Ecomomics Chapter 2 review
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | economists have different values and scientific judgement.
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| In the circular-flow diagram, households and firms are decision makers. True or false? | show 🗑
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| show | TRUE
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| show | the coordinate system.
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| Points inside the production possibilities frontier represent feasible levels of production. True or false? | show 🗑
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| show | there is no way to produce more of one good without producing less of another good.
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| show | Income taxes should be reduced.
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| show | implemented tradable allowances for acid rain.
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| show | FALSE
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| The trade-off between the production of one good and the production of another good can change over time because of technological advances. True or false? | show 🗑
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| show | analyze data on workers.
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| The slope of a line is equal to | show 🗑
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| show | TRUE
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| Which would likely to be studies by a macroeconomist rather than a microeconomist? | show 🗑
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| In the simple circular-flow diagram, who consumes the goods and services that firms produce? | show 🗑
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| show | TRUE
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| show | TRUE
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| The slope of a steep upward-sloping line will be a | show 🗑
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| Assumptions can simplify the complex world and make it easier to understand. True or false? | show 🗑
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| Economists view normative statements as | show 🗑
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| show | TRUE
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| Economic models are most often composed of diagrams and equations. True or false? | show 🗑
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| show | TRUE
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| Differences in scientific judgement between economists is NOT similar to | show 🗑
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
debra473