Economics Quiz 02 Preparation Online

1. Productive efficiency occurs when an economy cannot produce _____ of one good without producing _____ of another good.

 

2. Fiscal policy consists of government’s ?

 

3. The three fundamental economic problems of what, how, and for whom are solved by ?

 

4. The concept of invisible hand in the organization of supply and demand in a well-functioning market mechanism refers to the ?

 

5. The maximum quantity of goods that can be efficiently produced by an economy using its scarce resources and available technology is called ?

 

6. The three fundamental economic problems every human society must confront and resolve are ?

 

7. Which economic term is used to measure the overall performance of an economy?

 

8. When we assume that what is true for the part is also true for the whole, we are committing ?

 

9. When one event occurred before another event, the fallacy in economic reasoning that the first event caused the second event is called ?

 

10. The increase in economic integration among nations is termed as ?