500 Must-Know AP Microeconomics/Macroeconomics Questions

Author:Brian Reddington
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2012-06-05T16:00:00+00:00

PART 2

Macroeconomics

CHAPTER 5

Basic Economic Concepts

1. The study of macroeconomics refers to

(A) the part of economics that deals with large-scale economic concepts, like interest rates and gross national product

(B) the part of economics that deals with how individuals and business firms allocate scarce resources

(C) economic theory that stresses costs of production and small-business scale decisions

(D) the difference between normative and positive economics

(E) all of the above

Refer to the following graph to answer question 2.

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