ECO101MicroeconomicsTest(Others)

ECO101MicroeconomicsTest(Others) - V iew Results TEST 1...

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View Results TEST 1 User ID: clee5 Attempt: 1 / 1 Out of: 100 Started: June 24, 2005 2:57pm Finished: June 24, 2005 4:34pm Time spent: 1 hr, 37 min., 1 s ec. Student finished 1 hr, 22 min., 59 sec. ahead of the 180 min. time limit. Question 1 (2 points) Macroeconomics is concerned primarily with Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. the way things are produced. 0.0% b. the prices of particular goods and services. 0.0% c. the behavior of consumers. 100.0% d. the performance of the aggregate economy. Score: 2 / 2 Question 2 (2 points) A map is an example of a model because a map Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. describes an area in great detail. 0.0% b. is always as complex as space will permit. 0.0% c. is two-dimensional. 100.0% d. is a simplified representation about reality. Score: 2 / 2
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Question 3 (2 points) Economics is generally concerned with Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. the operation of banks in the stock market. 0.0% b. business management. 100.0% c. how resources are allocated among alternative goals. 0.0% d. the right time to start a business. Score: 2 / 2 Question 4 (2 points) Eliminating important details in economic analysis is necessary to understand the complexit y of the economy. Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. True 100.0% b. False Score: 2 / 2 Question 5 (2 points) An example of a normative macroeconomic question is Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. does government spending increase unemployment? 0.0% b. does government spending increase inflation? 0.0% c. do government actions increase growth in the economy? 100.0% d. does government spending increase economic well-being?
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Score: 2 / 2 Question 6 (2 points) Which of the following is an example of a positive statement? Student response: Percent Value Correct Response Student Response Answer Choices 100.0% a. If you drop a quarter off the top of the Sears Tower in Chicago, it will fall to the g round. 0.0% b. The minimum wage should be raised to $7 and hour. 0.0% c. There is too much crime in the United States; something should be done about it. 0.0% d. People should learn to love each other. Score: 2 / 2 Question 7 (2 points) Which would be least consistent with the kind of rational decision-making assumed in econo mics? Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. Alfred chooses love over money. 0.0% b. Bernice acts on the basis of faulty information and, as a result, makes a mistake. 100.0%
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ECO101MicroeconomicsTest(Others) - V iew Results TEST 1...

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