ECO 202 – Final Exam Test Bank

1. Suppose you have a question about some of the ECO 202 course material that you want to ask your instructor. The best way to communicate with the instructor is by... a. Email b. Telephone c. Dropping by your instructors office d. All of the above. 2. Students who successfully complete this course will be able to... a. Distinguish positive and normative macroeconomic issues b. Make appropriate choices among alternative frames of reference for analyzing macroeconomic issues. c. Use relevant information to analyze macroeconomic issues. d. All of the above 3. Students who successfully complete this course will be able to... a. Identify macroeconomic issues. b. Analyze the behavior of individual markets. c. Both of the above. d. None of the above. 4. The required material can be found in... a. The Macroeconomics in Context text. b. The Critical Thinking in Economics text. c. Both of the above. d. Mankiw’s Principles of Macroeconomics text. e. All of the above are possible resources but none is required. 5. How will the quizzes and exams be taken? a. Online, at the course Canvas website. b. Through hardcopy exams. c. Either of the above. d. Online, at a third party’s website. 6. What restrictions are there when taking quizzes and exams? a. Each quiz and each exam can only be taken once. b. Each quiz can be taken twice, but each exam can only be taken once. c. Each quiz can be taken as many times as desired before the due date. d. Each quiz and exam must be taken in a fixed amount of time. e. Each exam must be completed in 30 minutes. 7. A term paper is required for this course. a. True b. False 8. Which one of the following statements is consistent with the course makeup policy? a. There are no makeups for any quiz or exam. b. There are no makeups for any quiz, but it is possible to arrange a makeup midterm exam or final exam. c. With appropriate documentation, it is possible to arrange a makeup for any quiz or exam. d. A makeup final exam is possible, but only for circumstances beyond your control and with sufficient evidence of the circumstances. 9. Which one of the following statements is consistent with the course exam policy? a. Exams do not count toward the final course grade. b. Any exam can be dropped and replaced with the score from an exam with a higher grade. c. Only the final exam can be used to replace the grade for the first or second midterm exam. d. Exams are open book and open notes. 10. Based on the description of how grades are calculated, what would your final course grade be if your quiz average is 85, your discussion average is 100, your first exam grade is an 80, your second exam grade is a 75, and your final exam grade is a 90? a. 82.5 b. 85.75 c. 89.5 d. 90.00 11. Suppose your course average ends up being 79.99. What is the letter grade that you will get for the course? a. C+ because there is no rounding after calculating the course average to two decimal places. b. C because there are no plusses or minuses awarded. c. B- because 79.99 rounds to an 80. d. The syllabus doesn’t explain what letter grade is associated with a 79.99. 12. When do you have to take the final exam? a. May 9 from 1-4 pm. b. Any time from 12:01 am on May 3 to 11:59 pm on May 5. c. Any time between 8 am and 5 pm from May 8 to May 10. d. The time has yet to be determined. 13. Which one of the following is not a distinguishing characteristic of critical thinking? a. Intuitive b. Purposeful c. Self-aware d. Problem solving e. Rational 14. The process of critical thinking is useful in macroeconomics because... a. Macroeconomics is hard. b. Macroeconomics focuses on choosing effective policies. c. Macroeconomics deals with people. d. Macroeconomics involves statistics. 15. The process of thinking critically is best described as... a. Deciding what the issue is, becoming aware of your initial frame of reference, gathering information, and constructing a conclusion. b. Deciding what the issue is, finding a solution to the issue, and criticizing other solutions. c. Choosing a question to answer, justifying your choice of question, and positing an answer. d. Analyzing an issue, supporting that analysis with data, and making a judgment. 16. Critical thinking about macroeconomic issues requires that you do what before analyzing the particular macroeconomic issue at hand? a. Take stock of any relevant macroeconomic information, theories, and conclusions that you already hold or believe. b. Ignore any macroeconomic information, theories, and conclusions that you already hold or believe. c. Don’t worry about what macroeconomic information, theories, and conclusions that you already hold or believe. d. Criticize mistaken macroeconomic information, theories, and conclusions that others have made. 17. What role do personal (or professional) values play in thinking critically about macroeconomic issues? a. They play no role. b. They play the primary role in deciding how to answer the macroeconomic question at hand. c. Their role depends on the nature of the macroeconomic issue being investigated. However, one should be aware of any values that one holds that might be relevant to the macroeconomic issue. d. Their role is a negative one because of the biases they create. 18. Which one of the following is not a part of the critical thinking step of gathering relevant information? a. Being skeptical of the value of the information. b. Deciding which possible answer you gather is the right one. c. Being aware of who is providing the information. d. Looking for confirmation of the trustworthiness of information you gather. 19. The critical thinking step of coming to a conclusion... a. Should include a consideration of the implications and consequences of your answer to the question at hand. b. Should result in an answer to the question at hand that doesn’t conflict with alternative possible answers that you had previously come across. c. Is optional. d. All of the above. 20. Which one of the following statements about the role of communication in the process of critical thinking is false? a. Communication can play a role, but more often than not its role is not important. b. Communication is typically key at the end of the critical thinking process when you let others know what you have concluded. c. Communication is essential in the information gathering part of the critical thinking process. d. Communication is useful in sorting through information and constructing an answer to the question at hand.