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Chapter 02t t
Resource Utilization
t
MultipletChoicetQuestions
1. Ourteconomyt operatestontitstproductiontpossibilitytcurve.
A. always
B. sometimes
C. never
2. Whichtstatementtisttrue?
A. EntrepreneurialtabilitytistintshorttsupplytintthetU.S.
B. Land,tlabortandtcapitaltmaytbetconsideredtpassivetresources.
C. Thetconcepttoftopportunitytcosttistirrelevanttwhenttheretistscarcity.
D. Nonetoftthesetstatementstarettrue.
3. Whichtonetoftthetfollowingtistthetmosttaccurate?
A. Intrecenttyearstourteconomytwastattfulltemploymenttuntilt2010.
B. Ourteconomytoperatedtoutsidetoftitstproductiontpossibilitiestcurvetint2009tandt2010.
C. Ourteconomytistcurrentlytoperatingtontitstproductiontpossibilitiestcurve.
D. Ourteconomytistcurrentlytoperationtinsidetitstproductiontpossibilitiestcurve.
4. Intourteconomy
A. theretistnotneedttoteconomize.
B. wetrarelythavettoteconomize.
C. onlytthetrichthavetto.
D. nearlyteveryonethasttoteconomize.
5. Thettermt"thetaffluenttsociety"twastcoinedtby
A. MichaeltHarrington.
B. JohntKennethtGalbraith.
C. KarltMarx.
D. AdamtSmith.
2-1
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6. Eachtoftthetfollowingtistantexampletoftanteconomictresourcetexcept
A. land.
B. money.
C. capital.
D. labor.
7. StatementtI.tEmploymenttdiscriminationtcausestunderemployment.
StatementtII.tThetconcepttoftopportunitytcostthastlittletvaliditytintthetglobalteconomy.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
8. Ourteconomytwouldtbetoperatingtattfulltemploymenttwithtlabortunemploymenttratetoft
percenttandtatcapacitytutilizationtratetoft percent.
A. 5;t95
B. 5;t85
C. 10;t95
D. 10;t85
9. Whichtstatementtisttrue?
A. Ontthetproductiontpossibilitiestfrontiertwethavetzerotunemployment.
B. Ontthetproductiontpossibilitiestfrontiert95tpercenttoftthetlabortforcetistemployed.
C. Totgettouttoftatrecession,twetmusttproducetattsometpointtbeyondtourtproductiontposs
ibilitiestfrontier.
D. Tothaveteconomictgrowth,twetmusttpushtthetproductiontpossibilitiestfrontiertinward.
10. Intorderttotraisetourtratetofteconomictgrowthtwetwouldtneedtto
A. increasetthetleveltoftcapital.
B. reducetthetleveltoftlabor.
C. spendtmoretontmilitarytgoods.
D. spendtmoretontconsumertgoods.
2-2
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11. ThetmaintreasontourtstandardtoftlivingtistsotmuchthighertthantthattoftIndiatandtChinatistthatt
wethavetmore
A. land.
B. labor.
C. capital.
D. money.
12. Whichtstatementtisttrue?
A. Ittisteasierttotattaintfulltemploymenttthantfulltproduction.
B. EmploymenttdiscriminationtnotlongertexiststintthetU.S.tlabortmarket.
C. Wetaretusuallytoperatingtontourtproductiontpossibilitiestfrontier.
D. Nonetoftthesetstatementstarettrue.
13. Thetmainteffecttoftemploymenttdiscriminationtis
A. Unemployment.
B. Underemployment.
C. Greatertefficiency.
D. Greatertproduction.
14. Wettemporarilytoperatedtoutsidetourtproductiontpossibilitiestfrontiertin
A. 1933.
B. 1943.
C. 1973.
D. 1982.
15. Whichtstatementtisttrue?
A. Theteconomictproblemtistlimitedttotpoverty.
B. ScarcitytistnotlongertanteconomictproblemtintthetUnitedtStates.
C. Iftwetallthadtmoretmoneyttheretwouldtbetlesstscarcity.
D. Nonetoftthesetstatementstarettrue.
2-3
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16. StatementtI.tWhentU.S.tunemploymenttratetistfivetpercent,tittattainstfulltemployment.tStat
ementtII.tFulltemploymenttandtfulltproductiontmeantvirtuallytthetsametthing.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
17. StatementtI.tEntrepreneurialtabilitytistnottatresource.
StatementtII.tVirtuallytalltoftourtresourcestaretburiedtundertthetground.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
