Econ 1.4 Quiz

Which of the following is a branch of economics?

• Microbiology

• Microeconomics

• Microphysics

• Microchemistry

Which branch of economics deals with individual and business decisions?

• Macroeconomics

• Microeconomics

• Geoeconomics

• Bioeconomics

Which of the following is NOT a focus of economics?

• Resource allocation

• Trade-offs

• Space travel

• Economic branches

Normative economics can be described as:

• Objective

• Data-driven

• Opinion-based

• Factual

Which type of economics would involve testing a hypothesis?

• Normative economics

• Positive economics

• Ethical economics

• Theoretical economics

What do charts and tables reveal in information?

• Patterns and trends

• Random facts

• Unrelated details

• Personal opinions

Which graph type is not mentioned in the text?

• Line graph

• Bar graph

• Pie chart

• Scatter plot

In what forms can economic models be expressed?

• Only in words

• Only in graphs

• Words, graphs, or equations

• Only in equations

Who is known as the Father of Economics?

• Karl Marx

• John Maynard Keynes

• Adam Smith

• David Ricardo

What book did Adam Smith write in 1776?

• The General Theory of Employment, Interest, and Money

• Das Kapital

• The Wealth of Nations

• Principles of Political Economy