Question 1

The influence of agricultural technologies on farm land in the United States has been

Accepted Answer

A)  very little up until now. 
B)  substantial, as greater productivity per acre reduced the need for farmland. 
C)  substantial; the productivity of much farm land has been destroyed by new technologies and may never be useful again. 
D)  to make farmland less productive over time as the minerals In the soil are used up. 
A)  very little up until now. 
B)  substantial, as greater productivity per acre reduced the need for farmland. 
C)  substantial; the productivity of much farm land has been destroyed by new technologies and may never be useful again. 
D)  to make farmland less productive over time as the minerals In the soil are used up.

Question 2

The Agriculture Adjustment Act of the Roosevelt Administration attempted to boost prices of agriculture products by

Accepted Answer

A)  increasing the money supply from year to year at a constant rate. 
B)  decreasing the money supply through a policy of monetary contraction. 
C)  increasing demand through lower taxes and budget deficits. 
D)  reducing supply through the planned destruction of agricultural crops and livestock. 
A)  increasing the money supply from year to year at a constant rate. 
B)  decreasing the money supply through a policy of monetary contraction. 
C)  increasing demand through lower taxes and budget deficits. 
D)  reducing supply through the planned destruction of agricultural crops and livestock.

Question 3

What percentage of the non-farm labor force in the United States belonged to a labor union in 2010?

Accepted Answer

A)  less than 10 percent 
B)  approximately 12 percent 
C)  approximately 28 percent 
D)  more than 40 percent 
A)  less than 10 percent 
B)  approximately 12 percent 
C)  approximately 28 percent 
D)  more than 40 percent

Question 4

During the last 15 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?

Accepted Answer

A)  Both the rates imposed and the revenues collected from the rich have increased. 
B)  Both the rates imposed and the revenues collected from the rich have declined. 
C)  The tax rates imposed on the rich have declined, but the revenues collected from them have increased. 
D)  The tax rates imposed on the rich have increased, but the revenues collected from them have declined. 
A)  Both the rates imposed and the revenues collected from the rich have increased. 
B)  Both the rates imposed and the revenues collected from the rich have declined. 
C)  The tax rates imposed on the rich have declined, but the revenues collected from them have increased. 
D)  The tax rates imposed on the rich have increased, but the revenues collected from them have declined.

Question 5

One dollar of tax revenue ends up costing citizens in the economy

Accepted Answer

A)  less than one dollar. 
B)  exactly one dollar. 
C)  more than one dollar. 
D)  nothing. 
A)  less than one dollar. 
B)  exactly one dollar. 
C)  more than one dollar. 
D)  nothing.

Question 6

When the government borrows funds in order to pay for its current expenditures,

Accepted Answer

A)  the government will have to repay the borrowed funds within five years. 
B)  the government can spend without having to increase taxes, either now or in the future. 
C)  future taxes will have to be higher in order to pay the interest on the borrowed funds. 
D)  the cost imposed on the private sector is virtually eliminated because taxes can remain constant. 
A)  the government will have to repay the borrowed funds within five years. 
B)  the government can spend without having to increase taxes, either now or in the future. 
C)  future taxes will have to be higher in order to pay the interest on the borrowed funds. 
D)  the cost imposed on the private sector is virtually eliminated because taxes can remain constant.

Question 7

Most scientists agree that

Accepted Answer

A)  if global warming continues for another century, the sea levels will rise substantially, imposing costs much larger than the cost of preventing the warming. 
B)  the earth has warmed about one degree Fahrenheit in the past century. 
C)  global warming will substantially reduce future rates of economic growth and lead to sharp reductions in living standards. 
D)  regulations like those outlined in the Kyoto Protocol will substantially reduce global warming. 
A)  if global warming continues for another century, the sea levels will rise substantially, imposing costs much larger than the cost of preventing the warming. 
B)  the earth has warmed about one degree Fahrenheit in the past century. 
C)  global warming will substantially reduce future rates of economic growth and lead to sharp reductions in living standards. 
D)  regulations like those outlined in the Kyoto Protocol will substantially reduce global warming.

Question 8

Empirical evidence suggests that the relative scarcity of most resources is

Accepted Answer

A)  declining. 
B)  increasing slowly. 
C)  increasing rapidly. 
D)  largely unchanged over the past four decades. 
A)  declining. 
B)  increasing slowly. 
C)  increasing rapidly. 
D)  largely unchanged over the past four decades.

Question 9

Environmental regulation by the government

Accepted Answer

A)  leads to ideal outcomes in most cases. 
B)  is often based on goals for pollution levels that were determined by market signals. 
C)  is most appropriate when the pollution of concern comes from many sources. 
D)  is most likely to be economically efficient when the regulation provides substantial benefits for special-interest groups. 
A)  leads to ideal outcomes in most cases. 
B)  is often based on goals for pollution levels that were determined by market signals. 
C)  is most appropriate when the pollution of concern comes from many sources. 
D)  is most likely to be economically efficient when the regulation provides substantial benefits for special-interest groups.

The influence of agricultural technologies on farm land in the United States has been

The Agriculture Adjustment Act of the Roosevelt Administration attempted to boost prices of agriculture products by

What percentage of the non-farm labor force in the United States belonged to a labor union in 2010?

During the last 15 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?

One dollar of tax revenue ends up costing citizens in the economy

When the government borrows funds in order to pay for its current expenditures,

Most scientists agree that

Empirical evidence suggests that the relative scarcity of most resources is

Environmental regulation by the government

The Economic Approach

Some Tools of the Economist

Demand, Supply, and the Market Process

Supply and Demand: Applications and Extensions

Difficult Cases for the Market, and the Role of Government

The Economics of Political Action

Consumer Choice and Elasticity

Costs and the Supply of Goods

Price Takers and the Competitive Process

Price-Searcher Markets With Low Entry Barriers

Price-Searcher Markets With High Entry Barriers

The Supply of and Demand for Productive Resources

Earnings, Productivity, and the Job Market

Investment, the Capital Market, and the Wealth of Nations

Income Inequality and Poverty

Filters

Exam 16: Applying the Basics: Special Topics in Economics

The influence of agricultural technologies on farm land in the United States has been

The Agriculture Adjustment Act of the Roosevelt Administration attempted to boost prices of agriculture products by

What percentage of the non-farm labor force in the United States belonged to a labor union in 2010?

During the last 15 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?

One dollar of tax revenue ends up costing citizens in the economy

When the government borrows funds in order to pay for its current expenditures,

Most scientists agree that

Empirical evidence suggests that the relative scarcity of most resources is

Environmental regulation by the government

The Economic Approach

Some Tools of the Economist

Demand, Supply, and the Market Process

Supply and Demand: Applications and Extensions

Difficult Cases for the Market, and the Role of Government

The Economics of Political Action

Consumer Choice and Elasticity

Costs and the Supply of Goods

Price Takers and the Competitive Process

Price-Searcher Markets With Low Entry Barriers

Price-Searcher Markets With High Entry Barriers

The Supply of and Demand for Productive Resources

Earnings, Productivity, and the Job Market

Investment, the Capital Market, and the Wealth of Nations

Income Inequality and Poverty

Filters