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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


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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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