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Questions and Answers
Which of the following questions is a macroeconomic issue? (Select all that apply)
Which of the following questions is a macroeconomic issue? (Select all that apply)
- How many workers should the owner of a business hire?
- What is the future growth prospect for an economy? (correct)
- What effect would a cure for Mad Cow Disease have on the market for beef? (correct)
- How many more pounds of cookies will a consumer purchase if the price of cookies decreases?
We can use macroeconomic analysis to (Select all that apply)
We can use macroeconomic analysis to (Select all that apply)
- Understand marginal changes in the macroeconomy (correct)
- Study the choices made by households
- Understand why economies grow (correct)
- Learn how to balance a checkbook
Which of the following is an example of a normative question?
Which of the following is an example of a normative question?
- Should the government intervene in the economy? (correct)
- What is the inflation rate?
- How do interest rates affect savings?
- What is the unemployment rate?
Study Notes
Examination Details
- Course: BSc Software Engineering
- Subject: CSSE - 312: Economic Fundamentals
- Credit Hours: 3
- Duration: 1 Hour
Examination Instructions
- Answer all questions
- Circle the correct answer
Macroeconomic Issues
- Macroeconomics studies aggregate economic phenomena
- Questions about effects on entire markets or economic growth are macroeconomic
- Example macroeconomic question: "What is the future growth prospect for an economy?"
Uses of Macroeconomic Analysis
- Helps in understanding broad economic trends rather than individual choices
- Can explain factors influencing economic growth
- Not typically used for personal finance decisions, like checkbook balancing
Normative Questions in Economics
- Normative economics involves value judgments about what should be
- Example scenario for a normative question could relate to ethical implications or desirability of economic policies
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Description
Test your understanding of economic fundamentals in this mid-term examination for the BSC Software Engineering program. This quiz covers key macroeconomic issues and concepts relevant to the course CSSE-312.
