Q. #9 MULTIPLE CHOICE. Circle the correct answer to each question.

1. Economic growth and environmental sustainability are examples of

a)complementary economic goals

b)conflicting economic goals

c)contradictory economic goals

d)unattainable economic goals

2. In an economic model, as x increase, y decreases. Which of the following is true

a)x and y are inversely related

b)x and y are directly related

c)x and y are dependently related

d)x and y are independently related

3.In order to achieve unattainable outputs, an economy could

a)increase immigration

b)invest in machinery

c)find more efficient ways to produce

d)all of the above

4.The statement: if income rises, prices will also rise is an example of

a)normative economics

b)positive economics

c)proportional economics

d)neoclassical economics

5. A point inside the PPC curve is an indication of

a)unemployed resources

b)misallocation of resources

c)both a) and b)

d)none of the above

6. Which system is often referred to as capitalism?

a)market

b)traditional

c)command

d)mixed

7. Entrepreneurship is part of which scarce economic resource

a)human

b)natural

c)financial

d)

capital

7. Which scarce economic resource has an interest as compensation?

a)capital

b)financial

c)natural

d) human

8. Entrepreneurship is part of which scarce economic resource

a)human

b)natural

c)financial

d)capital