Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
Chapter 02
p
pResource Utilizatio
p
n
MultiplepChoicepQuestions
1. Ourpeconomyp operatesponpitspproductionppossibilitypcurve.
A. always
B. sometimes
C. never
2. Whichpstatementpisptrue?
A. EntrepreneurialpabilitypispinpshortpsupplypinpthepU.S.
B. Land,plaborpandpcapitalpmaypbepconsideredppassivepresources.
C. Thepconceptpofpopportunitypcostpispirrelevantpwhenptherepispscarcity.
D. Nonepofpthesepstatementspareptrue.
3. Whichponepofpthepfollowingpispthepmostpaccurate?
A. Inprecentpyearspourpeconomypwaspatpfullpemploymentpuntilp2010.
B. Ourpeconomypoperatedpoutsidepofpitspproductionppossibilitiespcurvepinp2009pandp2010.
C. Ourpeconomypispcurrentlypoperatingponpitspproductionppossibilitiespcurve.
D. Ourpeconomypispcurrentlypoperationpinsidepitspproductionppossibilitiespcurve.
4. Inpourpeconomy
A. therepispnopneedptopeconomize.
B. weprarelyphaveptopeconomize.
C. onlyptheprichphavepto.
D. nearlypeveryonephasptopeconomize.
5. Theptermp"thepaffluentpsociety"pwaspcoinedpby
A. MichaelpHarrington.
B. JohnpKennethpGalbraith.
C. KarlpMarx.
D. AdampSmith.
2-1
,Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
6. Eachpofpthepfollowingpispanpexamplepofpanpeconomicpresourcepexcept
A. land.
B. money.
C. capital.
D. labor.
7. StatementpI.pEmploymentpdiscriminationpcausespunderemployment.
StatementpII.pThepconceptpofpopportunitypcostphasplittlepvaliditypinpthepglobalpeconomy.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
8. Ourpeconomypwouldpbepoperatingpatpfullpemploymentpwithplaborpunemploymentpratepofp
percentpandpapcapacityputilizationpratepofp percent.
A. 5;p95
B. 5;p85
C. 10;p95
D. 10;p85
9. Whichpstatementpisptrue?
A. Onpthepproductionppossibilitiespfrontierpwephavepzeropunemployment.
B. Onpthepproductionppossibilitiespfrontierp95ppercentpofptheplaborpforcepispemployed.
C. Topgetpoutpofpaprecession,pwepmustpproducepatpsomeppointpbeyondpourpproductionpp
ossibilitiespfrontier.
D. Tophavepeconomicpgrowth,pwepmustppushpthepproductionppossibilitiespfrontierpinward.
10. Inporderptopraisepourpratepofpeconomicpgrowthpwepwouldpneedpto
A. increaseptheplevelpofpcapital.
B. reduceptheplevelpofplabor.
C. spendpmoreponpmilitarypgoods.
D. spendpmoreponpconsumerpgoods.
2-2
,Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
11. ThepmainpreasonpourpstandardpofplivingpispsopmuchphigherpthanpthatpofpIndiapandpChinapispt
hatpwephavepmore
A. land.
B. labor.
C. capital.
D. money.
12. Whichpstatementpisptrue?
A. Itpispeasierptopattainpfullpemploymentpthanpfullpproduction.
B. EmploymentpdiscriminationpnoplongerpexistspinpthepU.S.plaborpmarket.
C. Weparepusuallypoperatingponpourpproductionppossibilitiespfrontier.
D. Nonepofpthesepstatementspareptrue.
13. Thepmainpeffectpofpemploymentpdiscriminationpis
A. Unemployment.
B. Underemployment.
C. Greaterpefficiency.
D. Greaterpproduction.
14. Weptemporarilypoperatedpoutsidepourpproductionppossibilitiespfrontierpin
A. 1933.
B. 1943.
C. 1973.
D. 1982.
15. Whichpstatementpisptrue?
A. Thepeconomicpproblempisplimitedptoppoverty.
B. ScarcitypispnoplongerpanpeconomicpproblempinpthepUnitedpStates.
C. Ifpwepallphadpmorepmoneyptherepwouldpbeplesspscarcity.
D. Nonepofpthesepstatementspareptrue.
2-3
, Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
16. StatementpI.pWhenpU.S.punemploymentpratepispfiveppercent,pitpattainspfullpemployment.p
StatementpII.pFullpemploymentpandpfullpproductionpmeanpvirtuallypthepsamepthing.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
17. StatementpI.pEntrepreneurialpabilitypispnotpapresource.
StatementpII.pVirtuallypallpofpourpresourcesparepburiedpunderpthepground.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
