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MULTICHOICE
1. Which of the following is the study of how a society uses scarce resources to produce and
distribute goods and services?
(A) finance
(B) acculturation
(C) economics
(D) marketing
Answer : (C)
2. In Canada, which of the following two items work together to guide the economy?
Answer : (C)
Answer : (A)
4. Which of the following is the study of the economy as a whole, looking at aggregate data
for large groups of people, companies, or products?
(D) macroeconomics
Answer : (D)
5. A manager in the life insurance industry examining the national level of personal income,
the unemployment rate, interest rates, inflation, and death statistics would be looking at
which of her company's environments?
(A) microeconomic
(B) macroeconomic
(D) competitive
Answer : (B)
Answer : (B)
Answer : (D)
8. The GMC manager who evaluates truck models made by his competition, consumer
demand for different sizes of trucks, labour and material costs to build trucks, and current
prices of all trucks would be taking which of the following perspectives?
(A) microeconomics
(D) macroeconomics
Answer : (A)
9. The agricultural sector in Guatemala accounts for about one-quarter of the nation's GDP,
two-thirds of its exports, and half of its labour force. This type of information would be
revealed through which perspective?
(D) microeconomics
Answer : (D)
10. An individual who is thinking of buying a Wendy's franchise in London, Ontario, and is
examining the employment statistics, area income levels, and local competition would be
interested in which of the following fields?
(B) macroeconomics
(D) microeconomics
Answer : (D)
(C) entrepreneurship
Answer : (C)
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Language: English