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. Choose the one alternative that best completes the statement or answers the question. 1) Which of the followings is a macroeconomic question? A) What
. Choose the one alternative that best completes the statement or answers the question. 1) Which of the followings is a macroeconomic question? A) What are the determinants of sustained economic growth B) How many workers should the firm employ? C) How many more movie tickets will a consumer purchase if the price of popcorn and drinks decreases? D) Effect of COVID vaccines on the market for computer chips? 2) Which of the followings is a microeconomic question? A) How does the current budget deficit affect the welfare of the next generation? B) How will a lower price of textbooks affect the quantity of textbooks sold? C) Why does unemployment rate increase during the recession? D) Why did the inflation rate increase during the COVID pandemic? 3) Assume that the total benefit of cooking the first meal for Aly is 100; the total benefit of cooking the second meal is 120, and the total benefit of cooking the third meal is 125. In this case, the marginal benefit of cooking the second meal is: A) 5 B) 60 C) 120 D) 20 4) In economics, the term "land" means A) only land that is used in agricultural production. B) land, mineral resources, and nature's other bounties. C) land that is devoted to economic pursuits. D) land used for agricultural and urban purposes. 5) Tom decides to take a vacation and the road trip costs him $7,000. While he is on vacation, he does not work where he could have earned $750. In terms of dollars, the explicit cost of the vacation is A) $7,000. B) $750. C) $7,750. D) $6,250 6) Assume that turkey sausage and eggs are complements. If the price of turkey sausage rises, the deman will A) increase and the demand curve for eggs will shift leftward. B) decrease and the demand curve for turkey sausage will shift rightward. C) not change but there will be a movement along the demand curve for eggs. D) decrease and the demand curve for eggs will shift leftward
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