Macro Sample Tests All Chapters

Macro Sample Tests All Chapters - MACROECONOMICS TEST...

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Page 1 MACROECONOMICS - TEST ONE (Chapters 1-6), Fall 2006 NAME __________________________________ Forty-one multiple-choice questions, each worth 2.439 points. For each question, circle the best answer. 1. The study of economics is primarily concerned with: A) keeping private businesses from losing money. B) keeping economics professors from starving to death. C) choices that are made in seeking to use scarce resources efficiently. D) determining the most equitable (fair) distribution of the government's money. 2. Even though the Orlando Sentinel is inexpensive, people rarely buy more than one of them each day. This fact: 3. The basic purpose of the "other things equal" (ceteris paribus) assumption is to: Z . 4. Which of the following is a microeconomic statement? 5. The problems of aggregate (at the national level) inflation and unemployment are: A) major topics of macroeconomics. B) not relevant to the U.S. economy. C) major topics of microeconomics. D) peculiar to socialistic economies. 6. "If you leave a football game at the end of the third quarter, you will avoid traffic and get home more quickly. Therefore, everyone should leave the game early." This illustrates the: A) "sore loser syndrome" B) adverse selection problem. C) fallacy of division. D) fallacy of composition. 7. If we say that two variables are inversely related, this means that: Use the following to answer question 8:
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