Question 1

Attempts by the government to reduce the rate of inflation often result in higher unemployment in the short run.

Accepted Answer

A) True 
 B)False

Question 2

In the United States,the fact that the gap between the rich and the poor has been increasing is often justified by economists on the grounds that greater

Accepted Answer

A)  efficiency can never be achieved without greater inequality. 
B)  inequality does not create any problems. 
C)  inequality is a desirable end in itself. 
D)  inequality is an undesirable consequence of greater efficiency. 
E)  efficiency should be achieved at any cost. 
A)  efficiency can never be achieved without greater inequality. 
B)  inequality does not create any problems. 
C)  inequality is a desirable end in itself. 
D)  inequality is an undesirable consequence of greater efficiency. 
E)  efficiency should be achieved at any cost.

Question 3

Economists may disagree about how to solve an economic problem because they

Accepted Answer

A)  use different models to analyze the problem and its solutions. 
B)  have different political and moral beliefs. 
C)  disagree about the facts of the situation. 
D)  All of the above are correct. 
A)  use different models to analyze the problem and its solutions. 
B)  have different political and moral beliefs. 
C)  disagree about the facts of the situation. 
D)  All of the above are correct.

Question 4

Models are simplifications that are used to observe the workings of a system.

Accepted Answer

A) True 
 B)False

Question 5

Even though international trade in undertaken voluntarily,a country that engages in trade may not benefit from it.

Accepted Answer

A) True 
 B)False

Question 6

There are frequently market solutions that the government can use to deal with externalities.

Accepted Answer

A) True 
 B)False

Attempts by the government to reduce the rate of inflation often result in higher unemployment in the short run.

In the United States,the fact that the gap between the rich and the poor has been increasing is often justified by economists on the grounds that greater

Economists may disagree about how to solve an economic problem because they

Models are simplifications that are used to observe the workings of a system.

Even though international trade in undertaken voluntarily,a country that engages in trade may not benefit from it.

There are frequently market solutions that the government can use to deal with externalities.

The Economy Myth and Reality

The Fundamental Economic Problem Scarcity and Choice

Supply and Demand An Initial Look

An Introduction To Macroeconomics

The Goals Of Macroeconomic Policy

Economic Growth Theory And Policy

Aggregate Demand and The Powerful Consumer

Demand Side Equilibrium Unemployment Or Inflation

Bringing In The Supply Side Unemployment and Inflation

Managing Aggregate Demand Fiscal Policy

Money and The Banking System

Monetary Policy Conventional and Unconventional

The Financial Crisis and The Great Recession

The Debate Over Monetary and Fiscal Policy

Budget Deficits In The Short and Long Run

The Trade Off Between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System Order Or Disorder

Exchange Rates and The Macroeconomy

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Exam 1: What Is Economics

Attempts by the government to reduce the rate of inflation often result in higher unemployment in the short run.

In the United States,the fact that the gap between the rich and the poor has been increasing is often justified by economists on the grounds that greater

Economists may disagree about how to solve an economic problem because they

Models are simplifications that are used to observe the workings of a system.

Even though international trade in undertaken voluntarily,a country that engages in trade may not benefit from it.

There are frequently market solutions that the government can use to deal with externalities.

The Economy Myth and Reality

The Fundamental Economic Problem Scarcity and Choice

Supply and Demand An Initial Look

An Introduction To Macroeconomics

The Goals Of Macroeconomic Policy

Economic Growth Theory And Policy

Aggregate Demand and The Powerful Consumer

Demand Side Equilibrium Unemployment Or Inflation

Bringing In The Supply Side Unemployment and Inflation

Managing Aggregate Demand Fiscal Policy

Money and The Banking System

Monetary Policy Conventional and Unconventional

The Financial Crisis and The Great Recession

The Debate Over Monetary and Fiscal Policy

Budget Deficits In The Short and Long Run

The Trade Off Between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System Order Or Disorder

Exchange Rates and The Macroeconomy

Filters