Question

CIRCLE the ONE best answer. (1.5 % each for total 60 % )
1) Which of the following issues is most likely a topic related to economics?
A) The price of crude oil
B) War in the Middle East
C) The deteriorating health of society
D) The increased number of immigrants residing in Canada
2) A knowledge of economics will help us to understand which of the following issues?
A) Government spending and the budget deficit
B) Recessions and their effects
C) The impacts of rapid increases in the price of oil
D) All of the above
3) Economics is important to individuals because it:
A) helps them make rational choices and think logically
B) will lead to greater personal wealth
C) makes them better people
D) will give them a useful degree with which they will be guaranteed employment
4) A knowledge of economics:
A) increases our understanding of social issues
B) gives people a better understanding of world affairs
C) develops logical thinking
D) all of the above

Answer 1

1) option D)

Bcoz immigrants affect labor market

2) option D)

Economics help us understanding the effects of govt spending on Budget balance , it analyses the causes & impact of recession , & how to deal it .

Also it analyses the oil price inflation

3) option A)

With help of economics, people develop rational thinking , with cost & benefit analysis

4) option D)

Economics knowledge help in understanding social & Economic issues properly

All are true