MICROECONOMICS

MULTIPLE CHOICE

I. Choose the letter that is NOT LOGICALLY included.

*

A. industry

B. tools

C. raw materials

D. labor

*

A. economics

B. sociology

C. philosophy

D. statistics

*

A. short-run trade off

B. unemployment

C. inflation

D. improve market outcome

*

A. Economy as a whole

B. people's interaction

C. people's decision

D. people's interdependence

*

A. corporation

B. consumer

C. end-users

D. public

*

A. Belarus

B. Mauritius

C. Latvia

D. Malta

*

A. how

B. why

C. what

D. who

*

A. laissez faire

B. free market

C. intervention

D. competition

*

A. capital

B. labor

C. profit

D. business

*

A. individual units

B. aggregate output

C. small picture

D. one thing at a time

*

A. standard of living

B. production of goods

C. importation of goods

D. production of services

*

A. insatiable

B. finite

C. limited

D. scarce

*

A. market economy

B. centralized system

C. decentralized system

D. household decision

*

A. economic foundation

B. economic breakdown

C. scarce resources

D. unlimited wants

*

A. inflation

B. income

C. unemployment

D. GDP