PART At Multiple-choice question: 39 marks (1.5 marks per question) Answer ALL, questions. 1. What is fallacy of composition? A. It explains cause-effect relationship in the real world. ". If what is true for a member of a group or society, then it is true for the group of society as a whole C. It describes correlation in economic variables, D. It is an assumption behind an economic theory. 2. Which of the followings is NOT an example of positive statement? A. Crude oil price has reached $80 a barrel due to worldwide economic recovery. B. Government needs to keep petrol price stable because of extreme price fluctuations, C. Greenhouse effect compels many countries to move from nonrenewable energy resources to renewable energy resources. D. Rising carbon pollution will bring serious consequences on global economy 3. What is the meaning of "there is no free lunch" in economics? A. It means people need to work to pay for his or her meal B. It means government failed to provide basic goods for the society C. It means there is a price tag on all goods and services D. it means one usually needs to sacrifice something in order to obtain another thing. 4 How Covid- 19 vaccinated rate affect economic activities in Malaysia: A. Both Covid-19 vaccinated rate and economic activities are positively related - a higher vaccinated rate allows greater economic activities. B. Economic activities rarely have any relationship with the rate of vaccination. C Vaccinated rate is inversely related to national economic growth. D. Vaccinated rate only afters healthowe servor only but not economy in general. A. Quantity command and price are money retired B When price defines road tome will shereese, the corresponding quantity demand will appear Drammont imposed Ste property gain tax on high end property, we can predict I will shif lett and price of property will decrease ill shift right and price will decrease. hand will shit left and less quantity available for sale in the market. ut quantity supply will expand