1 (1 point) All of the following statements, except one, are normative statements. Which is the exception? Question 1 options: A) The government is trying to mislead people about the tax on gasoline. B) Lowering the taxes on gasoline would decrease the price at the pump. C) The taxes on gasoline should be lower. D) It is wrong for the government to tax gasoline. Question 2 (1 point) What term is used to describe the way that the various factors of production are combined to obtain output? Question 2 options: A) Technology. B) Opportunity costs. C) Ways of coordinating an economy. D) Types of economies. Question 3 (1 point) Which of the following statements concerning capitalism and socialism is false? Question 3 options: A) Government plays a larger role in a capitalist economy. B) The Canadian economy is more socialist than is the US economy. C) There is more economic planning in a socialist economy. D) Sweden is more of a socialist economy than is Hong Kong. Question 4 (1 point) Below are some production possibilities data for the mystical land of Lhanor. A B C D E Kaldors 0 4 8 12 16 Bouldings 60 54 42 24 0 Refer to the information above to answer this question. Suppose that Lhanor is currently producing combination D. What is the opportunity cost of producing 4 more Kaldors? Question 4 options: A) 6 Bouldings. B) 12 Bouldings. C) Zero. D) 24 Bouldings. E) 18 Bouldings. Question 5 (1 point) All of the following, except one, are typically macroeconomic topics. Which is the exception? Question 5 options: A) Interest rates. B) Unemployment. C) National income. D) Marginal utility. E) Taxation policies. Question 6 (1 point) Which of the following is a consumer good or service? Question 6 options: A) An office computer. B) A menu in a restaurant. C) A government bond. D) A farm tractor. E) A haircut. Question 7 (1 point) Saved The maximum production possible in Rome and in Cathay are as follows: Rome 40 bread Or 20 figs Cathay 20 bread Or 40 figs If each country is self-sufficient (no trade) and each allocates one half of its resources to producing each of the two products, what is the combined output in the two counties? Question 7 options: A) 60 bread and 0 figs. B) 0 bread and 60 figs. C) 30 bread and 30 figs. D) 60 bread and 60 figs. Question 8 (1 point) All of the following except one are considered to be among the three fundamental questions in economics? Which one is the exception? Question 8 options: A) For whom? B) How to produce? C) What to produce? D) How much competition? Question 9 (1 point) Below is a production possibilities curve for a large tract of prairie farm land. Refer to the graph above to answer this question. If 150 units of rye are currently being produced, what is the cost of producing 50 more units of rye? Question 9 options: A) 100 units of wheat. B) 50 units of wheat. C) 25 units of wheat. D) 400 units of wheat. E) Cannot be determined. Question 10 (1 point) Meridith had only $16 to spend this last weekend. She was, at first, uncertain about whether to go to two movies she had been wishing to see or to buy a new CD she had recently heard. In the end she went to the movies. Which of the following statements is correct? Question 10 options: A) The choice of the two movies and not the CD is an example of increasing costs. B) The choice of two movies rather than one CD was a bad one. C) The opportunity cost of the two movies is one CD. D) The opportunity cost of the two movies is $16