Economics Honors Exam 2009 Solutions: Macroeconomics.
Use the following information to answer questions 5 to 7. Brazil produces ethanol from sugar, and the land used to grow sugar cane used to grow food crops. Suppose that Brazil’s production possibilities for ethanol and food crops are as in the table.
This is suitable for year 10 students and can be used to assess year 11 economics students preparing for IGCSE. It contains paper 1 (Objective questions) and paper 2 (Theory questions) and also has a mark scheme. This exam question paper covers the first two sections of the IGCSE syllabus.
Study Questions (with Answers) Page 1 of 5 Study Questions (with Answers) Lecture 15 International Macroeconomics Part 1: Multiple Choice Select the best answer of those given. 1. If the aggregate supply and demand curves in the figure at the right describe the situation in an economy at some point in time, we would expect to see a. Output at.
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Definition: Define a key word in the question Definition: Define either another key word in the question (if there is another one) or a related key word Definition: Define either another key word in the question (if there is another one) or a related key word Real life example: Briefly explain a real life example. Two sentences maximum; you’ll keep link back to this later in the essay.
Macroeconomics: Study of groups and broad aggregates of the economy. Firm: An individual producing unit. Industry: A group of firms producing identical or closely related goods. The term microeconomics and macroeconomics were first given by Ragner Frisch in 1933. Prof. J.M. Keynes is known as father of modern macroeconomics.