DOWNLOAD THE Test Bank for Economics 2nd Edition Karlan
z z z z z z z z
Chapter 02 Test Bank
z z z
Student:z
1. Thezinvisiblezhandzrefersztozthezcoordinationzthatzoccurszfrom:
A. everyonezworkingzinzhiszorzherzownzself-interest.
B. azgovernmentzagencyzfindingzefficiencies.
C. everyonezworkingzforzthezoverallzgoodzofzsociety.
D. azgovernmentzcoordinatingzeconomiczactivity.
2. Thezconceptszofzspecializationzandzgainszfromztradezcanzbezappliedzto:
A. internationalztrade.
B. whyzglobalizationzhaszexpandedzrecently.
C. consumerzdecisions.
D. householdzdecisions.
3. Thezconceptzofzthezinvisiblezhandzwaszfirstzintroducedztozeconomicszby:
A. DavidzRicardo.
B. AdamzSmith.
C. ThomaszMalthus.
D. MiltonzFriedman.
4. Azproductionzpossibilitieszfrontierziszazlinezorzcurvezthat:
A. showszallzthezpossiblezcombinationszofzoutputszthatzcanzbezproducedzusingzallzavailablezresources.
B. showszwhatzcanzbezproducedzwhenzallzavailablezresourceszarezefficientlyzused.
C. showszthezbestzcombinationszofzoutputszthatzcanzbezproducedzusingzallzavailablezresources.
D. explainszwhyzsocietieszmakezthezchoicesztheyzdo.
5.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zThezfactzthatzthezlinezslopeszdo
wnwardzdisplayszwhichzeconomiczconcept?
A. Productionzpossibilities
B. Trade-offs
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C. Specialization
D. Efficiency
6.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzfacedzwithzthiszcurvez
couldzchooseztozproduce:
A. A,zB,zorzD.
B. A,zB,zorzC.
C. A,zD,zorzC.
D. B,zC,zorzD.
7.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzpointszarezefficientzandza
ttainablezwithzexistingzresources?
A. OnlyzpointzB.
B. OnlyzpointzA.
C. PointszAzandzD.
D. PointszA,zC,zandzD.
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8.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzfacedzwithzthiszcurvez
currently:
A. cannotz obtainzpointzB.
B. canzonlyzobtainzpointzC.
C. canzonlyzobtainzpointzDzorzpointzA.
D. cannotzobtainzpointzC.
9.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzofzthezfollowingzstateme
ntszisztrue?
A. ProducingzatzpointzDzwouldzbezinefficient.
B. ProducingzatzpointzCzwouldzbezinefficient.
C. ProducingzatzpointzBzwouldzbezinefficient.
D. ProducingzatzpointzAzwouldzbezinefficient.
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10.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzofzthezfollowingzstateme
ntsziszcurrentlyztrue?
A. ProducingzatzpointzAziszthezbestzchoice,zbecausezsomezofzbothzitemszarezmade.
B. ProducingzatzpointzDzwouldzbezinefficient,zsinceznozbookszwouldzbezproduced.
C. ProducingzatzpointzCziszthezbestzchoice,zbecausezit'szclosestztozthezmiddle.
D. ProducingzatzpointzBziszimpossible.
11. Thezslopezofzazproductionzpossibilitieszfrontierzmeasures:
A. thezopportunityzcostzofzproducingzonezgoodzinztermszofzthezotherzgood.
B. theztrade-offzinzthezconsumptionofzonezgoodzversuszthezotherzgood
C. howzmuchzofzthezresourceszmustzbezusedzinzorderztozproducezonezthezgoods.
D. inefficientzproductionzofzazgood.
12.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzshouldzchooseztozpro
duce:
A. atzpointzCzbecausezitziszthezsafest.
B. atzpointzBzbecausezitzrepresentszthezmostzthezsocietyzcanzproduce.
C. atzanyzpointzthatzproducezsomezofzeachzgood.
D. atzanyzpointzonzthezfrontierzratherzthanzinsidezit.
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HillzEducation.zAllzrightszreserved.zNozreproductionzorzdistributionzwithoutzthezpriorzwrittenzconsentzofzMcGraw-HillzEducation.
