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Mircoeconomics 2302 - Assessment: Lesson 1 Quiz

Question # 00014953
Subject: Economics
Due on: 05/10/2014
Posted On: 05/10/2014 07:17 AM

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Question 1 (6062899): Ecological balance is the goal that assumes _______________ can achieve balanced economic conditions while maintaining a sustainable, living, planet.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): only the local community
the national economy
the global economy
only certain countries
________________________________________
Question 2 (6062880): The “marginal utility” of choosing to go to a particular concert is the ____________ benefit (satisfaction or pleasure) that is gained.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): total
additional
none of the above
all of the above
________________________________________
Question 3 (6062891): The amount of goods and services produced is measured by ____________ .
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): Instant Gratification Index (IGI)
Gross Domestic Product (GDP)
Adrenaline Maximization Product (AMP)
Endorphin Utility Index (EUI)
________________________________________
Question 4 (6062896): Stability is the goal of economics seeking to allocate resources so that an economy does not experience __________________ .
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): too much endorphin
too little adrenaline
the wrong amount of oxytocin
high inflation
________________________________________
Question 5 (6062904): A _________________ taken on by all people in each sector of the economy results in fairness of opportunity (equity) for all people.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): big dose of oxytocin
big dose of adrenaline
balance of responsibilities
none of the above
________________________________________
Question 6 (6062868): Economists are social scientists who seek to __________ the allocation of scarce resources with a goal of bringing at least “basic satisfaction” to all members of a society.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): optimize , that is “balance”
minimize, that is “hoard them for later”
sanitize, that is, “make them pollution free”
nationalize, that is “put them under government control”
________________________________________
Question 7 (6062865): “Allocation” is concerned with how we choose to use our scarce resources on ___________________.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): an unlimited number of projects
only Normative economic projects
only Positive economic projects
a limited variety of different projects
________________________________________
Question 8 (6062886): ________________ analyzes how we choose to use our resources on an aggregate (national)level and includes measures of performance such as inflation, unemployment, and federal government expenditures.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): Normative economics
Microeconomics
Macroeconomics
Positive economics
________________________________________
Question 9 (6062919): In the ____________________ of the Circular Flow model, Households provide Consumption Spending (or Revenues) to the Business sector in exchange for Goods and Services.

Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): Resource Markets
Financial Markets
Government Markets
Product Markets
________________________________________
Question 10 (6062870): The Principles of Economics are the generally accepted theories about ___________.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): uncertainty and probability
risk management
resource allocation
return on investment
________________________________________
Question 11 (6062912): Over a reasonable period of time a nation must choose to balance its trade ____________ in order to prosper.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): within its own borders
within the global markets
with each and every person
with each and every business
________________________________________
Question 12 (6062908): The description of an economy by stating “opinions” is called _______________ .
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): Macroeconomics
Positive economics
Microeconomics
Normative economics
________________________________________
Question 13 (6062917): If you, as an individual, conclude that doubling your pay check is a good thing for you, then it must be a good thing for the entire society.
Type: True or False
Points awarded: 1.00 / 1.00

Correct answer(s): True
False
________________________________________
Question 14 (6062876): Being ________ means being able to clearly understand what one needs and being able to clearly understand the cost of gaining the fulfillment of each need.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): good at karate
good at pole vaulting
good at ethnic dancing
rational
________________________________________
Question 15 (6062882): A ________ cost of choosing to attend a concert is not only the out-of-pocket $ $ $ cost, but also the “opportunity cost” (lost wages or maybe extra sleep). Every activity we undertake requires us to not pursue other opportunities.
Type: Multiple Choice
Points awarded: 1.00 / 1.00

Correct answer(s): un-real
book keeping
real
fantasy


Tags quiz leon aement 0 mircoeconomics correct answers awarded multiple choicepoints type resources cost choose good economy goal economic satisfaction able index dose understand goods services government abovequestion thing allocation people sector opportunity scarce societytype projectsonly

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Mircoeconomics 2302 - Assessment: Lesson 1 Quiz with COrrect Answers

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Tutorial Preview …model,Households xxxxxxx Consumption xxxxxxxx (or Revenues) xx the Business xxxxxx in xxxxxxxx xxx Goods xxx Services Type: xxxxxxxx Choice Points xxxxxxxx 1 xx x 1 xx Correct answer(s): xxxxxxxx Markets Financial xxxxxxx Government xxxxxxx xxxxxxx Markets xxxxxxxx 10 (6062870): xxx Principles of xxxxxxxxx are xxx xxxxxxxxx accepted xxxxxxxx about ___________ xxxxx Multiple Choice xxxxxx awarded: x xx / x 00 Correct xxxxxxxxxx uncertainty and xxxxxxxxxxx risk xxxxxxxxxx xxxxxxxx allocation xxxxxx on investment xxxxxxxx 11 (6062912): xxxx a xxxxxxxxxx xxxxxx of xxxx a nation xxxx chooseto balance xxx trade xxxxxxxxxxxx xx order xx prosper Type: xxxxxxxx Choice Points xxxxxxxx 1 xx x 1 xx Correct answer(s): xxxxxx its own xxxxxxx within xxx xxxxxx markets xxxx each and xxxxx person with xxxx and xxxxx xxxxxxxx Question xx (6062908): The xxxxxxxxxxx of an xxxxxxx by xxxxxxx xxxxxxxxxxxxxx is xxxxxx _______________ Type: xxxxxxxx Choice Points xxxxxxxx 1 xx x…
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Assessment_Quiz_1_Microeconomic_2_2302.docx (88.08 KB)
Preview: awarded:1 xx / x 00 Correct xxxxxxxxxx too much xxxxxxxxxxxx little xxxxxxxxxxxxx xxxxx amount xx oxytocinhigh inflationQuestion x (6062904):A _________________ xxxxx on xx xxx people xx each sector xx the economy xxxxxxx in xxxxxxxx xx opportunity xxxxxxxx for all xxxxxx Type:Multiple ChoicePoints xxxxxxxxx 00 x x 00 xxxxxxx answer(s): big xxxx of oxytocinbig xxxx of xxxxxxxxxxxxxxxxx xx responsibilitiesnone xx the aboveQuestion x (6062868):Economists are xxxxxx scientists xxx xxxx to xxxxxxxxxx the allocation xx scarce resources xxxx a xxxx xx bringing xx least “basic xxxxxxxxxxxxxxx to all xxxxxxx of x xxxxxxx Type:Multiple xxxxxxxxxxxx awarded:1 00 x 1 00 xxxxxxx answer(s): xxxxxxxx x that xx “balance”minimize, that xx “hoard them xxx later”sanitize, xxxx xxx “make xxxx pollution free”nationalize, xxxx is “put xxxx under.....
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