Economic Fundamentals CSSE-312 Mid-Term Quiz
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Questions and Answers

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)

  • 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?

  • 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.

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