Mircoeconomics 2302 – assessment: lesson 2 quiz

Assessment: Lesson 2 Quiz  Question 1 (6063065): _________ production involves the human resource called Labor. Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  MostSomeAllNone of the above________________________________________Question 2…

Assessment: Lesson 2 Quiz  Question 1 (6063065): _________ production involves the human resource called Labor. Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  MostSomeAllNone of the above________________________________________Question 2 (6063082): Thomas Malthus predicted that economic activity would evolve in cycles of ___________________ . Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  inflation and deflationmisery and catastropheglobal warming and ice agesnatural sunspots ________________________________________Question 3 (6063109):  What is the opportunity cost of moving from B back to A ?Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  2 units of clothing4 units of clothing9 computers6 computers________________________________________Question 4 (6063107):  What is the benefit of moving from B to C ? Type: Multiple Choice  Correct answer(s):  3 units of clothing9 units of clothing2 computers4 computers________________________________________Question 5 (6063070): The ability of people to conceive an idea (innovate), bring together resources, and take the risk when starting a business are all part of ________________ .    Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  ConsumptionInvestmentEntrepreneurshipNone of the above ________________________________________Question 6 (6063077): In the Wealth of Nations, the distribution of income and wealth was explained by the concept of ______________________.    Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  war and imperialismaccumulating gold and silverproductivity (output per worker)the money multiplier ________________________________________Question 7 (6063106):  In the graph above, the point  D  represents values resulting in ____________.Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  inflation efficiencyunemploymentgrowth________________________________________Question 8 (6063103): A shift in a PPC/PPF to the right (or outward) illustrates Growth which may be generated by __________________ (better utilizing existing resources) or by acquiring more resources over time.  Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  working overtimeincreasing importsimproved Technologyusing first (or low) gear ________________________________________Question 9 (6063085): ____________ argued that capitalism would lead to socialism and then to communism as armies of unemployed workers would force economic change.
e: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  Thomas MalthusRobert OwenKarl MarxDavid Ricardo________________________________________Question 10 (6063099): ______________ is when a resource is not fully utilized, such as your when your Economics professor has to sweep the streets as a primary job. Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  Under-employmentUnemploymentInflationEconomic Efficiency ________________________________________Question 11 (6063090): In America during the early 1900’s Labor Unoins became an economic force as the role of workers became fundamental for economic ___________.   Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  growthinflationrecessiondeflation ________________________________________Question 12 (6063057): __________ efficiency is gaining the most output to maximize consumer utility with a given amount of input.   Type: Multiple ChoicePoints awarded: 0.00 / 1.00  Correct answer(s):  ProductiveIndustrialEconomicHuman________________________________________Question 13 (6063062): The Standard of Living of a nation is determined by the __________ available and how they are used.   Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  quarks or quirksonly quirks, not quarksresources or factorsonly quarks, not quirks ________________________________________Question 14 (6063093): _____________ of concepts is one important means of understanding Economics.  
Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  DigitizingNono-engineeringVisualizationMastication ________________________________________Question 15 (6063075): The evolution toward the ________________ system occurred in a gradual process as societies adapted to new technologies and the need for skilled labor. ype: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  MarketUtopianFantasyEuro-centric
SET-IIQuestion 1 (6063067): The ability of people to produce is determined by their ____________________ .   Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  skillknowledge trainingAll the above ________________________________________Question 2 (6063059): ___________  efficiency is gaining the most output with a given amount of input, but not relating output to consumer utility. Type: Multiple ChoicePoints awarded: 0.00 / 1.00  Correct answer(s):  EconomicProductiveIndustrialHuman ________________________________________Question 3 (6063092): Workers formed unions and eventually these were recognized as a legal entity having the right of _________________ . Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  habeus corpuscollective bargaininga fair trialmultiple votes ________________________________________Question 4 (6063087): ___________ economics led to the creation of the communist state in Russia. Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  SmithianOwenianOprahMarxist________________________________________Question 5 (6063077): In the Wealth of Nations, the distribution of income and wealth was explained by the concept of ______________________.   Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  war and imperialismaccumulating gold and silverproductivity (output per worker)the money multiplier ________________________________________Question 6 (6063101): A shift in a PPC/PPF to the______________ illustrates Growth which may be generated by better utilizing existing resources (improved Technology) or by acquiring more resources over time. Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  left (or inward)right( or outward)first (or low) gearnone of the above ________________________________________Question 7 (6063110):  What is the benefit of moving from B back to A ?Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  2 units of clothing4 units of clothing9 computers3 computers________________________________________Question 8 (6063106):  In the graph above, the point  D  represents values resulting in ____________.Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  inflation efficiencyunemploymentgrowth________________________________________Question 9 (6063083): __________________ theory did not take into account the advancement of technology and systems changes.
Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  Thomas Malthus’Robert Owen’sKarl Marx’sDavid Ricardo’s ________________________________________Question 10 (6063069): The ability of people to conceive an idea (innovate), bring together resources, and take _________ when starting a business are all part of Entrepreneurship. 
Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  obscene profitbig lossesthe risknone of the above ________________________________________Question 11 (6063107):  What is the benefit of moving from B to C ? Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  3 units of clothing9 units of clothing2 computers4 computers________________________________________Question 12 (6063093): _____________ of concepts is one important means of understanding Economics.  Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  DigitizingNono-engineeringVisualizationMastication ________________________________________Question 13 (6063100): Under-employment is when a resource is not fully utilized, such as when _____________________________________________. Type: Multiple ChoicePoints awarded: 0.00 / 1.00  Correct answer(s):  your Economics professor cannot find even a street sweeping jobc. or d. belowan office building stands 80% emptya computer network runs at only 50% of capacity ________________________________________Question 14 (6063073): The transition away from ___________________ systems began as the manor life yielded to the city life in the 17th and 18th centuries in Europe.
Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  Fantasy and UtopianMarket and AutocraticCommand and MarketTraditional and Autocratic ________________________________________Question 15 (6063061): The _____________ of a nation is determined by the resources available and how they are used.    Type: Multiple ChoicePoints awarded: 1.00 / 1.00  Correct answer(s):  SovereigntiesStandard of LivingQuarksQuirks

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