Unit 1 Test Review

Mason's decision to open his own restaurant is a ______ decision.

Who won last year's GT v. UGA football game?

Which of the following is a service:

The resources used to produce goods and services are called:

In our class, PPC stands for:

Which point on this graph is inefficient?

The price of football games goes up by $2.00 to cover the expenses of all the police needed,

What illustrates the tradeoff between two options?

To move from point E to point D, the farmer gives up:

Who is this?

You babysit for 3 hours for $5/hour instead of Netflixing a movie. Your Opportunity Cost is?

The study of the allocation of scarce resources.

ALL of the things you give up when you make a choice:

In which panel can Point 'N' not be produced?

Marginal means:

Point D is

You pay rent for:

The opportunity cost of moving from point A to point B is:

This graph shows

A rational decision is when:

If farmer Bob decides to produce only tractors, bread is his:

Gas cost _______ the year Ms. Peacock was born.

Curved PPCs show that:

In which panel is point 'Q' efficient?

Which words would be of most interest to a Macroeconomist?

Advertising is considered:

True or False: All households face the problem of scarcity.

Which of the following could have caused the change depicted in the graph?

Who would have the highest opportunity cost for attending college?

Gets paid profit: