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1.Which of the following defines economics?Economics is the social science that studies

By March 4, 2022No Comments

1.Which of the following defines economics?Economics is the social science that studiesA.the best way of eliminating money is created and usedC.the inevitable conflict between self-interest and the social interestD.the choices made to cope with scarcity,how incentives influence thosechoices,and how the choices are coordinated2.Of the three big questions,what,how,and for whom,which of the following is an example of ahow question?A.Why do we use machines rather than migrant workers to pick grapes?B.Why don’t we produce more small cars and fewer gas guzzlers?C.Why do doctors and lawyers earn high incomes?D.Why do college football coaches earn more than professors?3.Which of the following describes the reason why scarcity exists?A.Governments make bad economic decisions.B.The gap between the rich and the poor is too wide.C.Wants exceed the resources available to satisfy them.D.There is too much unemployment.4.A rational choice isA.what you are willing to forgo to get somethingB.made by comparing marginal benefit and marginal costC.the best thing you must forgo to get somethingD.the best for society5.*Every week,Kate plays tennis for two hours,and her grade on each math test is 70 percent.Lastweek,after playing for two hours,Kate decided to play for another hour and cut her study timeby one hour.Last week,her math grade fell to 60 percent.Kate’s opportunity cost of the thirdhour of tennis extra hour of tennisB.her 60 percent math hour of study timeD.the ten-percentage point drop in her math grade



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