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z z z z z z z z
Chapter 02 Test Bank
z z z
Student:z
1. Thezinvisiblezhandzrefersztozthezcoordinationzthatzoccurszfrom:
A. everyonezworkingzinzhiszorzherzownzself-interest.
B. azgovernmentzagencyzfindingzefficiencies.
C. everyonezworkingzforzthezoverallzgoodzofzsociety.
D. azgovernmentzcoordinatingzeconomiczactivity.
2. Thezconceptszofzspecializationzandzgainszfromztradezcanzbezappliedzto:
A. internationalztrade.
B. whyzglobalizationzhaszexpandedzrecently.
C. consumerzdecisions.
D. householdzdecisions.
3. Thezconceptzofzthezinvisiblezhandzwaszfirstzintroducedztozeconomicszby:
A. DavidzRicardo.
B. AdamzSmith.
C. ThomaszMalthus.
D. MiltonzFriedman.
4. Azproductionzpossibilitieszfrontierziszazlinezorzcurvezthat:
A. showszallzthezpossiblezcombinationszofzoutputszthatzcanzbezproducedzusingzallzavailablezresources.
B. showszwhatzcanzbezproducedzwhenzallzavailablezresourceszarezefficientlyzused.
C. showszthezbestzcombinationszofzoutputszthatzcanzbezproducedzusingzallzavailablezresources.
D. explainszwhyzsocietieszmakezthezchoicesztheyzdo.
5.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zThezfactzthatzthezlinezslopeszdo
wnwardzdisplayszwhichzeconomiczconcept?
A. Productionzpossibilities
B. Trade-offs
2-1
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HillzEducation.zAllzrightszreserved.zNozreproductionzorzdistributionzwithoutzthezpriorzwrittenzconsentzofzMcGraw-HillzEducation.
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C. Specialization
D. Efficiency
6.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzfacedzwithzthiszcurvez
couldzchooseztozproduce:
A. A,zB,zorzD.
B. A,zB,zorzC.
C. A,zD,zorzC.
D. B,zC,zorzD.
7.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzpointszarezefficientzandza
ttainablezwithzexistingzresources?
A. OnlyzpointzB.
B. OnlyzpointzA.
C. PointszAzandzD.
D. PointszA,zC,zandzD.
2-2
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8.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzfacedzwithzthiszcurvez
currently:
A. cannotz obtainzpointzB.
B. canzonlyzobtainzpointzC.
C. canzonlyzobtainzpointzDzorzpointzA.
D. cannotzobtainzpointzC.
9.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzofzthezfollowingzstateme
ntszisztrue?
A. ProducingzatzpointzDzwouldzbezinefficient.
B. ProducingzatzpointzCzwouldzbezinefficient.
C. ProducingzatzpointzBzwouldzbezinefficient.
D. ProducingzatzpointzAzwouldzbezinefficient.
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10.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zWhichzofzthezfollowingzstateme
ntsziszcurrentlyztrue?
A. ProducingzatzpointzAziszthezbestzchoice,zbecausezsomezofzbothzitemszarezmade.
B. ProducingzatzpointzDzwouldzbezinefficient,zsinceznozbookszwouldzbezproduced.
C. ProducingzatzpointzCziszthezbestzchoice,zbecausezit'szclosestztozthezmiddle.
D. ProducingzatzpointzBziszimpossible.
11. Thezslopezofzazproductionzpossibilitieszfrontierzmeasures:
A. thezopportunityzcostzofzproducingzonezgoodzinztermszofzthezotherzgood.
B. theztrade-offzinzthezconsumptionofzonezgoodzversuszthezotherzgood
C. howzmuchzofzthezresourceszmustzbezusedzinzorderztozproducezonezthezgoods.
D. inefficientzproductionzofzazgood.
12.
Considerzthezproductionzpossibilitieszfrontierzdisplayedzinzthezfigurezshown.zAzsocietyzshouldzchooseztozpro
duce:
A. atzpointzCzbecausezitziszthezsafest.
B. atzpointzBzbecausezitzrepresentszthezmostzthezsocietyzcanzproduce.
C. atzanyzpointzthatzproducezsomezofzeachzgood.
D. atzanyzpointzonzthezfrontierzratherzthanzinsidezit.
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HillzEducation.zAllzrightszreserved.zNozreproductionzorzdistributionzwithoutzthezpriorzwrittenzconsentzofzMcGraw-HillzEducation.
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