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Ashford
Principles of microeconomics
week 1
ECO 203 Week 1 Quiz

ECO 203 Week 1 Quiz

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ECO 203 Week 1 Quiz 4 1.         Question :       If an individual's income increases, then the demand for a normal good will  2.        Question :       An example of investment, as defined in economics, is  3.        Question :       All but which one of the following could shift the demand curve?  4.        Question :       When a firm decides to replace some workers with robots in its production process, it is making a decision about one of the basic economic questions. Which one?  5.        Question :       When price changes, one should expect a change in  6.        Question :       Demand relates the various amounts that consumers are willing to buy over a specified time period  7.        Question :       When the government redistributes income, it is answering a basic economic question. Which one?  8.        Question :       Self-interested behavior and incentives are  9.        Question :       Which of the following would be described as capital by an economist?  10.         Question :           When price changes, there is an opposite change in the

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