Download The unintended consequences

1
One thing that the public and many economists
overlook when considering the solution to a problem is:
a)The unintended consequences
b)The intended consequences
c)The positive incentives
d)The negative incentives
One thing that the public and many economists
overlook when considering the solution to a problem is:
a)The unintended consequences
b)The intended consequences
c)The positive incentives
d)The negative incentives
2
The invention and use of machinery, such as the cotton
gin, water wheel, and personal computer, allowed
people to make things more easily. These inventions
directly aided societies in improving in which economic
areas?
a) Productivity
b) Competition
c) Scarcity
d) Unemployment
2
The invention and use of machinery, such as the cotton
gin, water wheel, and personal computer, allowed
people to make things more easily. These inventions
directly aided societies in improving in which economic
areas?
a) Productivity
b) Competition
c) Scarcity
d) Unemployment
3
According to the table, over a three month period The Pencil
Company has experienced:
a) An increase in its numbers of employees
b) A decrease in its number of employees
c) An increase in productivity
d) A decrease in productivity
3
According to the table, over a three month period The Pencil
Company has experienced:
a) An increase in its numbers of employees
b) A decrease in its number of employees
c) An increase in productivity
d) A decrease in productivity
4
Productivity may BEST be defined as:
a) The quantity of production
b) The amount of revenue earned
c) The relationship between inputs to outputs
d) The quality of what is produced
4
Productivity may BEST be defined as:
a) The quantity of production
b) The amount of revenue earned
c) The relationship between inputs to outputs
d) The quality of what is produced
5
Use the Possible Combinations
Schedule, what is the marginal
opportunity cost for increasing
boat production from 80 to 105?
a) 50 Cars
b) 50 Boats
c) 25 Cars
d) 25 Boats
5
Use the Possible Combinations
Schedule, what is the marginal
opportunity cost for increasing
boat production from 80 to 105?
a) 50 Cars
b) 50 Boats
c) 25 Cars
d) 25 Boats
6
In the graph, point C represents:
a) Unemployment
b) Inefficiency
c) Unattainability
d) Efficient Production
6
In the graph, point C represents:
a) Unemployment
b) Inefficiency
c) Unattainability
d) Efficient Production
7
In a command economy, resources are allocated to the
production of goods and services based on:
a) The forces of supply and demand
b) Traditional customs passed down through generations
c) Decisions by government planners
d) Comparative advantage over other nations
7
In a command economy, resources are allocated to the
production of goods and services based on:
a) The forces of supply and demand
b) Traditional customs passed down through generations
c) Decisions by government planners
d) Comparative advantage over other nations
8
Susanna loves cheerleading, but she is now facing a tough
decision. She has to make a decision between how much time
she spends as a cheerleader and how much time she needs to
spend studying her economics. Which economic concept
describes the problem she is facing?
a) Fiscal Policy
b) Competition
c) Scarcity
d) Supply and Demand
8
Susanna loves cheerleading, but she is now facing a tough
decision. She has to make a decision between how much time
she spends as a cheerleader and how much time she needs to
spend studying her economics. Which economic concept
describes the problem she is facing?
a) Fiscal Policy
b) Competition
c) Scarcity
d) Supply and Demand
9
Which of the following BEST explains why mechanical engineers
are paid more than janitors?
a) Engineers make more money for a firm and are in shorter
supply
b) Engineers are more educated than janitors
c) Engineers do mental work but janitors do physical work
d) Engineers work longer hours than janitors
9
Which of the following BEST explains why mechanical engineers
are paid more than janitors?
a) Engineers make more money for a firm and are in shorter
supply
b) Engineers are more educated than janitors
c) Engineers do mental work but janitors do physical work
d) Engineers work longer hours than janitors
10
The market uses which allocation strategy?
a) Price
b) Government
c) First come, first serve
d) Contests
10
The market uses which allocation strategy?
a) Price
b) Government
c) First come, first serve
d) Contests