Test Bank for Principles of Macroeconomics 2nd Edition Openstax (All Chapters included)
6 views 0 purchase
Course
Microeconomics
Institution
Microeconomics
This pdf includes the multiple choice answers of Principles of Macroeconomics 2nd edition...Complete Test Bank for Principles of Macroeconomics 2nd Edition by Openstax ; ISBN13: 9781938168253.....(Full Chapters included Chapter 1 to 21)...1.Welcome to Economics!
2.Choice in a World of Scarcity
3....
4. Because of their relatively small national economies, which of the following is most likely
considered to be the most important factor for Belgium, Korea, and Canada to take full advantage
of specialization?
A. division of labour
B. international trade
C. economies of scale
D. command economy
Answer: B
Reference:
Explanation:
Type: Multiple Choice Difficulty: Medium Category: Analyze
5. In a discussion of economics, which of the following would exert the most influence on an
individual firm's decision to hire workers?
A. wage levels
B. the macroeconomy
C. the firm's income
D. household income
6. In a _______________________, most economic decisions about what to produce, how to produce it,
and for whom to produce it are made by buyers and sellers.
A. market-oriented economy
, B. macroeconomy
C. microeconomy
D. command economy
8. Which of the following is generally accepted as a valid criticism of the production of useful
goods and services?
A. government involvement
B. the black market
C. environmental pollution
D. economic freedom
Answer: C
Reference:
Explanation:
Type: Multiple Choice Difficulty: Medium Category: Evaluate
9. In the first chapter of The Wealth of Nations, Smith introduces the idea of the __________, which
means the way in which the work required to produce a good or service is divided into a number
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mizhouubcca. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.49. You're not tied to anything after your purchase.
