Macroeconomics

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    It once took 90 percent of our population to grow our food.  It now takes only 3 percent of the population to grow our food. Which of the following statements is true?

    Question 2
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    In the short run, which of the following is not correct?

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Question 3

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    Adam Smith’s book The Wealth of Nations was published in

Question 4

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    Laws that restrict the smoking of cigarettes in public places are examples of government intervention that is intended to reduce

Question 5

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    Which of these activities will most likely result in an external benefit?

Question 6

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    Almost all variation in living standards is attributable to differences in countries’

Question 7

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    In communism, central planners decide which of the following?

Question 8

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    Prior to the collapse of communism, communist countries worked on the premise that economic well-being could be best attained by

Question 9

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    An increase in the overall level of prices in an economy is referred to as

Question 10

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    A friend of yours asks you why market prices are better than government-determined prices. Because you understand economic principles, you say that market-determined prices are better because they generally reflect

Question 11

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    For most students, the largest single cost of a college education is

Question 12

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    Which of the following examples does not illustrate the principle represented by the adage, “There is no such thing as a free lunch”?

Question 13

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    Trade

Question 14

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    Irregular fluctuations in economic activity are known as the

     

    Question 15
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    Suppose that the Federal Reserve Bank announces that it will be making a change to a key interest rate to increase the money supply.  This is likely because

 

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