Homework Answers
Ans) the correct option is regroups the activity of all households, firms and government in a country.
Macroeconomics is a branch of economics that dealis with the performance and decision-making of an economy as a whole
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Question 8 The macroeconomy primarily studies government economic policies. O regroups the activity of all households,...
Choose the BEST answer. An example of a macroeconomy is when it O focuses on firms...
Choose the BEST answer. An example of a macroeconomy is when it O focuses on firms and the production of goods and services Oregroups the activity of all households, frms and government in a country O primarily studies government economic polices. bo
question 1 and 5 8 je Circular Flow of Economic Activity Worksheet 1. Which of the...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
Retained earnings are the part of income that households retain after paying taxes. business retain after...
Retained earnings are the part of income that households retain after paying taxes. business retain after paying taxes. corporations do not pay to their owners in the form of dividends. corporations pay to their owners in the form of dividends. UNIT-1 & UNIT-2 MCQS MARKS : 1.0 GDP is a good but not perfect measure of economic well-being because it leaves out each of the following EXCEPT the quality of the environment. leisure. medical services. volunteer work. UNIT-1 & UNIT-2...
which of the following is not a question addressed by macroeconomists H e p in some...
which of the following is not a question addressed by
macroeconomists
H e p in some years and contract in Wes! 2. Gross domestic product measures a. income and expenditures. b. income but not expenditures. c. expenditures but not income. d. neither income nor expenditures. 3. Because every transaction has a buyer and a seller, a. GDP is more closely associated with an economy's income than it is with an economy's expenditure. b. every transaction contributes equally to an economy's...
Please classify each policy according to whether it tends to foster or inhibit economic growth Policies...
Please classify each policy according to whether it tends to foster or inhibit economic growth Policies that tend to foster economic growth Policies that tend to inhibit economic growth Answer Bank establishing a stable national government that promotes the rule of law and sets clear expectations for business behavior clearly defining and enforcing property rights that extend to all members of society creating a public infrastructure, including communication, education, medical services, sanitation, and transportation facilities establishing trade barriers to protect...
Select all the positive economic questions Select all the correct responses If the population increases by...
Select all the positive economic questions Select all the correct responses If the population increases by 5%, then food production will need to increase by 12% in order to avoid food scacity. All people in the world have a right to food, therefore the government should pay for food for poor people. o when a 5% tax is applied on all goods and services, then peoples income will decrease in value by 5%. The government should apply a 5% tax...
QUESTION 2 (20 Marks) Match the economic concepts given in COLUMN A with its description in...
QUESTION 2 (20 Marks) Match the economic concepts given in COLUMN A with its description in COLUMN B. Write down the question number and the correct letter next to it. E.g. 2.11 A COLUMNA 2.1 Firms 2.2 Goods market 2.3 Households 2.4 Factor markets 2.5 Government 2.6 Capital transfer account COLUMNB The difference between receipts and payments on goods and services Passes on factors of production from one market to another This is determined in free markets by the law...
SECTION A [40 MARKS] Answer ALL questions in this section. QUESTION 1 (20 Marks) Choose the...
SECTION A [40 MARKS] Answer ALL questions in this section. QUESTION 1 (20 Marks) Choose the most appropriate answer. Write down numbers 1.1 to 1.10 in your answer book and next to each number write the letter that represents the correct answer. E.g. 1.11 a 1.1 Which one of the following statements is incorrect? a) b) c) The three major flows in the economy are total production, total income and total spending There are two sets of markets in a...
1) Households are vital to the circular flow model in what two ways? They export goods...
1) Households are vital to the circular flow model in what two ways? They export goods and services and import goods and services. They supply factors of production and purchase goods and services. They vote for political officers and pay taxes. They facilitate exchange between consumers and firms. 2) Scarcity requires that we: change our fiscal policy until the situation of scarcity is eliminated. make decisions in order to arrange our resources rationally. adopt economic policies that will lead to...
The general level of interest rates is influenced primarily by Question 8 options: Federal Reserve policy...
The general level of interest rates is influenced primarily by Question 8 options: Federal Reserve policy Federal budgetary policy The level of economic activity All of the above
Choose the BEST answer. An example of a macroeconomy is when it O focuses on firms and the production of goods and services Oregroups the activity of all households, frms and government in a country O primarily studies government economic polices. bo
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
which of the following is not a question addressed by
macroeconomists
H e p in some years and contract in Wes! 2. Gross domestic product measures a. income and expenditures. b. income but not expenditures. c. expenditures but not income. d. neither income nor expenditures. 3. Because every transaction has a buyer and a seller, a. GDP is more closely associated with an economy's income than it is with an economy's expenditure. b. every transaction contributes equally to an economy's...
Please classify each policy according to whether it tends to foster or inhibit economic growth Policies that tend to foster economic growth Policies that tend to inhibit economic growth Answer Bank establishing a stable national government that promotes the rule of law and sets clear expectations for business behavior clearly defining and enforcing property rights that extend to all members of society creating a public infrastructure, including communication, education, medical services, sanitation, and transportation facilities establishing trade barriers to protect...
Select all the positive economic questions Select all the correct responses If the population increases by 5%, then food production will need to increase by 12% in order to avoid food scacity. All people in the world have a right to food, therefore the government should pay for food for poor people. o when a 5% tax is applied on all goods and services, then peoples income will decrease in value by 5%. The government should apply a 5% tax...
QUESTION 2 (20 Marks) Match the economic concepts given in COLUMN A with its description in COLUMN B. Write down the question number and the correct letter next to it. E.g. 2.11 A COLUMNA 2.1 Firms 2.2 Goods market 2.3 Households 2.4 Factor markets 2.5 Government 2.6 Capital transfer account COLUMNB The difference between receipts and payments on goods and services Passes on factors of production from one market to another This is determined in free markets by the law...
SECTION A [40 MARKS] Answer ALL questions in this section. QUESTION 1 (20 Marks) Choose the most appropriate answer. Write down numbers 1.1 to 1.10 in your answer book and next to each number write the letter that represents the correct answer. E.g. 1.11 a 1.1 Which one of the following statements is incorrect? a) b) c) The three major flows in the economy are total production, total income and total spending There are two sets of markets in a...
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