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Test Item File to Accompany Principles of Macroeconomics - Test Item File 1 Ninth Edition by Case / Fair / Oster Prentice Hall c.2009 10/29/08 Contents Chapter1 TheScopeandMethodofEconomics 1 Chapter2 TheEconomicProblem:ScarcityandChoice 28 Chapter3 Demand,Supply,andMarketEquilibrium 55 Chapter4 DemandandSupplyApplications 95 Chapter5 IntroductiontoMacroeconomics 116 Chapter6 MeasuringNationalOutputandNationalIncome 139 Chapter7 Unemployment,Inflation,andLong‐RunGrowth 169 Chapter 8 AggregateExpenditureandEquilibriumOutput 199 Chapter9 TheGovernmentandFiscalPolicy 239 Chapter10 TheMoneySupplyandtheFederalReserveSystem 278 Chapter11 MoneyDemandandtheEquilibriumInterestRate 307 Chapter12 AggregateDemandintheGoodsandMoneyMarkets 340 Chapter13 AggregateSupplyandtheEquilibriumPrice Level 383 Chapter14 TheLaborMarketintheMacroeconomy 419 Chapter15 PolicyTiming,DeficitTargeting,andStockMarketEffects 455 Chapter16 HouseholdandFirmBehaviorintheMacroeconomy:AFurtherLook 493 Chapter17 Long‐RunGrowth 535 Chapter18 DebatesinMacroeconomics:Monetarism,NewClassicalTheory,  andSupply‐SideEconomics 566 Chapter19 InternationalTrade,ComparativeAdvantage,andProtectionism 598 Chapter20 Open‐EconomyMacroeconomics:TheBalanceofPayments  andExchangeRates 635 Chapter21 EconomicGrowthinDevelopingandTransitionalEconomies 667 Chapter1 TheScopeandMethodofEconomics 1.1 WhyStudyEconomics? 1 MultipleChoice 1) WhichofthefollowingisNOTlistedinthebookasareasontostudyeconomics? A) tolearnawayofthinking B) tounderstandsocietyandglobalaffairs C) tobeaninformedvoter D) tolearnhowtomakelotsofmoney Answer: D Diff:1 Topic: WhyStudyEconomics? Skill: Fact 2) Amongthefundamentalconceptsineconomicsare A) opportunitycost. B) marginalism. C) efficientmarkets. D) alloftheabove Answer: D Diff:1 Topic: WhyStudyEconomics? Skill: Fact 3) Whichofthefollowingisthebestdefinitionofeconomics? A) thestudyofhowindividualsandsocietieschoosetousethescarceresourcesthatnature andpreviousgenerationshaveprovided B) thestudyofhowconsumersspendtheirincome C) thestudyofhowbusinessfirmsdecidewhatinputstohireandwhatoutputsto produce D) thestudyofhowthefederalgovernmentallocatestaxdollars Answer: A Diff:2 Topic: WhyStudyEconomics? Skill: Definition 4) TheriseofthemodernfactorysysteminEnglandduringthelateeighteenthandearly nineteenthcenturiesisknownasthe A) GreatMigration. B) IndustrialRevolution. C) WealthofNations. D) DarkAges. Answer: B Diff:1 Topic: WhyStudyEconomics? Skill: Fact 1 5) WhichofthefollowingstatementsisNOTcorrect? A) Economicsisabehavioralscience. B) Inlargemeasure,economicsisthestudyofhowpeoplemakechoices. C) Ifpovertywaseliminatedtherewouldbenoreasontostudyeconomics. D) Economicanalysiscanbeusedtoexplainhowbothindividualsandsocietiesmake decisions. Answer: C Diff:1 Topic: WhyStudyEconomics? Skill: Fact 6) Thestudyofeconomics A) isaverynarrowendeavor. B) isawayofanalyzingdecision - makingprocessescausedbyscarcity. C) isconcernedwithprovingthatcapitalismisbetterthansocialism. D) focusesonhowabusinessshouldfunction. Answer: B Diff:2 Topic: WhyStudyEconomics? Skill: Definition 7) Sunkcostsare