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sp01-1 - Econ 2012 Section 004 Principles of Economics...

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Econ 2012, Section 004, Principles of Economics: Macroeconomics University of Colorado at Denver, Spring 2001 Instructor: Vijaya R. Sharma, Ph.D. Exam 1 Answer all 30 multiple-choice questions in this test. Each question is worth 1 point. 1. Which of the following is the most accurate statement about the production possibilities curve (PPC)? a. An economy can produce at any point inside or outside its PPC. b. An economy can produce only on its PPC. c. An economy can produce at any point on or inside its PPC, but not outside the PPC. d. An economy can produce at any point inside its PPC, but not on or outside the PPC. 2. A PPC will shift outward for all of the following reasons except when 3. If a country invests and adds to its capital stock with the result that worker productivity rises, 4. Which is true of an inferior good ? 5. Computers and computer software are complements. As the price of computers decreases, a. the demand for software will decrease. b. the demand for computers will increase. c. demand for computers will decrease. d. the demand for software will increase. 6. As a result of agricultural price supports (price floor),
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