Which of the following questions is NOT a microeconomic question? OA. Why is the unemployment rate falling? OB. Why do athletes earn more than checkout clerks? O C. Why are the fish stocks in the Atlantic ocean being depleted? O D. Why are libraries funded by the government?

Only questions 2 a-d It’s either positive or normative

1. Opportunity Cost: Suppose you'd be willing to pay 10$ to take a nap on Friday evening. You could instead go see a movie with a friend, tickets cost 10$ but you'd be willing to pay 20$ to see the movie. a. What would be the opportunity cost of taking a nap instead of going to a concert? 2. For each of the following scenarios: Does the demand curve or supply curve shift? which direction? Describe what happens to the market price and total number of goods traded in the market. a. The market for coffee ground is wildfires burn up much of the coffee crop in northern South America MacBook Pro

K Tory and Patty produce skis and snowboards. The tables show their production possibilities. Each week, Tony produces 4 snowboards and 8 skis and Patty produces 15 snowboards and 30 skis. Tony and Patty decide to specialize and trade. If Tony and Patty specialize and trade, what are the gains from trade? specializes in snowboards and produces OA Tony, 20 snowboards OB Tony, 4 snowboards OC. Patty; 15 snowboards OD. Patty: 30 snowboards OE Tony; 60 snowboards specializes in skis and produces CETTE OA. Patty; 60 skis OB. Patty, 30 skis OC. Tony: 8 skis OD. Tony, 10 skis OE. Patty: 20 skis By specializing and trading, total output Tony's Production Possibilities Snowboards (per week) Patty's Production Possibilities 20 16 12 B 4 0 Snowboards (per week) 30 15 0 and and and and and and and and and Skis (per week) 0 2 4 6 8 10 Skis (per week) 0 30 60

. Which of the following is a normative statement: a. Women’s labor force participation (LFP) increased substantially in the latter half of the 20th century b. Women with children shouldn’t go to work c.   Age at first marriage has been increasing since 1970 d.   The increase in women’s LFP was caused by the decline in marriage e.   Age at first marriage and women’s LFP are positively correlated..

The basic economic argument is that humans face the big problem of __________. That big problem means we have to choose what we do with our resources. Economists believe that improving ___________ will help use those resources to satisfy the most wants possible.    Group of answer choices a. scarcity; efficiency b. efficiency; scarcity c. wants; resources d. resources; wants

3. Is each of the following statements positive or normative? If the statement is positive, write a normative statement about the same topic. If the statement is normative, write a positive statement about the same topic. a.)  For-profit prisons have led to a higher incarceration rate in the United States. b.)  The Washington Commanders should have chosen a cooler mascot. c.)  The use of human subjects in experiments should be subject to less oversight. d.)  If the U.S. privatized Social Security, it would reduce government deficits in the long run. e.)  Students should not be required to take exams.

QUESTION 22 When we study economics the objective is to learn:     A.   how to allocate unlimited resources to satisfy unlimited wants         B.   how to allocate unlimited resources to satisfy limited uses         C.   how to allocate limited resources to satisfy unlimited wants       D.   how to allocate limited resources to satisfy limited wants

N.B : IT IS NOT AN EXAM

What is part of the opportunity cost of borrowing a textbook from the library instead of buying it, when I am already a member of the library? a. The annual fee for library membership. b. The wage I could have earned in the time I visited the library. c. It has no opportunity cost if I have a subscription for the channel. d. The price of the book.