1-Economics involves marginal analysis because:A. most decisions involve changes from the present situation.B. marginal benefits always exceed marginal costs.C. marginal costs always exceed marginal benefits.D. much economic behavior is irrational.2-In deciding whether to study for an economics quiz or go to a movie, one is confronted by the idea(s) of:A. scarcity and opportunity costs.B. complementary economic goals.C. money and real capital.D. full production.3-Macroeconomics approaches the study of economics from the viewpoint of:A. the entire economy.B. governmental units.C. the operation of specific product and resource markets.D. individual firms.4-The problems of aggregate inflation and unemployment are:A. major topics of macroeconomics.B. major topics of microeconomics.C. not relevant to the U.S. economy.D. peculiar to command economies.5-Which of the following is a microeconomic statement?A. The real domestic output increased by 2.5 percent last year.B. Unemployment was 6.8 percent of the labor force last year.C. The price of personal computers declined last year.D. The general price level increased by 4 percent last year.6-Which of the following is a land resource?A. a farmerB. an oil drilling rigC. a machine for detecting earthquakes.D. natural gas7-The unemployment rate that many economists believe represents full employment isA. 0 percent.B. 0-4 percent.C. 4-6 percent.D. 6-8 percent.E. 8-10 percent8-The difference between GDP and NDP is theA. rate of inflation.B. statistical discrepancy encountered in calculating GDP.C. difference between real versus nominal GDP.D. depreciation of the economy's capital stock.