763945
Beschreibung
Quiz von Whitney Smith, aktualisiert more than 1 year ago
|
Erstellt von Whitney Smith
vor etwa 10 Jahre
|
|
Frage 1
Frage
The physical and mental talents people bring to production processes comprise the resourced called
Antworten
-
labor
-
capital
Frage 2
Frage
Which of the following is a microeconomics topic?
Antworten
-
The study of how prices are determined in the computer industry
-
The study of how prices are determined in the business world
Frage 3
Frage
What is the most prominent rationing device you will likely find at your campus bookstore?
Antworten
-
Cow, Oxen, or Rice
-
Dollar Price
Frage 4
Frage
Economists believe that people's wants are
Antworten
-
finite
-
infinite
Frage 5
Frage
Decision making "at the margin" means making a choice based on __________ of a decision.
Antworten
-
comparing the additional benefits and costs
-
comparing the less benefits and additional costs
Frage 6
Frage
At the optimal level of an activity, the activity's marginal benefit must exceed the marginal cost of the activity.
Antworten
-
equal the marginal cost of the activity
-
less than the marginal cost of the activity
Frage 7
Frage
Most states have instituted mandatory seatbelt laws to reduct traffic fatalities. An economist may point out that an unintended effect of these laws is
Antworten
-
an increase in traffic, increasing fatalities
-
an increase in risky driving behavior, increasing fatalities.
Frage 8
Frage
Which of the following statements is false?
Antworten
-
Elementary education at public schools is usually free.
-
Elementary education at private schools usually cost money.
Frage 9
Frage
The question of how a tax change might impact U.S. economic output is most closely associated with the suds of
Antworten
-
microeconomics
-
macroeconomics
Frage 10
Frage
Opportunity cost is the ______________ alternative forfeited when a choice is made.
Antworten
-
least likely valued
-
most highly-valued
Frage 11
Frage
Scarcity is defined as the condition in which
Antworten
-
wants are infinite and recourses finite
-
wants are finite and resources infinite
Frage 12
Frage
A good provides __________ and a bad provides __________.
Antworten
-
utility; disutility
-
disutility; utility
Frage 13
Frage
Which of the following statements is false?
Antworten
-
To an economist, the resource capital consists of produced goods that can be turned into unproduced goods.
-
To an economist, the resource capital consists of unproduced goods that can be turned into produced goods.
Frage 14
Frage
Every time you make a _________, you incur a (an) _________.
Antworten
-
decision; choice
-
choice; opportunity cost
Frage 15
Frage
The ____________ the opportunity cost of doing something, the ____________ likely a person will do that something.
Antworten
-
higher; less/ lower; more
-
higher; more/ lower; less
Frage 16
Frage
What does it mean if a person makes a "decision at the margin"?
Antworten
-
The person does not compare additional benefits but compares the additional costs when deciding what to do.
-
The person compares additional benefits and additional costs when deciding what to do.
Frage 17
Frage
What is likely to be an unintended effect of a rise in the minimum wage?
Antworten
-
Some people lose their job.
-
Less jobs become open.
Frage 18
Frage
The student whose study habits are illustrated here will maximize the net benefits of studying when she has studied
Image:
nar001-1 (image/jpg)
Antworten
-
2 hours
-
6 hours
Frage 19
Frage
Refer to this exhibit. If the student whose study habits are illustrated here is currently studying for 8 hours she should
Image:
nar001-1 (image/jpg)
Antworten
-
increase the number of hours she is studying because the marginal benefits for 8 hours will be more than the marginal cost of doing so.
-
cut back on the number of hours she is studying because the marginal benefit of studying for 8 hours is less than the marginal cost of doing so.
Frage 20
Frage
Which of the following is not one of the four broad categories of resources?
Antworten
-
money
-
land
Frage 21
Frage
If increasingly more units of good Y must be given up as each successive unit of good X is product, then the PPF for these two goods is
Antworten
-
a downward-sloping curve that is bowed outward
-
an upward-sloping line that is bowed inward
Frage 22
Frage
Consider two points on the PPF: point A, at which there are 50 oranges and 100 apricots, and point B, at which there are 51 oranges and 98 apricots. If the economy is currently at point B, the opportunity cost of moving to point A is
Antworten
-
1 orange
-
8 oranges
Frage 23
Frage
The PPF between goods X and Y will be a downward-sloping
Antworten
-
curve that is bowed inward if decreasing opportunity cost exist.
-
curve that is bowed outward if increasing opportunity cost exist.
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.