18. Whichpstatementpisptrue?
A. Weparepusuallypinsidepourpproductionppossibilitiespcurve.
B. Weparepusuallypoutsidepourpproductionppossibilitiespcurve.
C. Weparepusuallyponpourpproductionppossibilitiespcurve.
D. Nonepofpthepstatementspareptrue.
2-4
Chapter 02
p
pResource Utilizatio
p
n
MultiplepChoicepQuestions
1. Ourpeconomyp operatesponpitspproductionppossibilitypcurve.
A. always
B. sometimes
C. never
2. Whichpstatementpisptrue?
A. EntrepreneurialpabilitypispinpshortpsupplypinpthepU.S.
B. Land,plaborpandpcapitalpmaypbepconsideredppassivepresources.
C. Thepconceptpofpopportunitypcostpispirrelevantpwhenptherepispscarcity.
D. Nonepofpthesepstatementspareptrue.
3. Whichponepofpthepfollowingpispthepmostpaccurate?
A. Inprecentpyearspourpeconomypwaspatpfullpemploymentpuntilp2010.
B. Ourpeconomypoperatedpoutsidepofpitspproductionppossibilitiespcurvepinp2009pandp2010.
C. Ourpeconomypispcurrentlypoperatingponpitspproductionppossibilitiespcurve.
D. Ourpeconomypispcurrentlypoperationpinsidepitspproductionppossibilitiespcurve.
4. Inpourpeconomy
A. therepispnopneedptopeconomize.
B. weprarelyphaveptopeconomize.
C. onlyptheprichphavepto.
D. nearlypeveryonephasptopeconomize.
5. Theptermp"thepaffluentpsociety"pwaspcoinedpby
A. MichaelpHarrington.
B. JohnpKennethpGalbraith.
C. KarlpMarx.
D. AdampSmith.
2-1
,Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
6. Eachpofpthepfollowingpispanpexamplepofpanpeconomicpresourcepexcept
A. land.
B. money.
C. capital.
D. labor.
7. StatementpI.pEmploymentpdiscriminationpcausespunderemployment.
StatementpII.pThepconceptpofpopportunitypcostphasplittlepvaliditypinpthepglobalpeconomy.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
8. Ourpeconomypwouldpbepoperatingpatpfullpemploymentpwithplaborpunemploymentpratepofp
percentpandpapcapacityputilizationpratepofp percent.
A. 5;p95
B. 5;p85
C. 10;p95
D. 10;p85
9. Whichpstatementpisptrue?
A. Onpthepproductionppossibilitiespfrontierpwephavepzeropunemployment.
B. Onpthepproductionppossibilitiespfrontierp95ppercentpofptheplaborpforcepispemployed.
C. Topgetpoutpofpaprecession,pwepmustpproducepatpsomeppointpbeyondpourpproductionpp
ossibilitiespfrontier.
D. Tophavepeconomicpgrowth,pwepmustppushpthepproductionppossibilitiespfrontierpinward.
10. Inporderptopraisepourpratepofpeconomicpgrowthpwepwouldpneedpto
A. increaseptheplevelpofpcapital.
B. reduceptheplevelpofplabor.
C. spendpmoreponpmilitarypgoods.
D. spendpmoreponpconsumerpgoods.
2-2
,Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
11. ThepmainpreasonpourpstandardpofplivingpispsopmuchphigherpthanpthatpofpIndiapandpChinapispt
hatpwephavepmore
A. land.
B. labor.
C. capital.
D. money.
12. Whichpstatementpisptrue?
A. Itpispeasierptopattainpfullpemploymentpthanpfullpproduction.
B. EmploymentpdiscriminationpnoplongerpexistspinpthepU.S.plaborpmarket.
C. Weparepusuallypoperatingponpourpproductionppossibilitiespfrontier.
D. Nonepofpthesepstatementspareptrue.
13. Thepmainpeffectpofpemploymentpdiscriminationpis
A. Unemployment.
B. Underemployment.
C. Greaterpefficiency.
D. Greaterpproduction.
14. Weptemporarilypoperatedpoutsidepourpproductionppossibilitiespfrontierpin
A. 1933.
B. 1943.
C. 1973.
D. 1982.
15. Whichpstatementpisptrue?
A. Thepeconomicpproblempisplimitedptoppoverty.
B. ScarcitypispnoplongerpanpeconomicpproblempinpthepUnitedpStates.
C. Ifpwepallphadpmorepmoneyptherepwouldpbeplesspscarcity.
D. Nonepofpthesepstatementspareptrue.
2-3
, Fullp filep atp http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin
16. StatementpI.pWhenpU.S.punemploymentpratepispfiveppercent,pitpattainspfullpemployment.p
StatementpII.pFullpemploymentpandpfullpproductionpmeanpvirtuallypthepsamepthing.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
17. StatementpI.pEntrepreneurialpabilitypispnotpapresource.
StatementpII.pVirtuallypallpofpourpresourcesparepburiedpunderpthepground.
A. StatementpIpisptruepandpstatementpIIpispfalse.
B. StatementpIIpisptruepandpstatementpIpispfalse.
C. Bothpstatementspareptrue.
D. Bothpstatementsparepfalse.
18. Whichpstatementpisptrue?
A. Weparepusuallypinsidepourpproductionppossibilitiespcurve.
B. Weparepusuallypoutsidepourpproductionppossibilitiespcurve.
C. Weparepusuallyponpourpproductionppossibilitiespcurve.
D. Nonepofpthepstatementspareptrue.
2-4
