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6 Cards in this Set

  • Front
  • Back
Which of the following can overcome the problem of scarcity?

A. Technology
B. Education
C. Democracy
D. None of the above: Scarcity is present in all societies
Which of the following is the best example of a renewable resource?
A. Forest
B. Diamonds
C. Coal
D. Natural Gas
which of the following would be classified as a captial resource?
A. The money in your checking account
B. A caterpillar bulldozer
C. Oil
D. 100 shares of general motors
The most fundamental concepts underlying the discipline of economics are
A. scarcity and choice
B. supply and demand
C. money, stocks, and bonds
D. inflation and unemployment
The branch of economic that focuses on economy wide variables like inflation and unemployment is called
A. free-market economics
B. mircoeconomics
C. Macroemonmics
D. aggregate
An economic model us useful only if it
A. contains no postive statements
B. Captures all the complexties of reality
C. yields accurate predictions
D. has both macro and mirco applications
need answer