Ii. fill in the correct word or word combination (a, b, c) 1. macroeconomics is the branch of economics that economics as a whole. a) studies b) study c) is studying 2. he the london university. a) has entered b) was entered had entered 3. output this month is 5% than last month. a) highest b) higher c) high 4. a contract the basis of a transaction between the buyers and the sellers. a) forms b) is formed c) form 5. the price in a contract may be firm fixed, and sliding. a) state b) stating c) stated 6. the currency for payment is a matter for arrangement between the counterparts. a) to be used b) using c) is used 7. the credit cannot before the expiry date. a) cancel b) be cancelled c) to be cancelled 8. a contract defines rights and obligations of the parties a) involving b) to involve c) involved 9. in smith’s view, a nation’s wealth dependent upon production. a) were b) being c) was 10. mercantilists for regulation of economy. a) called b)were calling c)has called 11. thomas malthus a great prophet. a) was b) were c) has been 12. the equation of exchange helps why prices fluctuate. a) explains b) to explain c) explained 13. macroeconomics with such major policy issues as maintenance of full employment and price stability. a) is concerned b) was concerned c) will be concerned 14. the questions macroeconomist are in terms of broad aggregates. a) asked with b) ask with c) asked by 15. the individual consumer to possess a utility function. a) was b) is c) will be

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