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Principles of Macroeconomics Section 80 Fall23 fall24

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Refer to Figure 2.2. If Microland's economy is at Point B, it could produce more consumer goods

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Refer to Figure 2.1. Macroland is currently operating at Point A. The best explanation for this is that

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Refer to Figure 2.2. Point B represents a situation of

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An example of an investment is

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Refer to the information provided in Table 2.1 below to answer the following question(s).

 

                                        Table 2.1

 

Krystal

Mark

Writing Poems

8

12

Writing TV Commercials

2

4

Refer to Table 2.1. For Krystal, the opportunity cost of writing one TV commercial is

 

 

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Health insurance should be provided to every citizen in a wealthy nation such as the United States. This statement is best described as

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The principle that irrelevant detail should not be included in a model is known as

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You have decided that you want to attend a costume party as Black Panther. You estimate that it will cost $40 to assemble your costume. After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is

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Which of the following is not an opportunity cost of attending college?

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Which of the following is not one of the three fundamental concepts of economics?

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