18. Whichtstatementtisttrue?
A. Wetaretusuallytinsidetourtproductiontpossibilitiestcurve.
B. Wetaretusuallytoutsidetourtproductiontpossibilitiestcurve.
C. Wetaretusuallytontourtproductiontpossibilitiestcurve.
D. Nonetoftthetstatementstarettrue.
2-4
Chapter 02t t
Resource Utilization
t
MultipletChoicetQuestions
1. Ourteconomyt operatestontitstproductiontpossibilitytcurve.
A. always
B. sometimes
C. never
2. Whichtstatementtisttrue?
A. EntrepreneurialtabilitytistintshorttsupplytintthetU.S.
B. Land,tlabortandtcapitaltmaytbetconsideredtpassivetresources.
C. Thetconcepttoftopportunitytcosttistirrelevanttwhenttheretistscarcity.
D. Nonetoftthesetstatementstarettrue.
3. Whichtonetoftthetfollowingtistthetmosttaccurate?
A. Intrecenttyearstourteconomytwastattfulltemploymenttuntilt2010.
B. Ourteconomytoperatedtoutsidetoftitstproductiontpossibilitiestcurvetint2009tandt2010.
C. Ourteconomytistcurrentlytoperatingtontitstproductiontpossibilitiestcurve.
D. Ourteconomytistcurrentlytoperationtinsidetitstproductiontpossibilitiestcurve.
4. Intourteconomy
A. theretistnotneedttoteconomize.
B. wetrarelythavettoteconomize.
C. onlytthetrichthavetto.
D. nearlyteveryonethasttoteconomize.
5. Thettermt"thetaffluenttsociety"twastcoinedtby
A. MichaeltHarrington.
B. JohntKennethtGalbraith.
C. KarltMarx.
D. AdamtSmith.
2-1
,Fullt filet att http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
6. Eachtoftthetfollowingtistantexampletoftanteconomictresourcetexcept
A. land.
B. money.
C. capital.
D. labor.
7. StatementtI.tEmploymenttdiscriminationtcausestunderemployment.
StatementtII.tThetconcepttoftopportunitytcostthastlittletvaliditytintthetglobalteconomy.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
8. Ourteconomytwouldtbetoperatingtattfulltemploymenttwithtlabortunemploymenttratetoft
percenttandtatcapacitytutilizationtratetoft percent.
A. 5;t95
B. 5;t85
C. 10;t95
D. 10;t85
9. Whichtstatementtisttrue?
A. Ontthetproductiontpossibilitiestfrontiertwethavetzerotunemployment.
B. Ontthetproductiontpossibilitiestfrontiert95tpercenttoftthetlabortforcetistemployed.
C. Totgettouttoftatrecession,twetmusttproducetattsometpointtbeyondtourtproductiontposs
ibilitiestfrontier.
D. Tothaveteconomictgrowth,twetmusttpushtthetproductiontpossibilitiestfrontiertinward.
10. Intorderttotraisetourtratetofteconomictgrowthtwetwouldtneedtto
A. increasetthetleveltoftcapital.
B. reducetthetleveltoftlabor.
C. spendtmoretontmilitarytgoods.
D. spendtmoretontconsumertgoods.
2-2
,Fullt filet att http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
11. ThetmaintreasontourtstandardtoftlivingtistsotmuchthighertthantthattoftIndiatandtChinatistthatt
wethavetmore
A. land.
B. labor.
C. capital.
D. money.
12. Whichtstatementtisttrue?
A. Ittisteasierttotattaintfulltemploymenttthantfulltproduction.
B. EmploymenttdiscriminationtnotlongertexiststintthetU.S.tlabortmarket.
C. Wetaretusuallytoperatingtontourtproductiontpossibilitiestfrontier.
D. Nonetoftthesetstatementstarettrue.
13. Thetmainteffecttoftemploymenttdiscriminationtis
A. Unemployment.
B. Underemployment.
C. Greatertefficiency.
D. Greatertproduction.
14. Wettemporarilytoperatedtoutsidetourtproductiontpossibilitiestfrontiertin
A. 1933.
B. 1943.
C. 1973.
D. 1982.
15. Whichtstatementtisttrue?
A. Theteconomictproblemtistlimitedttotpoverty.
B. ScarcitytistnotlongertanteconomictproblemtintthetUnitedtStates.
C. Iftwetallthadtmoretmoneyttheretwouldtbetlesstscarcity.
D. Nonetoftthesetstatementstarettrue.
2-3
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16. StatementtI.tWhentU.S.tunemploymenttratetistfivetpercent,tittattainstfulltemployment.tStat
ementtII.tFulltemploymenttandtfulltproductiontmeantvirtuallytthetsametthing.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
17. StatementtI.tEntrepreneurialtabilitytistnottatresource.
StatementtII.tVirtuallytalltoftourtresourcestaretburiedtundertthetground.
A. StatementtItisttruetandtstatementtIItistfalse.
B. StatementtIItisttruetandtstatementtItistfalse.
C. Bothtstatementstarettrue.
D. Bothtstatementstaretfalse.
18. Whichtstatementtisttrue?
A. Wetaretusuallytinsidetourtproductiontpossibilitiestcurve.
B. Wetaretusuallytoutsidetourtproductiontpossibilitiestcurve.
C. Wetaretusuallytontourtproductiontpossibilitiestcurve.
D. Nonetoftthetstatementstarettrue.
2-4
