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-return Economics is similar to the science of Economics is described as an inexact--- Accountants and economists disagree on the inclusion of - 4. The
-return Economics is similar to the science of Economics is described as an inexact--- Accountants and economists disagree on the inclusion of - 4. The marginal unit is considered the -- 5. Economics is a -- --- unit? 6. -- science? Consumer demand is 7. Micro economics utilizes -- thinking? 8. Macroeconomics utilizes - thinking? 9. The two component groups studied by microeconomics is consumers and 10. Decision makers are assumed to make - decisions based upon incentives? 11. Most business decisions are made in the environment of - 12. A successful economic theory -- --- future economic changes? 13. The formula for slope of the line is the change in - - over change in -- --? 14. The PPF curve illustrates that a nation's production capacity is - - in the short run? 15. A movement along the PPF outer surface illustrates - - of resources? 16. The PPF outer surface is concave because resources are for each other? 17. Shifting the PPF right is made possible by the discovery of new resources or 18. Comparative cost advantage in trade encourages nations to in production? 19. Whenever the slope is positive, the relationship is - - between the two variables? 20. The word comparative means - cost advantage in production? CHOICES A. Social W. Imperfect isubstitutes B. Relative X. Production methods C. Psychology Y. Specialize D. Science Z. Direct E. Opportunity costs F. Last additional G. Infinite H. Positive 1. Businesses J. Rational K. Math L. Abundant M. Labor costs N. Irrational O. Normative P. Uncertainty Q. Predicts R. Y, X S. Limited T. Reallocation
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