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Economics

  • Question 1
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How is scarcity related to competition?

     
       
  • Question 2

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If it is discovered that using drugs enhances a person's chance of contracting a lethal disease, the cost of using drugs

     

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  • Question 3

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A three-word synonym for the term ceteris paribus is

     
       
  • Question 4

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Some years ago, chemists at 3M Corporation were trying to create a super-strong glue. Somehow they got their molecules twisted and came up with one of the weakest glues ever made. But, rather than pouring it down the drain, they tried coating some paper with it, and the "Post-It Note" was born. In this case, 3M was acting as  a(n)

     
       
  • Question 5

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Attempts to determine "what is" are part of __________ economics.

     
       
  • Question 6

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Which of the following is not one of the four broad categories of resources?

     
       
  • Question 7

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Which of the following is not one of the four broad categories of resources?

     
       
  • Question 8

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Efficiency is consistent with

     
       
  • Question 9

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Which of the following is an example of a positive statement?

     
       
  • Question 10

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"If you hadn't gone to dinner with your friends, you would have stayed home and "surfed" the Internet." It follows that

     
 
     
  • Question 11

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Here are three things you could do if you choose not to go to class one day next week: sleep later (you value this at $15), hang out with friends (you value this at $14), or go in to work (you could earn $12 during class). The opportunity cost of going to class is

     
       
  • Question 12

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Choice implies

     
       
  • Question 13

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The headline in the newspaper reads "County Supervisors Debate Building New Schools." The headline relates closest to which economic concept?

     
       
  • Question 14

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Which of the following statements is false?

     
       
  • Question 15

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The latest Lady Gaga album is available to be downloaded for $12.99. Is this price a rationing device?

     
       
  • Question 16

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Economists use the ceteris paribus assumption primarily in order to

     
       
  • Question 17

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Prior to attending college, Darius is offered a lucrative four-year contract as an actor in a daytime soap opera. Assuming that acting and attending college are Darius' preferred alternatives and that he must choose between the two, his cost of attending college after receiving the offer

     

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  • Question 18

0.5 out of 0.5 points

   
 

Which of the following is a positive macroeconomics statement?

     
       
  • Question 19

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In economics, scarcity implies

     
       
  • Question 20

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In most societies, dollar price acts as the main rationing device. If dollar price weren't the main rationing device, would there still be a need for some rationing device to take its place?

     
       

 

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