Macro Economics considers the economy as a
Single unit
Double unit
Whole
Narrow
The satisfaction that consumers derive from consuming a good or service.
Utility
Scarcity
Budget line
Subjectivity
A very simple model that illustrates a number of economic concepts and relationships
Business Cycle
Vicious Circle of Poverty
Circular Flow
Purchasing power parity
What gives the PPC the concave shape?
Increasing marginal opportunity cost
Decreasing marginal opportunity cost
Decreasing fixed cost
Decreasing marginal cost
Macro Economics
Micro Economics
Normative Economics
Positive Economics
Which one of the following is payment to owners of capital resources?
Rent
Wage
Interest
Profit
The method used to make resource allocation and output distribution decisions
Rationing
Resource ownership
Economic decision making
Central planning
All economic goods have an opportunity cost
Greater than one
Less than one
Less than zero
Greater than zero
The question for whom to producer deals with the
Resource allocation
Reallocation of resources
Under allocation of resources
Distribution of income
Sustainable development
Economic growth
Economic development
Rural development