Economic Analysis Quiz

Which of the following is a tool used in economic analysis?

• Pie chart

• Graph

• Circle

• Polygon

The study of individual units in an economy is referred to as:

• Macroeconomics

• Microeconomics

• Fiscal economics

• International economics

Which of these is an example of a quantitative economic tool?

• Statistics

• Survey

• Interview

• Literature review

Data collection in economics can be performed using:

• Surveys and questionnaires

• Only graphs

• Only tables

• None of the above

Which of the following is NOT a graphical representation used in economic analysis?

• Pie chart

• Matrix

• Bar chart

• Line graph

Economic analysis relies heavily on:

• Guesswork

• Superstition

• Mathematical models

• Astrology

In economics, which of the following tools helps in tracking trends over time?

• Line graphs

• Histograms

• Tally charts

• Frequency tables

In an economic model, assumptions are used to:

• Add complexity

• Simplify reality

• Confuse readers

• Avoid predictions

Which of the following is a graphical tool used to show the relationship between two variables?

• Bar chart

• Scatter plot

• Pie chart

• Frequency table

The use of mathematical equations in economics allows economists to:

• Avoid accurate predictions

• Increase guesswork

• Make precise forecasts

• Ignore data