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Economics Basics

Economics Basics

5 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

________ examines the behaviour of individual decision-making units, business firms and households.

  1. Micro economics
  2. Macro economics
  3. Managerial economics
  4. None of these
  5. All of these
Question 2 Multiple Choice (Single Answer)

__________________ is the use of government expenditure and revenue collection (taxation) to influence the economy.

  1. Fiscal policy
  2. Monetary policy
  3. Growth policy
  4. None of these
  5. All of the above
Question 3 Multiple Choice (Single Answer)

_______ is a period during which the aggregate output declines.

  1. Recession
  2. Inflation
  3. Deflation
  4. None of these
  5. All of the above
Question 4 Multiple Choice (Single Answer)

The three groups of decision makers in the economy are _______.

  1. households, business firms and banks
  2. households, business firms and government
  3. business firms, government, and banks
  4. business firms, banks, and foreign traders
  5. none of these
Question 5 Multiple Choice (Single Answer)

Which of the following is an example of a normative statement?

  1. Consuming alcohol is not good for health, so you should not consume it.
  2. Smoking is injurious to health.
  3. Consuming tobacco leads to cancer and you will get sick if you consume tobacco.
  4. If any person use these goods, they will get sick, example: consuming alcohol.
  5. None of these
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