Question 1

-During most of our involvement in World War II we temporarily operated at point

Accepted Answer

A) F. 
B) G. 
C) H. 
D) I. 
A) F. 
B) G. 
C) H. 
D) I.

Question 2

-If the economy is at point R, most likely this economy is experiencing _________.

Accepted Answer

The answer of  
-If the economy is at point...

Question 3

Our basic economic problem would be solved if

Accepted Answer

A) everyone were given $500,000. 
B) our population stopped growing. 
C) all sickness and disease were wiped out. 
D) our wants could be satisfied with available resources. 
A) everyone were given $500,000. 
B) our population stopped growing. 
C) all sickness and disease were wiped out. 
D) our wants could be satisfied with available resources.

Question 4

Suppose you had $1,000 to spend. You choose to spend the money on new clothes rather than on a new surfboard, your second choice or 1,000 lottery tickets, your third choice.

Accepted Answer

A) Your opportunity cost of spending the money on clothes is the $1,000 spent. 
B) Your opportunity cost of spending the money on clothes is not buying the surfboard. 
C) Your opportunity cost of spending the money on clothes is not buying the surfboard and the lottery tickets. 
D) There is no opportunity cost in this instance. 
A) Your opportunity cost of spending the money on clothes is the $1,000 spent. 
B) Your opportunity cost of spending the money on clothes is not buying the surfboard. 
C) Your opportunity cost of spending the money on clothes is not buying the surfboard and the lottery tickets. 
D) There is no opportunity cost in this instance.

Question 5

-We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point

Accepted Answer

A) P. 
B) Q. 
C) R. 
D) S. 
A) P. 
B) Q. 
C) R. 
D) S.

Question 6

-In 1939 the U.S. economy was operating at point _______.

Accepted Answer

A) A 
B) B 
C) C 
D) D 
E) E 
A) A 
B) B 
C) C 
D) D 
E) E

Question 7

Writer Thomas Friedman asserts that "America is the greatest engine of innovation that has ever existed and it can't be duplicated anytime soon, because"

Accepted Answer

A) of its extreme freedom of thought. 
B) of its emphasis on independent thinking. 
C) of its steady immigration of new minds. 
D) of its risk-taking culture with no stigma attached to trying and failing. 
E) of all of the factors listed. 
A) of its extreme freedom of thought. 
B) of its emphasis on independent thinking. 
C) of its steady immigration of new minds. 
D) of its risk-taking culture with no stigma attached to trying and failing. 
E) of all of the factors listed.

-During most of our involvement in World War II we temporarily operated at point

-If the economy is at point R, most likely this economy is experiencing _________.

Our basic economic problem would be solved if

Suppose you had $1,000 to spend. You choose to spend the money on new clothes rather than on a new surfboard, your second choice or 1,000 lottery tickets, your third choice.

-We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point

-In 1939 the U.S. economy was operating at point _______.

Writer Thomas Friedman asserts that "America is the greatest engine of innovation that has ever existed and it can't be duplicated anytime soon, because"

A Brief Economic History of the United States

The Mixed Economy

Supply and Demand

Demand, Supply, and Equilibrium

The Price Elasticities of Demand and Supply

Theory of Consumer Behavior

Cost

Profit, Loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, Interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters

Exam 2: Resource Utilization

-During most of our involvement in World War II we temporarily operated at point

-If the economy is at point R, most likely this economy is experiencing _________.

Our basic economic problem would be solved if

Suppose you had $1,000 to spend. You choose to spend the money on new clothes rather than on a new surfboard, your second choice or 1,000 lottery tickets, your third choice.

-We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point

-In 1939 the U.S. economy was operating at point _______.

Writer Thomas Friedman asserts that "America is the greatest engine of innovation that has ever existed and it can't be duplicated anytime soon, because"

A Brief Economic History of the United States

The Mixed Economy

Supply and Demand

Demand, Supply, and Equilibrium

The Price Elasticities of Demand and Supply

Theory of Consumer Behavior

Cost

Profit, Loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, Interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters