ECON EXAM Heyne Quizzes

ECON EXAM Heyne Quizzes - Heyne Quiz 1 On-Line Quiz Note...

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Heyne Quiz 1 On-Line Quiz Note: There are 10 multiple choice questions below. Answer each question by clicking the appropriate button. When you have answered all of the questions, click the "Check Answers" button at the bottom of the page. Your score will be calculated, and you will see a list of the questions that you answered correctly, and those that you answered incorrectly. You may retake the quiz as often as you wish. Click the "Reset" button to clear all your answers before you retake the quiz. 1. Economic theory assumes that people want material goods primarily. money in preference to all other goods. more of everything. to advance the projects in which they are interested. what serves selfish rather than altruistic goals. 2. The fact that almost everyone prefers more money to less makes it difficult to induce people to cooperate. makes it difficult to induce people to sacrifice for the larger public good. makes social order highly unstable and unpredictable. provides a mechanism for inducing useful changes in behavior. shows that this is a capitalist society. 3. The theories of economics, with surprisingly few exceptions, are simply extensions of the assumption that people take those actions they think will earn them the most money. enable them to be "one up" on others. make them popular. most effectively promote the common good. yield them the largest net advantage. 4. Which of the following is a true statement? Economic theory assumes that people are selfish. Economic theory assumes that people choose those actions from among the options that they think will yield them the largest disadvantage. Economic theory does not assume that people are more interested in
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money compared to love, wisdom, or honor. None of the above. 5. Adam Smith used the term commercial society to refer to a society in which business interests control the political system. everyone identifies value with price. everyone lives by exchanging. increased income is everyone's principal life goal. people behave without regard for the interests of others. 6. The text asserts that the benefits of civilization are heavily dependent on accurate numerical estimates by government officials of available resources and of basic consumption requirements. agreement among the members of society on the best means for achieving their goals. agreement among the members of society on the goals to be pursued. government planning for long-run economic growth. the ability to induce other people to cooperate. 7. Economic theory suggests that social order is maintained only when people act in the public interest. as a rule, people cooperate more effectively when they're selfish compared to when they're generous. a great deal of effective cooperation can occur in the presence of very little
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This note was uploaded on 04/09/2011 for the course ECON 201 taught by Professor Joyce during the Spring '07 term at Drexel.

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ECON EXAM Heyne Quizzes - Heyne Quiz 1 On-Line Quiz Note...

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