SEVENTH SET OF PRACTICE QUESTIONS FOR THE FIRST EXAM
1.
If the unemployment rate increases from 10% to 12%, the:
a)
b)
c)
d)
economy will move closer to the production possibility frontier
economy wil
TENTH PRACTICE TEST FOR THE FIRST EXAM
1.
Suppose that terrorists destroy oil refineries throughout the country. This would be
represented by:
a)
b)
c)
d)
a movement down the U.S. production possibili
NINTH PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following PPF:
0
1000
10
900
20
700
30
450
40
0
Which of the following statements is true?
a)
b)
c)
d)
the opportunity cost of 1000 un
TWELFTH PRACTICE TEST FOR THE FINAL EXAM
1.
Consider the graph on the next page. Which of the following statements is true about
point D?
a)
b)
c)
d)
the opportunity cost of wheat production is 60 uni
Chapter 10 Homework :
1- As president of Econivalia, you are constantly strained for funds to pay your troops. Your chief
economist suggests the following plan:
"When you collect your tax payments fro
Assume that in 2015, the following prevails in the Republic of Nurd:
Government spending (G) = $0
Net taxes (T) = $0
Planned investment (I) =
$25
Income (Y) =
$200
Assume that households of Nurd consu
Sample questions for Midterm
1.
Resources
are
a. Scarce for households but plentiful for economies.
b.Plentiful for households but scarce for economies.
c. Scarce for households and scarce for economi
Practice Questions
Chapter 17
1. In which of the following cases was the inflation rate 12 percent over the last year?
a. One year ago the price index had a value of 110 and now it has a value of 120.
TWENTY FIRST PRACTICE TEST FOR THE FIRST EXAM
1.
Consider the following points from a production possibility frontier.
Guns
22
20
19
18
0
Butter
0
10
13
15
25
The opportunity cost of 25 units of butte
FOURTH SET OF PRACTICE QUESTIONS FOR THE SECOND EXAM
1.
Suppose that prices and real GNP both double over a ten year period. It follows that
nominal GNP:
a)
b)
c)
d)
is unchanged
has quadrupled
has do
Sixteenth Practice Test for the Second Exam
1.
Suppose that prices rise by 50% and real GDP rises by 50% over a given period. It
follows that:
a)
b)
c)
d)
nominal GDP is unchanged
nominal GDP rises by
SECOND PRACTICE TEST FOR THE FIRST EXAM
1.
Consider the following production possibilities curve.
Wheat
Corn
0
900
100
800
200
675
300
525
400
325
500
0
Which of the following statements is true?
a)
b
Professor Friedman
TOPIC: The 2 (chi-square) distribution
The 2 distribution allows us to test different hypotheses about frequencies (or proportions).
2
=
( )2
fo = observed frequency
fe = expected
FOURTH SET OF PRACTICE QUESTIONS FOR THE FIRST EXAM
1.
Guns
Butter
Consider the following production possibilities frontier.
0
9000
100
8500
200
7750
300
6750
400
5500
500
4000
600
2250
700
0
Which of
SIXTH SET OF PRACTICE QUESTIONS FOR THE FIRST EXAM
1.
If a level of production is feasible then:
a)
b)
c)
d)
it is efficient
it is inefficient
it can be either efficient or inefficient
it is on the PP
FIFTH SET OF PRACTICE QUESTIONS FOR THE FIRST EXAM
1.
Consider the following production possibilities frontier.
Guns 0
Butter 5000
100
4500
200
3500
300
2000
400
0
Which of the following statements is
THIRD PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following production possibilities curve.
0
300
50
260
60
210
70
150
80
80
90
0
Which of the following statements is true?
a)
b)
c)
d)
Business Ethics Exam #1 Review Sheet
The exam will contain three parts. Multiple choice questions, true false questions and
statements, short answer questions.
Philosophical Ethics and Business
Types
CHAPTER
1
Ten Principles of Economics
Goals
Learn that economics is about the allocation of scarce resources
in this chapter you will
Examine some of the trade-offs that people face
Learn the meaning
Microeconomics Midterm Review Sheet
Chapter 1: Ten Principles of Economics Chapter Review
Chapter Review
Summary
The fundamental lessons about individual decision making are that people face tradeoffs
FIRST PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following PPF:
0
8000
100
7000
200
5500
300
3000
400
0
Which of the following statements is true?
a)
b)
c)
d)
the opportunity cost of
TWELFTH PRACTICE TEST FOR THE SECOND EXAM
1.
Suppose that real GNP triples and prices are unchanged. It follows that nominal GNP:
a)
b)
c)
d)
has quadrupled
has tripled
is unchanged
has fallen by two-
FIFTEENTH PRACTICE TEST FOR THE SECOND EXAM
1.
Suppose that prices double and real GDP falls by 50% over a given period. It follows
that during this period:
a)
b)
c)
d)
nominal GDP has doubled
nominal
SEVENTH SET OF PRACTICE QUESTIONS FOR THE SECOND EXAM
1.
Suppose that your nominal income and the price level both double. It:
a)
b)
c)
d)
is not clear what has happened to real income
follows that re
EIGHTH SET OF PRACTICE QUESTIONS FOR THE FIRST EXAM
1.
An earthquake hits Northern California and damages production of computer chips. This
would be represented by:
a)
b)
c)
d)
a movement down the U.
THIRTEENTH PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following production possibilities curve.
0
400
10
360
20
310
30
250
40
180
50
0
Which of the following statements is true?
a)
b)
FOURTEENTH PRACTICE TEST FOR THE FIRST EXAM
1.
Suppose that the economy is initially on its PPF but there is an increase in
unemployment. This will cause:
a)
b)
c)
d)
the PPF to move inwards
the PPF t
ELEVENTH PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following PPF:
0
8000
100
7000
200
5500
300
3000
400
0
Which of the following statements is true?
a)
b)
c)
d)
the opportunity cost
TWELFTH PRACTICE TEST FOR THE FIRST EXAM
1.
Wheat
Corn
Consider the following production possibilities curve.
0
300
50
260
60
210
70
150
80
80
90
0
Which of the following statements is true?
a)
b)
c)
Twentieth Practice Test for the First Exam
1.
a)
b)
c)
d)
Consider the graph above. The opportunity cost of 150 units of butter:
is equal to 50 units of guns
is equal to 250 units of guns
is equal to
ECO 120 BUS 120
Quiz #4
Due Monday March 12 IN CLASS
Dr. Torz GDP, the Circular Flow Model, and National Income Accounting
There is a relationship between the statistical measure of GDP that the U.S.
Amine Chaf
Econ 2100
Prof: E. Thorne
Karl Marx
According to The Worldly Philosophers book by Robert L. Heilbroner, Karl Marx was
a German economist and political scientist who lived from 1818 to 1883,