問題一覧
1
Living standard growth refers to improvements in people’s?
all of the above
2
Which one of the following would be the best example of the economic activity of distribution?
The United States government mails out Social Security checks.
3
Which one of the following is NOT a reason that markets produce efficient outcomes, according to the basic neoclassical model?
Markets account for all negative and positive externalities.
4
Which one of the following statements about Miguel’s production possibilities is FALSE?
Point B is attainable and efficient
5
Which one of the following is not one of the arguments of classical macroeconomists?
They argue that the solution to business cycles is having the government take more direct control of the level of national investment.
6
Which one of the following would be classified as part of the core sphere?
A family
7
A population’s benefits from economic growth depend on?
All of the above.
8
In economics, a model…
All of the above
9
Keynesian economics originated during what period?
The Great Depression
10
The term “laissez-faire” would be applied to which type of economy?
An economy with limited government regulation.
11
A circular-flow diagram is a model of...
payments from firms to households and vice versa.
12
Which of the following statements is FALSE?
An empirical investigation involves developing theories based on abstract thought.
13
Which one of the following is an example of human capital?
Your knowledge of economics
14
Making sure that a country’s currently favorable macroeconomic environment will continue into the future would be part of which macroeconomic goal?
Sustainability
15
What is the difference between a stock and a flow?
A flow is measured over time while a stock is measured at a point in time.
16
In his 1936 book, The General Theory of Employment, Interest, and Money, John Maynard Keynes argued that countries could escape economic depression by?
raising aggregate demand.
17
How does the above graph illustrate that there is a tradeoff between guns and butter?
The PPF is downward sloping.
18
Which one of the following activities is least likely to occur in the core sphere?
Manufacturing automobiles
19
The conversion of resources into goods and services is known as?
production.
20
Markets do not provide efficient levels of public goods, because…
individuals can free ride.
21
Which one of the following is an example of a transaction cost?
A fee of $500 is paid to a lawyer for writing a business contract
22
In order for markets to operate smoothly, they depend on...
All of the above
23
An analytical tool that highlights some aspects of reality while ignoring others is called …
a model.
24
What are some of the arguments of monetarists regarding the functioning of the economy?
All of the above.
25
The three spheres of economic activities in the contextual model are…
core, public purpose and business