Question
Question 1 Inflation is a microeconomics topic. Question 1 options: True False Question 2 A point inside a production possibilities curve indicates which of the
Question 1
Inflation is a microeconomics topic.
Question 1 options:
True
False
Question 2
A point inside a production possibilities curve indicates which of the following
Question 2 options:
a)An efficient use of resources
b)A level of production that is unattainable
c)An inefficient use of resources
d)None of the above
Question 3
Opportunity cost is the amount of one thing you must give up in order to get more of another thing
Question 3 options:
a) True
b) False
Question 4
The supply curve for a given product indicates that price must be lowered in order to increase the quantity supplied.
Question 4 options:
a) True
b) False
Question 5
Market equilibrium can be achieved where the quantity supplied equals the quantity demanded,
Question 5 options:
a) True
b) False
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