DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1)
Refer to the budget line shown in the diagram. If the consumer's money income is $100, the
1) ______
A) prices of C and D cannot be determined.
B) price of C is $5 and the price of D is $10.
C) consumer can obtain a combination of 5 units of both C and D.
D) price of C is $20 and the price of D is $10.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Version 1 1
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,DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
2)
Suppose you have a money income of $20, all of which you spend on Coke and popcorn. In the
diagram, the prices of Coke and popcorn, respectively, are
2) ______
A) $1.00 and $2.00.
B) $2.00 and $1.00.
C) $2.00 and $4.00.
D) $1.00 and $0.50.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
3) Assume the price of product Y (the quantity of which is on the vertical axis) is $10 and
the price of product X (the quantity of which is on the horizontal axis) is $5. Also assume that
money income is $30. The absolute value of the slope of the resulting budget line is
3) ______
Version 1 2
mynursytest.store
,DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
A) 2.
B) 1/2.
C) 3.
D) 6.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Bloom's : Analyze
4) Suppose that Julia receives a $40 gift card for the local coffee shop, where she only buys
lattes and muffins. If the price of a latte is $4 and the price of a muffin is $2, then we can
conclude that Julia
4) ______
A) should only buy muffins.
B) should only buy lattes.
C) can buy 10 lattes or 20 muffins if she chooses to buy only one of the two goods.
D) can buy 10 lattes and 20 muffins with her $40 gift card.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Version 1 3
mynursytest.store
, DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
5) Camille is at the candy store with Grandma Mary, who offers to buy her $10 worth of
candy. If lollipops are $1 each and candy bars are $2 each, what combination of candy can
Camille's Grandma Mary buy her?
5) ______
A) ten lollipops and five candy bars
B) four lollipops and three candy bars
C) three lollipops and four candy bars
D) two lollipop and five candy bars
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
6) Assume that a consumer has a given budget or income of $24 and that she can buy only
two goods, apples or bananas. The price of an apple is $3.00 and the price of a banana is $2.00.
If the consumer spent all of her budget on just apples or just bananas, how many apples or
bananas maximum would she be able to buy?
6) ______
A) 12 apples or 8 bananas
B) 6 apples or 6 bananas
C) 4 apples or 6 bananas
D) 8 apples or 12 bananas
Version 1 4
mynursytest.store
Economics 22nd Edition by McConnell CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1)
Refer to the budget line shown in the diagram. If the consumer's money income is $100, the
1) ______
A) prices of C and D cannot be determined.
B) price of C is $5 and the price of D is $10.
C) consumer can obtain a combination of 5 units of both C and D.
D) price of C is $20 and the price of D is $10.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Version 1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
2)
Suppose you have a money income of $20, all of which you spend on Coke and popcorn. In the
diagram, the prices of Coke and popcorn, respectively, are
2) ______
A) $1.00 and $2.00.
B) $2.00 and $1.00.
C) $2.00 and $4.00.
D) $1.00 and $0.50.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
3) Assume the price of product Y (the quantity of which is on the vertical axis) is $10 and
the price of product X (the quantity of which is on the horizontal axis) is $5. Also assume that
money income is $30. The absolute value of the slope of the resulting budget line is
3) ______
Version 1 2
mynursytest.store
,DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
A) 2.
B) 1/2.
C) 3.
D) 6.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Bloom's : Analyze
4) Suppose that Julia receives a $40 gift card for the local coffee shop, where she only buys
lattes and muffins. If the price of a latte is $4 and the price of a muffin is $2, then we can
conclude that Julia
4) ______
A) should only buy muffins.
B) should only buy lattes.
C) can buy 10 lattes or 20 muffins if she chooses to buy only one of the two goods.
D) can buy 10 lattes and 20 muffins with her $40 gift card.
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
Version 1 3
mynursytest.store
, DOWNLOAD THE Test Bank for Economics 22nd Edition McConnell
Economics 22nd Edition by McConnell CH01
5) Camille is at the candy store with Grandma Mary, who offers to buy her $10 worth of
candy. If lollipops are $1 each and candy bars are $2 each, what combination of candy can
Camille's Grandma Mary buy her?
5) ______
A) ten lollipops and five candy bars
B) four lollipops and three candy bars
C) three lollipops and four candy bars
D) two lollipop and five candy bars
Question Details
AACSB : Reflective Thinking
Accessibility : Keyboard Navigation
Test Bank : I
Bloom's : Understand
Difficulty : 02 Medium
Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs, opp
Topic : Individuals Economizing Problem
Accessibility : Screen Reader Compatible
6) Assume that a consumer has a given budget or income of $24 and that she can buy only
two goods, apples or bananas. The price of an apple is $3.00 and the price of a banana is $2.00.
If the consumer spent all of her budget on just apples or just bananas, how many apples or
bananas maximum would she be able to buy?
6) ______
A) 12 apples or 8 bananas
B) 6 apples or 6 bananas
C) 4 apples or 6 bananas
D) 8 apples or 12 bananas
Version 1 4
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