Exam (elaborations)

Test Bank for Exploring Macroeconomics, 8th Edition Sexton (All Chapters included)

8 views 0 purchase

Course
International Economics

Institution
International Economics

Complete Test Bank for Exploring Macroeconomics, 8th Edition by Robert L. Sexton ; ISBN13: 9781544337722. (Full Chapters included Ch 1 to 21).....Chapter 1: The Role and Method of Economics. Chapter 2: Economics: Eight Powerful Ideas. Chapter 3: Scarcity, Trade-Offs, and Production Possibilities....

[Show more]

Preview 3 out of 1170 pages

View example

Uploaded on December 27, 2023
Number of pages 1170
Written in 2019/2020
Type Exam (elaborations)
Contains Questions & answers

test
bank
testbank
exploring
macroeconomics
exploring macroeconomics
8th edition
sexton
9781544337722
quiz bank
exam practice
tests
quizzes
test bank
8e
exam bank
practice quizzes

Institution International Economics
Course International Economics

mizhouubcca

Member since 1 year 679 documents sold

CA$42.48

Added

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

TEST BANK

Exploring Macroeconomics
8th Edition by Robert L. Sexton

Complete Chapters Test Bank
are included (Ch 1 to 21)

** Immediate Download
** Swift Response
** All Chapters included

,Chapter 1: The Role and Method of Economics
Test Bank

Multiple Choice

1. Which of the following is an accurate definition of a resource?
a. an export of goods and services
b. an import of goods and services
c. an input used to produce goods and services
d. an output made from the production of goods and services
Ans: C
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Knowledge
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Easy

2. Robert uses his drawing skill to create medical illustrations for a company that makes
medical equipment. Robert’s drawing skill is an example of ______.
a. scarcity
b. a resource
c. an output
d. an aggregate
Ans: B
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Comprehension
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Medium

3. The situation that exists because our unlimited wants exceed our limited resources is
called ______.
a. a correlation
b. an input
c. a shortage
d. scarcity
Ans: D
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Knowledge
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Easy

, 4. Which of the following are three key components of the economic problem?
a. scarcity; choice; giving up valuable opportunities
b. surplus; choice; competing opportunities
c. scarcity; competing opportunities; income
d. surplus; income; giving up valuable opportunities
Ans: A
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Comprehension
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Medium

5. Economics is sometimes called the study of choice. This means we all make choices
because of ______.
a. income
b. opportunities
c. scarcity
d. surplus
Ans: C
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Comprehension
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Medium

6. Which of the following examples best shows scarcity?
a. Clara buys a dress for a bargain price.
b. Juan decides to save 20 percent of his limited income.
c. Sosuke finds a quarter on the sidewalk.
d. Lucia runs out of dishwashing liquid right before a big party.
Ans: B
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.
REF: Cognitive Domain: Application
Answer Location: Economics—A Word with Many Different Meanings
Difficulty Level: Medium

7. Which of the following is the unifying issue of economics?
a. income
b. opportunities
c. resources
d. choices
Ans: D
KEY: Learning Objective: 1.1: Define and describe what is meant by the term
economics.

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 CA$42.48. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Exam (elaborations)

Test Bank for Exploring Macroeconomics, 8th Edition Sexton (All Chapters included)

Document information

Subjects

Written for

Seller

Reviews received

Content preview