Hore wor provis e the leal tentS for the ny (nd Sho w oxidatiol state of unctiohal group. RxnS (a? T-Mobile ? 100% 10:39 AM a elearn.monroecollege.edu I. Multiple choice questions (30 of them will be...

Hore wor provis e the leal tentS for the ny (nd Sho w oxidatiol state of unctiohal group. RxnS (a? T-Mobile ? 100% 10:39 AM a elearn.monroecollege.edu I. Multiple choice questions (30 of them will be chosen for the test) 50 pts 1. Which of the following is not a criterion for judging the result of an economic policy a. Stability c. Efficiency d. Equity 2. Economics is the study of how a. Scarce resources are used to satisfy unlimited wants b. Human choose to use unlimited resources c. Limitless resources are used to satisfy scarce wants d. Society has no choices 3. The opportunity cost of choice X can be defined as a. The cheapest alternative to choice X b. The most highly valued alternative to choice X c. The price paid to obtain X d. The most highly price alternative to choice X 4. Carlo discovers when he studies for his macroeconomics tests at the bar, he earns better grades. He advises all students to study at the bar for similar results. Carlo is guilty of committing a. The fallacy of composition b. Fallacy of post hoc, ergo propter hoc c. Fallacy of correlation and causation d. Ceteris paribus 5. Households are a. Suppliers in the input market b. Demanders in the labor market c. Suppliers in the product markets d. Demanders in the input market 6. The price of Good C increases and as a result, the demand for good D increases. The two goods are a. Complement b. Substitutes c. Normal d. inferion 7. Because the nation N is operating at a point inside its PPF, it a. Has full employment b. Has unemployed or inefficiently employed resources c. Must cut output of one good to increase the production of another d. Will be unable to experience economic growth?