Title: Examen Economía global y local (global and local economy)

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Arrastre las palabras a los cuadros correctos

Q: Complete the sentences with the following words: Leading, demand, supply, equilibrium, economic indicators, willingness to pay.

a) [...] refers to an indicator that shows how the good or service is valued by the consumer, measured by the maximum amount that he, she or it would pay for acquiring a simple unit.
b) [...] is a basic economic term and is known as the “consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service”.
c) The law of [...] states that as the price increases of a good or service, the number of suppliers offered will increase, and vice versa.
d) [...] measure the economy.
e) The [...] point is where the supply and demand curves intersect.
f) There are two main types of economic indicators: leading and lagging. [...] indicators show where the economy is heading and lagging indicators show how the economy worked in the past and its effects.
A: willingness to pay; Demand; supply; Economic indicators; equilibrium; Leading
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Nowadays, is econometrics considered a subfield of economy?

Q: Nowadays, is econometrics considered a subfield of economy?
A: true

The subfield of microeconomics that seeks to apply statistical and mathematical methods to economic analysis is called econometrics?

Q: The subfield of microeconomics that seeks to apply statistical and mathematical methods to economic analysis is called econometrics?
A: true

Which economic subfield is the big picture of economics, which is concerned with how the overall economy works. For example, topics like employment, gross domestic product, inflation, currencies, monetary politics, or national income.

Q: Which economic subfield is the big picture of economics, which is concerned with how the overall economy works. For example, topics like employment, gross domestic product, inflation, currencies, monetary politics, or national income.
- Microeconomics
- Macroeconomics (correct)
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On the other hand, which is the economic subfield that represents the little picture of economics, that is concerned with topics like supply and demand of a sector of the economy, such as the automotive sector or the energetic sector?

Q: On the other hand, which is the economic subfield that represents the little picture of economics, that is concerned with topics like supply and demand of a sector of the economy, such as the automotive sector or the energetic sector?
- Microeconomics (correct)
- Macroeconomics
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The consumer will use the good or service to satisfy his or her needs with higher priority in the first acquisitions, and with less relevance in the later ones because of:

Q: The consumer will use the good or service to satisfy his or her needs with higher priority in the first acquisitions, and with less relevance in the later ones because of:
- Diminishing marginal utility (correct)
- Law of supply
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Using the law of demand, we can assume that:

Q: Using the law of demand, we can assume that:
- ↑   Price   →     -     Quantity demanded (correct)
- ↓   Price   →     +    Quantity demanded
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Point where the supply and demand curves intersect:

Q: Point where the supply and demand curves intersect:
- Net quantity demanded
- Equilibrium Point (correct)
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Gross domestic product. (GDP) and real GDP, unemployment rate and consumer price index (CPI) are examples of:

Q: Gross domestic product. (GDP) and real GDP,  unemployment rate and consumer price index (CPI) are examples of:
- Leading indicators (correct)
- Lagging indicators
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Stock market performance, retail sales figures, building permits and housing starts are economic examples of:

Q: Stock market performance, retail sales figures, building permits and housing starts are economic examples of:
- Leading indicators
- Lagging indicators (correct)
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