarianism
• two/party
• mercantilism
• socialism

The resource "land" includes all of the natural_________ found in nature.

Economists never think about the future.

• False
• True

The study of choice as it applies to the big picture is macroeconomics.

• False
• True

There is no such thing as a global economy.

• False
• True

Economic "colds" are often contagious. Describe what would happen to other countries if the United States were to "catch" an economic cold?

Give an example of macroeconomics