Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which is a macroeconomic topic? A. An increase in the price of gasoline B. The monthly expenditure of a typical urban household on entertainment C. A hike in the wage rate of workers in a textile factory in a state D. The annual growth rate of an economy Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which characteristic is associated with a traditional economy? A. Trade is heavily dependent on bartering rather than money B. Privately owned goods and services are standard C. The government decides how to distribute capital resources D. Prices and production are driven by competition Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link How is the study of microeconomics different from that of macroeconomics? A. Microeconomics studies the actions of individual markets and households within an economy, while macroeconomics studies the whole economy B. Microeconomics focuses on the actions of consumers and households, whereas macroeconomics focuses on the actions of business firms C. Microeconomics analyzes economic facts and events, whereas macroeconomics analyzes normative judgments and decisions D. Microeconomics focuses on domestic economic issues, whereas macroeconomics focuses on international economic issues Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which question would be studied by a macroeconomist? A. What percentage of an individual's consumer income is spent on medicine? B. What is the market price of corn? C. Can a tax on alcohol reduce the number of fatalities on freeways? D. What is the impact of a constitutional amendment on the federal budget? Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which term describes the acquisition of skills resulting from education or experience? A. Productivity B. Tools C. Financial capital D. Human capital Submit Answer