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Quiz

Econ 100 Unit 1

Liz ALizaa 40 perguntas

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Perguntas do quiz (40)

  1. 1Economic freedom generally leads to
    1. Aa higher standard of living
    2. Blonger life expectancy
    3. Cbetter education
    4. Da better living conditions
    5. Eall of the above
  2. 2Which of the following statements is true?
    1. AGoods are scarce for the poor but not for the rich
    2. BGoods are scarce for neither the poor nor the rich
    3. CGoods are scarce for both the poor and the rich
    4. DGoods are scarcer for the poor than for the rich
    5. EGoods are scarce for the rich but not for the poor
  3. 3If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is
    1. Atwo apples and three oranges
    2. Bthe difference in the prices of the three options
    3. Ctwo apples or three oranges, whichever you must prefer
    4. Dthree oranges
    5. Etwo apples
  4. 4Opportunity cost is best defined as the
    1. Acost of a good less profits
    2. Bmoney spent once a choice is made
    3. Csum of all alternatives given up when a choice is made
    4. Dhighest valued alternative given up when a choice is made
    5. Ecost of capital resources used in the production of additional capital
  5. 5Nicky 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
    1. A$35,000
    2. B$40,000
    3. C$25,000
    4. D$10,000
    5. E$15,000
  6. 6Which of the following is considered to be a physical capital?
    1. AMachinery
    2. BStocks
    3. CMoney
    4. DBonds
    5. EFinished products
  7. 7Oil found underground in Texas is an example of
    1. Aan entrepeneur
    2. Ba labor resource
    3. Cland or natural resource
    4. Da capital resource
    5. Ehuman capital
  8. 8A person has a comparative advantage in producing a good if that person
    1. Acan produce the good at a lower absolute cost than anyone else
    2. Bcan produce the good at a higher opportunity cost than anyone else
    3. Ccan do a better job than anyone else
    4. Dspends less money in out of pocket expenses than anyone else
    5. Ecan produce the good at a lower opportunity cost than anyone else
  9. 9Scenario 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
    1. A2 1/2 baseballs
    2. B2/3 baseball
    3. C4 baseballs
    4. D1/4 baseball
    5. Eless than the opportunity cost for Alan to produce 1 softball
  10. 10In figure 1.3, under utilization of resources is represented by pointImagem da pergunta 10
    1. AA
    2. BB
    3. CC
    4. DD
    5. EE

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Undergrad
Idioma
English
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