which of the following represents positive economics? policy a is fair course hero

What is the study of how to manage corporations to generate the greatest return on shareholder investment?

What is the study of how society chooses to allocate its scarce resources?

Is there a limit on the economy's ability to satisfy unlimited wants?

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ECON Ch. 1 Study Questions, Problems, and Practice Quiz

Study with Quizlet and memorize flashcards containing terms like Explain why both nations with high living standards and nations with low living standards face the problem of scarcity. If you won $1 million in a lottery, would you escape the scarcity problem?, Explain the difference btw macroeconomics and microeconomics. Give examples of the areas of concern to each branch of economics., A ...

Solved Which of the following correctly explain why money is | Chegg.com

Which of the following correctly explain why money is not considered capital in economics? Check all that apply. a. Money is used to purchase land, labor, or capital.

What is the study of how to manage corporations to generate the greatest return on shareholder investment?

a. Economics is the study of how to manage corporations to generate the greatest return on shareholder investment.

What is the study of how society chooses to allocate its scarce resources?

d. Economics is the study of how society chooses to allocate its scarce resources.

Is there a limit on the economy's ability to satisfy unlimited wants?

c. there are no limits on the economy's ability to satisfy unlimited wants.

What happens when we increase the price of a good, reduce consumer incomes, and lower the price of substitutes?

a) If we increase the price of a good, reduce consumer incomes, and lower the price of substitutes, and if quantity demanded is observed to fall, we know that the price increase caused that decline in quantity demanded

Why do economists believe that some economic models are true?

d) Economists come to believe that some economic models are true simply because prominent leading economists say they are true

What is macroeconomics and microeconomics?

Macroeconomics applies an overview perspective to an economy by examining economywide variables such as inflation, unemployment, and growth of the economy. Microeconomics examines individual economic units, such as the market for corn, gasoline, or ostrich eggs.

What is a model in economics?

A model is defined as... Simplified description of reality used to understand the way variables work. Explain the importance of the ceteris paribus assumption for an economic model. People are complicated, and their economic choices are usually influenced by many variables.

What happens if the federal government increases government spending and the Federal Reserve Bank lowers interest rates?

b) If the federal government increases government spending, and the Federal Reserve Bank lowers interest rates, we know that the increase in government spending caused unemployment to fall

What is the study of how society chooses to allocate its scarce resources?

c) Economics is the study of how society chooses to allocate its scarce resources

What is the study of how to manage corporations to generate the greatest return on shareholder investment?

a) Economics is the study of how to manage corporations to generate the greatest return on shareholder investment

What is the study of how to manage corporations to generate the greatest return on shareholder investment?

a. Economics is the study of how to manage corporations to generate the greatest return on shareholder investment.

What is the study of how society chooses to allocate its scarce resources?

d. Economics is the study of how society chooses to allocate its scarce resources.

Is there a limit on the economy's ability to satisfy unlimited wants?

c. there are no limits on the economy's ability to satisfy unlimited wants.