Multiple Choice
What does microeconomics study?
A) the behaviour of consumers
B) how individual households and firms make decisions
C) how government affects the economy
D) how the economy as a whole works
Correct Answer:

Verified
Correct Answer:
Verified
Q10: What do economists at the Canadian International
Q11: In the simple circular-flow diagram, in which
Q12: Figure 2-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 2-6
Q13: In economics, what does capital refer to?<br>A)
Q14: Figure 2-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 2-5
Q16: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q17: Sir Isaac Newton developed the theory of
Q18: What happens when scientists make good assumptions?<br>A)
Q19: Why are production possibilities frontiers usually bowed
Q20: What are tariffs and quotas?<br>A) policies that