Chapter 1 AppendixApplying Graphs to Economics
MULTIPLE CHOICE
1. A direct relationship exists when:
a. there is no association between two variables.
b. one variable increases and there is no change in the other variable.
c. one variable increases and th
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 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 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 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 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 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 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 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 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
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 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 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 6A: Indifference Curve Analysis
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
r
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 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 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 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 1A: Applying Graphs to Economics
LEARNING OBJECTIVES
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causation chain game, which is available directly on the Tucker web site. The steps also include
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 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 29: Economies in Transition
LEARNING OBJECTIVES
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causation chain game, which is available directly on the Tucker web site. The steps also include
refer
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 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 1: Introducing the Economic Way of Thinking
LEARNING OBJECTIVES
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causation chain game, which is available directly on the Tucker web site. The steps al
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 13
Practice Quiz
Federal Deficits, Surpluses and the National Debt
1. During the late 1998-2001, federal government budget deficits
a. were completely removed.
b. dropped significantly from a high of $300 billion.
c. remained fairly stable at abou
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 10
Practice Quiz
Aggregate Demand and Supply
1. The aggregate demand curve is defined as
a. the net national product.
b. the sum of wages, rent, interest, and profits.
c. the real GDP purchased at different possible price levels.
d. the total doll
Chapter 15
Practice Quiz
Money Creation
1. If a bank has total deposits of $100,000 with $10,000 set aside to meet reserve
requirements of the Fed, its required reserve ratio is
a. $10,000.
b. 10 percent.
c. 0.1 percent.
d. 1 percent.
ANS:
b. Required res