Appendix to Chapter 3
Practice Quiz
Consumer Surplus, Producer Surplus, and Market Efficiency
1. If Bill is willing to pay $10 for one good X, $8 for a second, and $6 for a third, and
the market price is a $5, then Bills consumer surplus is
a. $24
b. $18
Chapter 3
Practice Quiz
Market Supply and Demand
1. If the demand curve for good X is downward-sloping, an increase in the price will
result in
a. an increase in the demand for good X.
b. a decrease in the demand for good X.
c. no change in the quantity d
Chapter 4
Practice Quiz
Markets in Action
1. Suppose prices for new homes have risen, yet the number of new homes sold has also
risen. We can conclude that
a. the demand for new homes has risen.
b. the law of demand has been violated.
c. new firms have en
Chapter 11: Labor Markets
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references to A
Chapter 28: International Trade and Finance
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also inclu
Chapter 8: Perfect Competition
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references
Chapter 7: Production Costs
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references to
Chapter 5: Price Elasticity of Demand and Supply
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also
Chapter 10: Monopolistic Competition and Oligopoly
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps als
Chapter 9: Monopoly
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references to Ask the
Chapter 13: Antitrust and Regulation
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
refe
Chapter 12: Income Distribution, Poverty, and Discrimination
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The
Chapter 4: Markets in Action
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references t
Chapter 14: Environmental Economics
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
refer
Chapter 2: Production Possibilities, Opportunity Cost, and Economic
Growth
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker
Chapter 30: Growth and the Less-Developed Countries
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps al
Chapter 1A: Applying Graphs to Economics
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
Chapter 3: Market Demand and Supply
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
refer
Chapter 1: Introducing the Economic Way of Thinking
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps al
Chapter 6: Consumer Choice Theory
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
references to Ask the Instr
Chapter 29: Economies in Transition
LEARNING OBJECTIVES
The steps to achieve the learning objectives include reading sections from your textbook and the
causation chain game, which is available directly on the Tucker web site. The steps also include
refer
Chapter 17
Practice Quiz
The Phillips Curve and Expectations Theory
1. The Phillips curve depicts the relationship between the
a. unemployment rate and the change in GDP.
b. inflation rate and the interest rate.
c. level of investment spending and the int
Appendix to Chapter 1
Practice Quiz
Applying Graphs to Economics
1. Straight line CD in Exhibit A-7 shows that
a. increasing the value of X will increase the value of Y.
b. decreasing the value of X will decrease the value of Y.
c. there is a direct relat
Chapter 19
Practice Quiz
Economies in Transition
1. The economic system in which all of the basic decisions are made through a
centralized authority, such as a government agency, is termed a
a. market economy.
b. capitalistic economy.
c. command economy.
Chapter 12
Practice Quiz
The Public Sector
1. Since 1975, total government expenditures as a percentage of GDP in the United States
have
a. grown from one-third to about 40 percent.
b. remained at about one-third.
c. grown from one-fourth to one-half.
d.
Chapter 16
Practice Quiz
Monetary Policy
1. Keynes gave which of the following as a motive for people holding money?
a. Transactions demand.
b. Speculative demand.
c. Precautionary demand.
d. All of the above.
ANS:
d. These are the three motives for holdi
Chapter 20
Practice Quiz
Growth and the Less-Developed Countries
1. An LDC is defined as a country
a. without large stocks of advanced capital.
b. without well-educated labor.
c. with a low GDP per capita.
d. that is described by all of the above.
ANS:
d.
Chapter 18
Practice Quiz
International Trade
and Finance
1. With trade, the production possibilities for two nations lie
a. outside their consumption possibilities.
b. inside their consumption possibilities.
c. at a point equal to the world production pos
Chapter 16A
Practice Quiz
Policy Disputes Using the Self-Correcting Aggregate Demand
and Supply Model
1. Assume the economy is experiencing a recessionary gap. Classic economists would
support which of the following policies?
a. Contractionary
b. Expansio
Chapter 11
Practice Quiz
Fiscal Policy
1. Contractionary fiscal policy is deliberate government action to influence aggregate
demand and the level of real GDP through
a. expanding and contracting the money supply.
b. encouraging business to expand or cont