Exam (elaborations)
AP Macroeconomics Final Exam - Multiple Choice Questions and Answers
- Course
- Institution
AP Macroeconomics Final Exam - Multiple Choice Questions and Answers
[Show more]
Content preview
AP Macroeconomics Final Exam -Multiple Choice Questions and Answers
Scarcity iiexists iibecause ii- iiAnswers ii-A. ii
human iiwants iiexceed iithe iiresources iiavailable iito iisatisfy iithem
An iiopportunity iicost iiis ii- iiAnswers ii-C.
the iibenefits iiof iithe iihighest-valued iialternative iiforgone
You iihave iichosen iito iitake iia iitrip iiduring iispring iibreak. iiIf iiyou iihad iinot iigone, iiyou
iiwould iieither iihave iiworked iiat iia iitemporary iijob iior iistudied iifor iiexams. iiThe
iiopportunity iicost iiof iiyour iitrip iiis ii- iiAnswers ii-E.
We iicannot iidetermine iiwhat iithe iiopportunity iicost iiis iiwithout iiknowing iiwhich
iialternative, iiworking iior iistudying, iiyou iiwould iihave iipreferred.
The iieconomic iichoices iimade iiby iiindividuals, iibusinesses, iiand iigovernments iiand iithe
iiinteractions iiof iithose iichoices iianswer iiwhich iithree iimajor iieconomic iiquestions? ii-
iiAnswers ii-B.
What?, iiHow?, iiand iiFor iiWhom?
When iiFord iidecides iito iiproduce iimore iihybrid iicars iithat iirun iion iiboth iigas iiand
iielectricity, iiit iidirectly iianswers iithe ii_____ iiquestion. ii- iiAnswers ii-A.
what
The iiUnited iiStates iiproduces iilarge iiamounts iiof iisoftware. iiBased iion iithis iiobservation,
iiit iiis iipossible iito iistate iithat iithe iiUnited iiStates iihas iidecided iithat ii"software" iiis iipart iiof
iithe iianswer iito iiwhich iieconomic iiquestion? ii- iiAnswers ii-D.
What iigoods iiand iiservices iiare iiproduced?
The iiquestion iiof ii"How iiare iigoods iiand iiservices iiproduced?" iimost iiclosely iiaddresses
iiwhich iiof iithe iifollowing iiissues? ii- iiAnswers ii-B. ii
Should iiFord iiuse iiexpensive iiindustrial iirobots iior iiinexpensive iiMexican iiautoworkers
iito iiproduce iiSUV's?
The iiopportunity iicost iiof iia iidecision iiis iimeasured iiin iiterms iiof ii- iiAnswers ii-C.
, the iinext iibest iithing iigiven iiup.
Mothers iiAgainst iiDrunk iiDrivers ii(MADD) iicampaigned iito iiincrease iithe iilegal iipenalties
iiof iidrunk iidriving. iiThis iisuccessful iicampaign ii____ iiof iidrunk iidriving. ii- iiAnswers ii-C.
increased iithe iimarginal iicost
Which iiof iithe iifollowing iiis iian iiexample iiof iia iisunk iicost? ii- iiAnswers ii-A.
after iiyou iistart iiwatching iia iimovie, iithe ii$8 iiyou iipaid iifor iithe iiticket
The iicost iiof iia iione-unit iiincrease iiin iian iiactivity iiis iicalled iithe ii- iiAnswers ii-C.
marginal iicost.
Correlation iimeans ii- iiAnswers ii-C.
the iivalues iiof iitwo iivariables iimove iiin iia iipredictable iiand iirelated iiway.
By iidonating ii$1,000 iito iithe iiSalvation iiArmy, iiCaroline iireduces iiher iitaxable iiincome.
iiTo iiCaroline, iithe iireduction iiin iiher iitaxable iiincome iiis ii- iiAnswers ii-C.
An iiincentive
In iieconomics, iithere iiare iitwo iitypes iiof iistatements. iiOne iidescribes iiwhat iiis; iithe iiother
iidescribes iiwhat iiought iito iibe. iiThese iistatements iiare ii- iiAnswers ii-D.
positive iiand iinormative
Which iiof iithe iifollowing iiis iiNOT iia iinormative iieconomic iistatement? ii- iiAnswers ii-C.
Teenagers iiare iiresponsible iifor iimost iidriving iifatalities.
Which iiof iithe iifollowing iiis iia iimacroeconomic iitopic? ii- iiAnswers ii-C.
Why iidid iiproduction iiand iijobs iiexpand iirapidly iiin ii2004?
Economists iitry iito iiisolate iithe iieffect iiof iione iivariable iiat iia iitime. iiThey iido iiso iiby ii-
iiAnswers ii-A.
holding iiall iiother iirelevant iifactors iithe iisame.
A iislope iiis iimeasured iias iithe ii- iiAnswers ii-C.
change iiin iithe iivalue iiof iivariable iion iithe iiy-axis iidivided iiby iithe iichange iiin iithe iivalue
iiof iithe iivariable iion iithe iix-axis.
To iihelp iiunscramble iicause iiand iieffect, iieconomists ii- iiAnswers ii-B.
must iiuse iithe iiceteris iiparibus iiassumption.
What iitypically iihappens iito iibenefits iias iithe iiamount iiof iian iiactivity iiis iiincreased? ii-
iiAnswers ii-D.
Marginal iibenefit iidecreases.
Making iichoices iion iithe iimargin iimeans ii- iiAnswers ii-B.
comparing iiall iirelevant iialternatives iisystematically iiand iiincrementally.
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 millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77333 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now