A) coststhatcannotbeavoided,becausetheyhavealreadybeenincurred. B) thecostsofwhatwegiveupwhenwemakeachoiceoradecision. C) theadditionalcostsofproducinganadditionalunitofaproduct. D) theadditionalcostsofconsuminganadditionalunitofaproduct. Answer: A Diff:2 Topic: WhyStudyEconomics? Skill: Definition 8) Supposethatyoupurchasedatickettoajazzfestivalfor$100amonthago.Lastweek someoneinvitedyoutoahockeygameonthesamenightasthejazzfestival.Youwouldmuch rathergotothehockeygamethanthejazzfestival.Youhavetriedunsuccessfullytosellthe jazzfestivalticket.Whichofthefollowingstatementsregardingthissituationiscorrect? A) The$100youpaidforthejazzfestivalticketisrelevanttothedecision,asthisrepresents theopportunitycostofattendingthehockeygame. B) Youshouldbaseyourdecisiononwhetherornotthehockeygamewillprovide youwith morethan$100insatisfaction. C) The$100youpaidforthejazzfestivalticketshouldbeirrelevantinyourdecision making,becauseitisasunkcost. D) The$100jazzfestivalticketshouldbeirrelevantinyourdecisionmaking,becauseit representsthemarginalcostofattendingthehockeygame. Answer: C Diff:2 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 2 9) YouhavedecidedthatyouwanttoattendacostumepartyasIronman.Youestimatethatit willcost$40toassembleyourcostume.Afterspending$40onthecostume,yourealizethat theadditionalpiecesyouneedwillcostyou$25more.Themarginalcostofcompletingthe costumeis A) $15. B) $25. C) $40. D) $65. Answer: B Diff:2 Topic: WhyStudyEconomics? Skill: A nalytic A ACSB: A nalyticSkills 10) Theconceptofopportunitycost A) isrelevantonlytoeconomics. B) canbeappliedtotheanalysisofanydecision - makingprocess. C) appliestoconsumersbutnottofirms. D) refersonlytoactualpaymentsandincomes. Answer: B Diff:2 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 11) Opportunitycostis A) thatwhichweforgo,orgiveup,whenwemakeachoiceoradecision. B) acostthatcannotbeavoided,regardlessofwhatisdoneinthefuture. C) theadditionalcostofproducinganadditionalunitofoutput. D) theadditionalcostofbuyinganadditionalunitofaproduct. Answer: A Diff:2 Topic: WhyStudyEconomics? Skill: Definition 12) Thereasonthatopportunitycostsariseisthat A) aneconomyreliesonmoneytofacilitateexchangeofgoodsandservices. B) resourcesarescarce. C) therearenoalternativedecisionsthatcouldbemade. D) peoplehavelimitedwants. Answer: B Diff:1 Topic: WhyStudyEconomics? Skill: Fact 13) WhichofthefollowingisNOTanopportunitycostofattendingcollege? A) thetuitionyoupay B) theincomeyoucouldhaveearnedifyoudidnʹtattendcollege C) thealternativeusesofthetimeyouspendstudying D) thecostofthefoodthatyouconsumewhileyouareattendingcollege Answer: D Diff:3 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 3 14) Ifyourtuitionis$5,000thissemester,yourbookscost$600,youcanonlywork20ratherthan 40hoursperweekduringthe15weeksyouaretakingclassesandyoumake$15perhour,and yourroomandboardis$3000thissemester,thenyouropportunitycostofattendingcollege thissemesteris A) $5,600. B) $5,900. C) $10,100. D) $11,600. Answer: C Diff:3 Topic: WhyStudyEconomics? Skill: A nalytic A ACSB: A nalyticSkills 15) Ifyourtuitionis$25,000thissemester,yourbookscost$1,500,youcanonlywork20rather than40hoursperweekduringthe15weeksyouaretakingclassesandyoumake$15per hour,andyourroomandboardis$7,500thissemester,thenyouropportunitycostof attendingcollege thissemesteris A) $26,500. B) $26,800. C) $31,000. D) $38,500. Answer: C Diff:3 Topic: