Macroeconomics > TEST BANKS > Macroeconomics For Life Smart Choices For All 2nd Edition By Avi J. Cohen TEST BANK (All)

Macroeconomics For Life Smart Choices For All 2nd Edition By Avi J. Cohen TEST BANK

Document Content and Description Below

MACROECONOMICS FOR LIFE SMART CHOICES FOR ALL 2ND EDITION BY AVI J. COHEN TEST BANK Chapter 1-13 Chapter 1 What's in Economics for You? Scarcity, Opportunity Cost, Trade, and Models 1.1 Are Y ... ou Getting Enough? Scarcity and Choice 1) Economics is about A) making money. B) greed. C) making choices because of scarcity. D) overcoming scarcity. E) overcoming greed. Answer: C Diff: 1 Type: MC Page Ref: 4 Skill: Recall Objective: 1.1 Explain scarcity and describe why you must make smart choices among your wants. 2) Economics is about A) how individuals make the best possible choices. B) how businesses make the best possible choices. C) how governments make the best possible choices. D) how choices interact in markets. E) all of the above. Answer: E Diff: 1 Type: MC Page Ref: 4 Skill: Recall Objective: 1.1 Explain scarcity and describe why you must make smart choices among your wants. 3) Which of the following limits our ability to get everything we want? A) scarcity B) specialization C) socialism D) socialization E) time Answer: E Diff: 1 Type: MC Page Ref: 4 Skill: Applied Objective: 1.1 Explain scarcity and describe why you must make smart choices among your wants. [Show More]

Last updated: 6 months ago

Preview 1 out of 699 pages

Buy Now

Instant download

We Accept: