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Quiz von Liz ALizaa, aktualisiert more than 1 year ago
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Erstellt von Liz ALizaa
vor mehr als 9 Jahre
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Frage 1
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Economic freedom generally leads to
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a higher standard of living
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longer life expectancy
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better education
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a better living conditions
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all of the above
Frage 2
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Which of the following statements is true?
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Goods are scarce for the poor but not for the rich
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Goods are scarce for neither the poor nor the rich
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Goods are scarce for both the poor and the rich
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Goods are scarcer for the poor than for the rich
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Goods are scarce for the rich but not for the poor
Frage 3
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If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is
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two apples and three oranges
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the difference in the prices of the three options
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two apples or three oranges, whichever you must prefer
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three oranges
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two apples
Frage 4
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Opportunity cost is best defined as the
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cost of a good less profits
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money spent once a choice is made
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sum of all alternatives given up when a choice is made
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highest valued alternative given up when a choice is made
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cost of capital resources used in the production of additional capital
Frage 5
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Nicky makes $25,000 a year as a sales clerk. He then decides to quit his job to enter an MBA program full time (assume Nicky does not work in the summer or hold any part time jobs). His tuition, books, living expenses, and fees total $15,000 a year. Given this information, the annual total cost of Nicky's MBA studies is
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$35,000
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$40,000
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$25,000
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$10,000
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$15,000
Frage 6
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Which of the following is considered to be a physical capital?
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Machinery
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Stocks
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Money
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Bonds
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Finished products
Frage 7
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Oil found underground in Texas is an example of
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an entrepeneur
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a labor resource
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land or natural resource
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a capital resource
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human capital
Frage 8
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A person has a comparative advantage in producing a good if that person
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can produce the good at a lower absolute cost than anyone else
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can produce the good at a higher opportunity cost than anyone else
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can do a better job than anyone else
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spends less money in out of pocket expenses than anyone else
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can produce the good at a lower opportunity cost than anyone else
Frage 9
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Scenario 1.1 Alan and Brian work at a baseball and softball manufacturing plant. Alan can produce either 10 baseballs or 4 softballs in an hour. Brain can produce either 8 baseballs or 2 softballs in an hour. According to Scenario 1.1, the opportunity cost for Brian to produce 1 softball is
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2 1/2 baseballs
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2/3 baseball
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4 baseballs
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1/4 baseball
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less than the opportunity cost for Alan to produce 1 softball
Frage 10
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In figure 1.3, under utilization of resources is represented by point
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Frage 11
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Frage 12
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Frage 13
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Frage 14
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Frage 15
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Frage 16
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Frage 17
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Frage 18
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Frage 19
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Frage 20
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Frage 21
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Frage 22
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Frage 23
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Frage 24
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Frage 25
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Frage 26
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Frage 27
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Frage 28
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Frage 29
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Frage 30
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- True
- False
Frage 31
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Frage 32
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Frage 33
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Frage 34
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Frage 35
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Frage 36
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Frage 37
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Frage 38
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Frage 39
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Frage 40
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