pie-Makro praktikum 1

CHAPTER 1
TEN PRINCIPLES OF ECONOMICS AND THINKING LIKE ECONOMIST

FILL IN THE BLANK
1. The management of society‟s resources is important because resources are _____ The _____ means that society has less to offer than people wish to have.
2. _____ means that society is getting the most it can form its scarce resources _____ means that the benefit of those resources are distributed fairly among society‟s members.
3. _____ the quantity of goods and services produced from each hour of a worker‟s time.
4. Inflation is an _____ in the overall level of prices in the economy
5. _____ a situation in which a market left on its own fails to allocate resources efficiently.
6. Another of the Ten Principle of Economics is that the cost of something is what you give up to get it. This is called the_____.
7. The first principle of economics is that _____ Use a production possibilities frontier to illustrate society‟s _____ between a clean environment and high incomes
8. _____ statements claim that attempt to prescribe how the world should be.
9. A visual model of the economy that show dollars _____ through market among household and firm is called circular-flow diagram
10. In a market for the factors of production, households act as _____ and firm act as _____.


TRUE-FALSE
1. Policies aimed at achieving a more equal distribution of economic well-being.some of these policies, such as the welfare system or employment insurance.
2. The opportunity cost of an item is what you give up to get that item.
3. People respond to incentives. When the price of an apple rises, for instance, people decide to eat more pears and fewer apples. Because the cost of buying an apple is higher.
4. Inflation is decrease in the overall level of prices in the economy.
5. Efficiency refers to the size of the economic pie ,and equity refers to how pie divided
6. A rational decision maker takes an action if and only if marginal benefit of the action exceeds the marginal cost.
7. Productivity is the quantity of goods and services produced from each hour of worker‟s time.
8. These are examples of market failures. They are market power, externality, property right, and asymmetric information.
9. ‟‟The government should not subsidize agricultural product any more‟‟ is the positive statement.
10. Governments can sometimes Improve Market Outcomes.


MULTIPLE CHOICES
1. The property of distributing economic prosperity fairly among the member s of society……
a. equity
b. efficiency
c. opportunity cost
d. marginal cost
2. The principle of Economics that states the cost of something is what you give up to get it. This is called the…
a. effectiveness
b. productivity
c. opportunity cost
d. Trade off
3. The government should raise the minimum wage ……
a. positive statements
b. normative statements
c. fiscal statement
d. monetary statements
4. Fluctuations in economic activity, such as employment and production …
a. productivity
b. circular-flow
c. market economy
d. Business cycle

5. Inflation leads to a …………… quantity produced and hiring ……workers to produce those goods and services
a. lower , more
b. higher , more
c. lower , less
d. higher , less
6. When the quantity of money …………….. the overall level of prices in economy tend to……..
a. decrease, increase
b. decrease, decrease
c. increase, decrease
d. increase, increase
7. Which one is the positive statement from these statement below
a. The federal reserve should reduce the rate of growth of money
b. Society ought to require welfare recipients to look for jobs.
c. A reduction in the rate of growth of money will reduce in the rate of inflation
d. The nation should trade their commodities to other nation.
8. Households and firms interact into two types of markets, there are…….
a. market for commodity
b. market for capital
c. market for factor of production
d. market for the money
9. The impact of one person‟s action on the wellbeing of a bystander is called….
a. Market failure
b. Externality
c. market power
d. Property Right
10. An increase in the overall level of prices in the economy is called….
a. inflation
b. deflation
c. revaluation
d. devaluation

ESSAY
1. List and briefly explain the four principles of individual decision making!
2. What is Philips curve? Explain and draw it!
3. What are ‟‟efficiency‟‟ and „‟equity‟‟ and what do they have to do with government policy?
4. What are differences between positive and normative statement? can you explain about it!
5. What does the „‟invisible hand „‟ of the market place do?
6. List and briefly explain the three principles of the economy as a whole works!
7. Can you explain about positive statement and normative statement from these statements below!
a. The government should increase the minimum wage
b. The nation should trade their commodities to other nations
c. International trade makes better off every nation whose involve in
d. The government should not involve in economic activity to reach efficiency.
8. Graph and explain the circular flow diagram!
9. Explain the definition of inflation, and what causes it?
10. Give explanation for every point show in the graph below! Is it possible to produce efficiently in every point in PPF curve.

bagi yang susulan, kerjakan semua soal di atas.