ECO 450 Week 5 Mid Term Exam

ECO 450 Week 5 Mid Term Exam Download This midterm exam consist of 35 multiple choice questions and covers the material in Chapters 1 through 7. There are five questions from each Chapter. Question 1: If the economy is operating at full employment and using... More

ECO 450 Week 5 Mid Term Exam Download This midterm exam consist of 35 multiple choice questions and covers the material in Chapters 1 through 7. There are five questions from each Chapter. Question 1: If the economy is operating at full employment and using resources efficiently, then an increase in spending for homeland security this year will: Question 2 Following the circular flow of a mixed economy, firms receive a flow of dollars from and send goods and services to: Question 3 In 2008, which country listed below has the highest percentage of government spending relative to GDP? Question 4 Federal government expenditures in the United States account for about: Question 5 A mixed economy is one in which: Question 6 The extra benefit on one more unit of a good or service is its: Question 7 Normative economics is: Question 8 Diamonds are sold by a monopoly firm that maximizes profits. Then it follows that: Question 9 Positive economics: Question 10 If the efficient output of a good is Less