Multiple Choice Questions

The aim of the study of macroeconomics is to examine
  • the behavior of factors affecting the economy.
  • households and firms
  • the exchange of goods and services for money
  • microeconomics
Which best describes what occurs in the product market?
  • the exchange of goods and services for money
  • the behavior of factors affecting the economy.
  • households and firms
  • Prices are set.
In microeconomics, what occurs when equilibrium is reached?
  • models.
  • households and firms
  • Prices are set.
  • microeconomics
This is a graph showing price and total output in the short and long run.According to this graph, how does supply behave in the short run and long run?
  • microeconomics
  • Output reacts differently.
  • Output remains constant.
  • households and firms
The circular flow model examines interactions between which two groups?
  • Prices are set.
  • Output remains constant.
  • households and firms
  • microeconomics
This is a graph showing price and total output in the short and long run.According to this graph, how does supply behave in the long run?
  • households and firms
  • Output reacts differently.
  • Output remains constant.
  • microeconomics
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Multiple Choice Questions
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