Economics Today

May 7th, 2015
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The economic way of thinking will help you A) make decisions in financing your home. B) decide whether the U.S. government should encourage or discourage immigration. C) make better decisions concerning your education. D) all of the above

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Economics Today,Chapter 1 The Nature of Economics1.1 The Power of Economic Analysis1) The economic way of thinking will help youA) make decisions in financing your home.B) decide whether the U.S. government should encourage or discourage immigration. C) make better decisions concerning your education.D) all of the aboveAnswer: DDiff: 1Topic: 1.1 The Power of Economic AnalysisAACSB: Analytic skillsQuestion Status: Previous Edition2) Economic analysis is usedA) only in economics classrooms.B) only by business people.C) only by policy makers.D) in all decision making.Answer: DDiff: 1Topic: 1.1 The Power of Economic AnalysisAACSB: Analytic skillsQuestion Status: Previous Edition3) Economic analysis isA) a tool that can aid all decision making.B) a tool that can be used in only macroeconomics.C) a tool that can be used in only microeconomics.D) an unnecessary complication to decision making.Answer: ADiff: 1Topic: 1.1 The Power of Economic AnalysisAACSB: Analytic skillsQuestion Status: Previous Edition4) What is the purpose of knowing "the economic way of thinking"? Answer: The economic way of thinking provides a framework for analyzing solutions to economic problems. Since economic problems confront all of us much of the time, knowledge of economics will enable one to arrive at better decisions, and enable one to evaluate many public policy questions in a systematic manner. Diff: 1Topic: 1.1 The Power of Economic AnalysisAACSB: Analyti

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