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When we are forced to make choices we are facing the concept of:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
A period of falling real gross domestic product is an indicator of a(n):
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
The basic concern of economics is:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
An increase in efficiency means that an economy has:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
An expansion is a period in which:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
Which of the following is most likely a macroeconomic question rather than a microeconomic question?
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
When an economy experiences a contraction in its business cycle, this is often:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
If the production possibility curve were a straight line sloping down from left to right, this would suggest that:
output rises.
made some people better off without making others worse off.
recession.
scarcity.
to study the choices people make.
“Is the national unemployment rate rising or falling?”
the opportunity costs of the products are constant.
considered to be a recession.
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