QUESTION 3

1. A factory makes Styrofoam ice chests and bicycle helmets according to the numbers below:
2. ABCDE
3. helmets05101520
4. chests807560350
5. If helmets sell for $40 and chests $5,then the above lettered goal worth the most is:
6. A
7. B
8. C
9. D
10. E

5 points

QUESTION 4

1. A factory makes Styrofoam ice chests and bicycle helmets according to the numbers below:
2. ABCDE
3. helmets05101520
4. chests807560350
5. Making 4 helmets and 79chests is:
6. efficient
7. inefficient
8. beyond possible
9. more info needed

5 points

QUESTION 5

1. A factory makes Styrofoam ice chests and bicycle helmets according to the numbers below:
2. ABCDE
3. helmets05101520
4. chests807560350
5. Making 12 helmets and 70 chests is:
6. efficient
7. inefficient
8. beyond possible
9. more info needed

5 points

QUESTION 6

1. Opportunitycost is the cost of:
2. searching
3. applying
4. missing the benefit of the next best activity
5. pondering

5 points

QUESTION 7

1. If Adam Smith's views were applied to recess then teachers would:
2. make sure the school yard is safe then go inside
3. stay in the schoolyard but off to the side
4. direct all activities from the middle of the schoolyard
5. join the kids some days and not on others

5 points

QUESTION 8

1. To Adam Smith, markets are _ best.
2. almost always
3. never
4. seldom
5. about half the time

5 points

QUESTION 9

1. To Karl Marx, the culprits were the:
2. nobility, aristocrats
3. capitalists, bourgeoisie
4. proletariat, laborers
5. government

5 points

QUESTION 10

1. Which of the following makes the following into a microeconomic question: how much _ is ideal?
2. inflation
3. machines in a factory
4. unemployment
5. growth

5 points

QUESTION 11

1. Scarcity means desires _ resources.->
2. >
3. <
4. =
5. = or <

5 points

QUESTION 12

1. Congress identified full employment as a goal in:
2. 1776
3. 1944
4. 1978
5. 1989

5 points

QUESTION 13

1. An example of market failure is:
2. appliances makingchores easier
3. noisy lawn mowers
4. hotels serving tourists
5. harmful toy recall

5 points

QUESTION 14

1. Being pushed by the invisible hand is when people follow:
2. tradition
3. government
4. religion
5. seasons
6. opportunities

5 points

QUESTION 15

1. A normative statement contains a(n):
2. average
3. opinion
4. question
5. debate

5 points

QUESTION 16

1. To Karl Marx, markets are _ best.
2. almost always
3. never
4. usually
5. seldom

5 points

QUESTION 17

1. A country with almost all goods and services provided through the marketplace and minimal government is described as
2. laissez faire
3. communist
4. mixed economy
5. dictatorship

5 points

QUESTION 18

1. Labor is all the following except:
2. time
3. energy
4. skills
5. tools

5 points

QUESTION 19

1. A factory makes Styrofoam ice chests and bicycle helmets according to the numbers below:
2. ABCDE
3. helmets05101520
4. chests807560350
5. Making11 helmets and40 chests is:
6. efficient
7. inefficient
8. beyond possible
9. more info needed

5 points

QUESTION 20

1. There are _ core choices every economy must answer.
2. 2
3. 3
4. 7
5. 10

Macroeconomics (103-V03)

Multiple choices