ECO 203 Week 1 Quiz Answers (2018)
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ECO 203 Week 1 Quiz Answers (2018)
ECO 203 Macroeconomics Week 1 Quiz Answers (2018)
1. If left alone, a market-directed economy will
2. The economic system that responds most rapidly to changing conditions and opportunities is
3. Which of the following would be described as capital by an economist?
4. A production possibilities curve shows
5. The self-interest assumption is made by economists because
6. In a mixed economy, choices are made
7. When price changes, there is an opposite change in the
8. When economists say "consumers vote with their dollars," they mean that
9. If caviar is a normal good, a decrease in income will
10. When a firm decides to replace some workers with robots in its production process, it is making a decision about one of the basic economic questions. Which one?
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