PLEASE, ONLY AN EXPERT IN MACRO ECOMONICS ANSWER THESE QUESTIONS PREFERRED A 5 STAR TUTOR. DO NOT ANSWERE IF YOU ARE NOT AN EXPERT.

4. Carlo discovers when he studies for his macroeconomics tests at the bar, he earns better grades. He advises all students to study at the bar for similar results. Carlo is guilty of committing

a. Ceteris paribus

b. Fallacy of correlation and causation

c. Fallacy of post hoc, ergo propter hoc (post hoc fallacy)

d. The fallacy of composition

7. Because the nation N is operating at a point inside its PPF, it

a. Must cut output of one good to increase the production of another

b. Will be unable to experience economic growth

c. Has full employment

d. Has unemployed or inefficiently employed resources

14. Consumers expect their income to rise. For a normal good, this would result in an increase in

a. Demand and a fall in price

b. Quantity demanded and a fall in price

c. Demand and a rise in price

d. Quantity demanded and a rise in price

16. If the market is in equilibrium, a technological improvement will cause price to ___ and quantity demanded to ___

a. Fall ; fall

b. Rise ; rise

c. Fall ; rise

d. Rise ; fall

22. "Lower ticket prices would lead to more people attending ball games." This statement is

a. A ceteris paribus assertion

b. A normative statement

c. A macroeconomic statement

d. A positive statement

26. If a country is operating at a point of production efficiency

a. It must specialize in the production of a good

b. It enjoys growth when increasing production

c. It cannot be producing at its point of comparative advantage

d. It produces on its production possibility frontier curve

27. To help unscramble cause and effect, economists

a. Answer the "what, how and for whom" questions

b. Use the concept of opportunity cost

c. Answer the "why" question

d. Must use the ceteris paribus assumption

28. Consider the market for turkeys. In the US, because of Thanksgiving in the month of November

a. There is an upward movement along the supply curve for turkeys

b. There is a downward movement along the demand curve for turkeys

c. The supply curve of turkeys shifts leftward

d. The demand curve for turkeys shifts leftward

29. An efficient market is a market

a. In which the profits are always very high and persistent

b. In which opportunity costs are zero

c. In which profit opportunities are eliminated almost instantaneously

d. That is always in equilibrium

34. The concept of opportunity cost is based on the principally of

a. Profit

b. Consumption

c. Scarcity

d. Need

35. Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris paribus,

a. The price of both apples and oranges will fall

b. The price of oranges will fall and the price of apples will increase

c. The price of oranges will increase and the price of apples will fall

d. The price of both apples and oranges will increase