WhyStudyEconomics? Skill: A nalytic A ACSB: A nalyticSkills 16) Ifyouownabuildingandyoudecidetousethatbuildingtoopenabookstore, A) thereisnoopportunitycostofusingthisbuildingforabookstorebecauseyouownit. B) thereisanopportunitycostofusingthisbuildingforabookstorebecauseitcouldhave beenusedinotherways. C) therearenosunkcostsinvolvedinthisdecision. D) theonlycostrelevanttothisdecisionisthepriceyoupaidforthebuilding. Answer: B Diff:2 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 17) YouowntheStarWarssixDVDset.TheopportunitycostofwatchingtheseDVDsforthe secondtime A) iszero. B) isone - halfthecostoftheDVDs,asthisisthesecondtimeyouhavewatchedit. C) isthevalueofthealternativeuseofthetimeyouspendwatchingthe DVDs. D) cannotbecalculated. Answer: C Diff:2 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 4 18) Thatwhichweforgo,orgiveup,whenwemakeachoiceordecisioniscalled A) sunkcost. B) marginalcost. C) realcost. D) opportunitycost. Answer: D Diff:1 Topic: WhyStudyEconomics? Skill: Definition 19) Coststhatcannotbeavoided,regardlessofwhatisdoneinthefuture,becausetheyhave alreadybeenincurredare A) totalcosts. B) sunkcosts. C) marginalcosts. D) allocativecosts. Answer: B Diff:1 Topic: WhyStudyEconomics? Skill: Definition 20) Ifyoucanbuy9DVDsfor$126oryoucouldbuy10DVDsfor$130,thenthemarginalcostof thetenthDVDis: A) $4. B) $13. C) $14. D) $130. Answer: A Diff:2 Topic: WhyStudyEconomics? Skill: A nalytic 21) Ifyoueatatasushirestaurantthatcharges$20foritsallyoucaneatsushispecial,thenthe marginalcostofyour10thpieceofsushiis A) zero. B) $2. C) $200. D) $2,000. Answer: A Diff:2 Topic: WhyStudyEconomics? Skill: A nalytic A ACSB: A nalyticSkills 22) Amarketinwhichprofitopportunitiesareeliminatedalmostinstantaneouslyis A) alaissez - fairemarket. B) acapitalistmarket. C) asocialistmarket. D) anefficientmarket. Answer: D Diff:2 Topic: WhyStudyEconomics? Skill: Definition 23) Ifinformationislesscostlyandmoreeasilyavailable,thenusuallythis A) makesmarketsmoreefficient. B) makesmarketslessefficient. C) increasesprofitopportunities. D) increasestheopportunitycostofacquiringmoreinformation. Answer: A Diff:3 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 5 24) Anefficientmarketisamarket A) inwhicheveryonealwaysgetswhattheywant. B) inwhichprofitopportunitiesareeliminatedalmostinstantaneously. C) inwhichprofitsarealwaysveryhighandpersistent. D) inwhichopportunitycostsarezero. Answer: B Diff:2 Topic: WhyStudyEconomics? Skill: Definition 25) RelatedtotheEconomicsinPractice onp.6:Whichoneofthefollowingbestsupportsthe argumentthatmostofthevalueofAppleʹsiPodisinitsconceptionanddesign? A) AppleʹshistoryofinnovativeproductdesignincludestheearliestuseofaGraphicUser Interface(GUI)inthehome computermarket. B) TheiPodwouldnothavebeenassuccessfulwithoutthedevelopmentofWebsitesthat allowuserstopurchaseanddownloadmusic. C) CompaniesthatassembletheiPodandthosethatmanufactureiPodcomponents togethercaptureonlyasmallfractionoftheiPodʹsretailvalue. D) Increasesinthecostsofcomponents willreducetheprofitabilityoftheiPod,although priceincreasescanbepassedontoconsumers. Answer: C Diff:3 Topic: WhyStudyEconomics?:EconomicsinPractice Skill: A nalytic A ACSB: A nalyticSkills 26) RelatedtotheEconomicsinPractice onp.6:Whichoneofthefollowingbestexplainswhy