2 Macroeconomics approaches the study of economics from the

2) Macroeconomics approaches the study of economics from the viewpoint of A) the operation of specific product and resource markets. B) individual firms. C) the entire economy. D) governmental units.

4) Which of the following is a capital resource? A) a corporate bond issued by a computer manufacturer B) silicon (sand) used to make computer chips C) a computer programmer D) a piece of software used by a firm

5) The basic truth that underlies the study of economics is the fact that we all face A) risk.B) death. C) scarcity. D) taxes.

7) The opportunity cost to a consumer who smokes cigarettes consists of the A) costs imposed on others who inhale second-hand smoke. B) amount of cigarette taxes paid by this consumer. C) products that the consumer could have bought instead of cigarettes. D) cost of complementary products such as lighters, ashtrays, and cigarette holders.

Solution

Ans 2)

Mcroeconomics is collective study of indivudial units to examine the economy Hence option C is correct response

Ans 4)

Bonds issued by issuer is form of capital resource hence option A is correct response

Ans 5)

Scarcity Option C

Ans 7)

OPtion C is correct response