A.   Fewer options that require choices

B.   Deflation

C.   The production of unlimited goods and services

D.   Poverty and unequal distribution of wealth

A.   The utilization of economic resources by consumers when engaging in consumption

B.   The utilization of economic resources by producers when engaging in production

C.   The satisfaction or pleasure obtained from producing a good or service

D.   The satisfaction or pleasure obtained from consuming a good or service

A.   by examining only marginal costs

B.   when the marginal benefit is greater than the marginal cost

C.   when opportunity costs are greater than marginal benefits

D.   by examining only marginal benefits

A.   Assuming other things are equal. Assuming factors other than those being considered in a particular analysis do not change

B.   Assuming factors other than those being considered in a particular analysis do not change. Assuming additional factors, other than those under consideration, are given equal consideration

C.   Assuming additional factors, other than those under consideration, play a significant role in analysis. Assuming additional factors, other than those under consideration, are given equal consideration

D.   Assuming additional factors, other than those under consideration, play a significant role in analysis. Assuming other things are equal

A.   The level of public debt, The expenditures of a government entity, and Unemployment and inflation rates

B.   Measuring the price of specific goods, The level of public debt and Unemployment and inflation rates

C.   The expenditures of a government entity, Measuring total revenues of a firm, and Measuring the price of specific goods

D.   The level of public debt and Unemployment and inflation rates

A.   Macroeconomics

B.   Microeconomics

A.   Scarce

B.   Insatiable

C.   Physical

D.   Tangible

A.   margin

B.   necessity

C.   accessibility

D.   utility

A.   A comparison of marginal benefits and marginal costs for each good considered

B.   The available supply of each good considered

C.   A decision between attainable and unattainable combinations of the goods under consideration

D.   An evaluation of the unlimited resources used in the production of each good considered

A.   Macroeconomics

B.   Microeconomics

C.   Positive economics

D.   Negative economics

A.   Macroeconomics

B.   Normative economics

C.   Positive economics

D.   Microeconomics

A.   avoids; scientific; actual

B.   encourages; scientific; actual

C.   avoids; normative; actual

D.   encourages; scientific; potential

E.   encourages; normative; potential

A.   by examining only marginal benefits

B.   when opportunity costs are greater than marginal benefits

C.   by examining only marginal costs

D.   when the marginal benefit is greater than the marginal cost

A.   True

B.   False

A.   ceteris paribus

B.   the economizing problem

C.   the utility problem

D.   a hypothesis

A.   Income

B.   Transfers

C.   Taxes

D.   Spending

A.   virtually unlimited wants

B.   virtually unlimited income

C.   extremely limited desires

D.   few unsatisfied wants

A.   budget

B.   expectation

C.   normal

D.   desire

A.   economic growth

B.   scarce economic resources

C.   unlimited economic resources

D.   insatiable wants

A.   A curve showing various combinations of two products a consumer can purchase with a specific amount of income.

B.   A schedule showing various combinations of three or more products a consumer can purchase at different prices.

C.   A curve showing various combinations of three or more products a consumer can purchase at different prices.

D.   A curve showing various combinations of two products an economy can produce with a specific amount of resources.