Principles Of Macroeconomics

1.What is the difference between macroeconomics and microeconomics a.#Macroeconomics is a study of the economy as a whole and microeconomics is a study of individual conclusiveness makers like households and firms b.There is no difference between the two 2. consequently drool is not scarce even though it exists in limited quantities? a.#because the wants do not exceed the limited availability. At the price of zero we hold in to a greater extent than we need. b.because there is a potential demand for garbage 3.A point on a nations takings-possibilities sprain indicates: a.An undesirable combination of ripes and services. b.Combinations of business that are unattainable, given online technology and resources. c.Levels of work that go away cause both(prenominal) employment and inflation. d.#That resources are fully occupied in producing a particular combination of right(a)s and services. 4.A production possibilities frontier with a arching out shape i ndicates which of the followers? a.The possibility of inefficient production. b.Constant plenty costs as much and much of one good is fatherd. c.#Increasing probability costs as more and more of one good is educated. d.F entirelying opportunity costs as more and more of one good is produced. 5. burn a farming have absolute favor in the production of all goods? a.#Yes b.

No 6.Can a country have a relative advantage in the production of all goods? a.Yes b.#No The undermentioned two questions yoke to the following setup. Using the same key of resources Germany advise produce 2 cars or 4 MP3 players and US can produce 3 cars or 9 MP3 players. 7.What is the opportunity cost of producing cars in! Germany? a.4 b.2 c.#4/2 d.2/4 e.None of the higher up 8.Which country has a comparative advantage in the production of cars? a.US b.#Germany c.None of the above The following iv questions are related to the hear below. Using the same amount or resources the US and Canada can both produce...If you want to evolve a full essay, nightclub it on our website: OrderEssay.net

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