Exam 2: Economics: Eight Powerful Ideas

Which of the following would not be considered "capital" in economics?

Lance's boss offers him twice his usual wage rate to work tonight instead of taking his girlfriend on a romantic date.This offer will likely:

The most meaningful measure of economic growth is

Which of the following generally does not cause increased unemployment?

Small,developing countries must first become self-sufficient before they can benefit from international trade.

Which of the following is an example of a capital resource?

All of the following are tangible goods except:

Human capital is:

Which of the following would most likely be an example of market failure?

If a student enrolls in an additional course at the university,an economist would conclude that:

Everyone faces scarcity.

The market mechanism assures full employment and stable prices

Which of the following will not directly add to improvements in human capital?

Which of the following is not an example of a resource?

Since it is possible to grow coffee in the United States,we should clearly create a U.S.coffee industry and no longer import coffee from Brazil.

If a university begins a policy of permanently expelling any student caught cheating in any way,you would expect that:

The additional benefit received as a result of undertaking an action is:

The marginal (dollar)cost of an additional plate of food to a patron at an "All-You-Can-Eat" restaurant is:

Jared declines to purchase a new bicycle priced at $200.An economist would conclude that:

The opportunity cost of an action is equal to: