Mankiw, Principles of Economics Ch 2
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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circular-flow diagram | a visual model of the economy that shows how dollars flow through markets among households and firms
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macroeconomics | the study of economy-wide phenomena, including inflation, unemployment, and economic growth
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microeconomics | the study of how households and firms make decisions and how they interact in markets
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normative statements | claims that attempt to prescribe how the world should be
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positive statements | claims that attempt to describe the world as it is
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production possibilities frontier | production possibilities frontier
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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.
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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