Multiple Choice
Governments use microeconomic models to
A) predict the impact of a policy before adopting it.
B) consider the tradeoff between clean air and a high level of GDP.
C) determine the tradeoff between equity and efficiency.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A market<br>A) always involves the personal exchange
Q2: Microeconomics can be used by governments to
Q3: Most microeconomic models assume that decision makers
Q4: Economic modeling requires<br>A) mathematics.<br>B) logic.<br>C) calculus.<br>D) trigonometry.
Q5: Legislators argue that a minimum wage law
Q7: Economic models are only useful in analyzing
Q8: Einstein was quoted saying "Everything should be
Q9: Individuals use microeconomic models to determine<br>A) their
Q10: Every economic model should include money as
Q11: Economists will use a model such as