Saint Leo University - ECO 209

Question1)Macroeconomics is best defined by which of the following statements?

Question 2.

One major assumption of economics is that people         .

Question 3.

Normative economics is______                .

Question 4.

The saying that "There's no such thing as a free lunch" illustrates the economic concept of           .

Question 5.

A bowed Production Possibilities Curve (PPC) indicates

                .

Question 6.

Generally, if a nation produces more consumer goods than capital goods              .