101ch12prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. International trade
a. raises the standard of living in all trading countries.
b. lowers the standard of living in all trading co

More practice Chapters 12-15
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. How are net exports of a country determined?
a. the value of goods and services imported minus the value of goods and services

chapter 13
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
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1. Foreign-produced goods and services that are sold domestically are called
a.
imports.
b.
exports.
c.
net imports.
d.
net

101_ch14_practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. During a recession the economy experiences
a. rising employment and income.
b. rising employment and falling income.
c. ris

ch11macroprac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. Which of the following concerning the history of inflation is false?
a. Prices rose at an average annual rate of about 4 percen

101_ch15_practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. According to liquidity preference theory, the money supply curve is
a. upward sloping.
b. downward sloping.
c. vertical.
d.

chapter 2
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. If an economist develops a theory about international trade based on the assumption that there are only two
countries and two goods,
a. the theor

ch9 practice
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. The natural rate of unemployment is the
a. unemployment rate that would prevail with zero inflation.
b. rate associated with the h

macroch10prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. Money
a. is more efficient than barter.
b. makes trades easier.
c. allows greater specialization.
d. All of the above are cor

macroch8prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. When opening a restaurant you may need to buy ovens, freezers, tables, and cash registers. Economists call
these expenditures
a.

macroch7prac
Multiple Choice
Identify the choice that best completes the statement or answers the question.
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1. Income in developing countries like Pakistan and Bangladesh
a. is 1/10th or less of that in developed countries like Japan and Can

101ch6
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
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1. The market basket used to calculate the CPI in Aquilonia is 4 loaves of bread, 6 gallons of milk, 2 shirts and 2
pants. In 2001 bread

ch3
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
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1. Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4
tables or 20 chairs, where Sandy can ma

101ch5
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
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1. Over time people have come to rely more on market-produced goods and less on goods that they produce for
themselves. For example p