AppleʹsiPodisneitherapureimportnorapureexport? A) TheiPodhasearnedalargeshareofthemarketforportablemusicplayersinboththe UnitedStatesandotherindustrializednations. B) Intellectual propertylawsprotecttheiPodinbothdomesticandinternationalmarkets, althoughenforcementofthoselawsvarieswidelybetweencountries. C) Applestockispubliclytraded,andsocitizensofanycountrycanownApplestock. D) TheiPodwasdesignedandissoldbyaU.S.company,butitisassembledinChina from partsmadeintheUnitedStatesandothercountries. Answer: D Diff:3 Topic: WhyStudyEconomics?:EconomicsinPractice Skill: A nalytic A ACSB: A nalyticSkills 2 True/False 1) Resourcesareunlimitedinawealthysociety. Answer: FALSE Diff:1 Topic: WhyStudyEconomics? Skill: Fact 6 2) Thevalueofthebestalternativeforegoneistheopportunitycostofmakingadecision. Answer: TRUE Diff:1 Topic: WhyStudyEconomics? Skill: Definition 3) Opportunitycostsariseduetoscarceresources. Answer: TRUE Diff:1 Topic: WhyStudyEconomics? Skill: Fact 4) Sunkcostsdonotaffectmarginaldecisionmaking. Answer: TRUE Diff:2 Topic: WhyStudyEconomics? Skill: Conceptual A ACSB: ReflectiveThinking 5) Marginalcostsarethosethatcannotberecaptured. Answer: FALSE Diff:1 Topic: WhyStudyEconomics? Skill: Fact 1.2 TheScopeofEconomics 1 MultipleChoice 1) Thebranchofeconomicsthatexaminesthefunctioningofindividualindustriesandthe behaviorofindividualdecision - makingunitsis A) positiveeconomics. B) normativeeconomics. C) macroeconomics. D) microeconomics. Answer: D Diff:2 Topic: TheScopeofEconomics Skill: Definition 2) StudyinghowthemanagementofHewlettPackarddecideshowmanycomputerstoproduce andthepricetochargeforitscomputerswouldbeconsidered A) descriptiveeconomics. B) empiricaleconomics. C) microeconomics. D) macroeconomics. Answer: C Diff:2 Topic: TheScopeofEconomics Skill: Conceptual A ACSB: ReflectiveThinking 7 3) StudyinghowJoshuaallocateshistimebetweenschoolandvideogamesisanexampleof A) macroeconomics. B) microeconomics. C) industrialorganization. D) descriptiveeconomics. Answer: B Diff:1 Topic: TheScopeofEconomics Skill: Conceptual A ACSB: ReflectiveThinking 4) Thestudyofhowbenefitsaredeterminedforcityemployeeswouldbeconsidered A) microeconomics. B) macroeconomics. C) descriptiveeconomics. D) institutionaleconomics. Answer: A Diff:1 Topic: TheScopeofEconomics Skill: Conceptual A ACSB: ReflectiveThinking 5) Inflationandunemployment A) arethefocusofnormativeeconomics. B) areafocusofmicroeconomics. C) areafocusofpositiveeconomics. D) areafocusofmacroeconomics. Answer: D Diff:1 Topic: TheScopeofEconomics Skill: Fact 2 True/False 1) Therateofeconomicgrowthisatopicofmicroeconomics. Answer: FALSE Diff:1 Topic: TheScopeofEconomics Skill: Conceptual A ACSB: ReflectiveThinking 2) Theaggregatepricelevelisatopicofmacroeconomics. Answer: TRUE Diff:2 Topic: TheScopeofEconomics Skill: Conceptual A ACSB: ReflectiveThinking 8

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Mục lục

  • Title

  • Contents

  • Chapter 1

  • Chapter 2

  • Chapter 3

  • Chapter 4

  • Chapter 5

  • Chapter 6

  • Chapter 7

  • Chapter 8

  • Chapter 9

  • Chapter 10

  • Chapter 11

  • Chapter 12

  • Chapter 13

  • Chapter 14

  • Chapter 15

  • Chapter 16

  • Chapter 17

  • Chapter 18

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