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Test Bank for Macroeconomics, 3rd edition by Daron Acemoglu $29.49   Add to cart
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Test Bank for Macroeconomics, 3rd edition by Daron Acemoglu
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  • Macroeconomics
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  • Macroeconomics

Test Bank for Macroeconomics 3e 3rd edition by Daron Acemoglu, John List. ISBN-13: 6123 Full Chapters test bank included PART 1: INTRODUCTION TO ECONOMICS The Principles and Practice of Economics Economic Science: Using Data and Models to Understand the World Optimization: Trying to Do the...

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  • May 6, 2023
  • 810
  • 2022/2023
  • Exam (elaborations)
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  • Macroeconomics
  • Macroeconomics

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Macroeconomics, 3e (Acemoglu/Laibson/List)
Chapter 1 The Principles and Practice of Economics

1.1 The Scope of Economics

1) Which of the following statements is TRUE?
A) All economic agents are necessarily individuals.
B) A worker who shirks work is not an economic agent.
C) A government is an example of an economic agent.
D) A street gang is not an economic agent.
Answer: C
Difficulty: Easy
AACSB: Analytical Thinking
Topic: Economic Agents and Economic Resources

2) Which of the following best describes scarce resources?
A) Resources that most people cannot afford to buy
B) Resources that can only be distributed efficiently by the government
C) Resources for which the quantity demanded is the same for all economic agents
D) Resources for which the quantity that people want exceeds the quantity that is freely available
Answer: D
Difficulty: Easy
AACSB: Analytical Thinking
Topic: Economic Agents and Economic Resources

3) Which of the following is NOT a scarce resource?
A) Gold
B) Pollution
C) Petroleum
D) iPhones
Answer: B
Difficulty: Easy
AACSB: Application of Knowledge
Topic: Economic Agents and Economic Resources

4) In economics, scarcity refers to the situation of ________.
A) making the best use of limited information
B) having more wants than the amount of available resources
C) the government rationing available goods and services
D) sellers setting the prices of their products too high for people to be able to afford them
Answer: B
Difficulty: Medium
AACSB: Analytical Thinking
Topic: Economic Agents and Economic Resources




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