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DOWNLOAD THE Test Bank for Principles of Macroeconomics 8th Edition
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1 :xWhilexthexscientificxmethodxisxapplicablextoxstudyingxnaturalxsciences,xitxisxnotxusefulxinxst
udyingxanxeconomicxsystem.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

2 :xSincexnaturalxexperimentsxofferedxbyxhistoryxcannotxbexusedxinxeconomics,xcarefullyxc
onstructedxlaboratoryxexperimentsxmustxbexused.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

3 :xAnxeconomicxmodelxcanxaccuratelyxexplainxhowxthexeconomyxisxorganizedxbecausexitxisxd
esignedxtoxincludexeveryxfeaturexofxthexrealxworld.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

4 :xAllxscientificxmodels,xincludingxeconomicxmodels,xsimplifyxrealityxinxorderxtoximprovexourxu
nderstandingxofxit.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

5 :xAxcircular-
flowxdiagramxisxaxvisualxmodelxofxhowxanxeconomyxisxorganized.a.xTrueb.xFalsexAx:xtrue
Bx:xfalse

CorrectxAnswerx:xA

6 :xInxaxsimplexcircular-
flowxdiagram,xfirmsxownxthexfactorsxofxproductionxandxusexthemxtoxproducexgoodsxandxservi
ces.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

7 :xInxaxsimplexcircular-
flowxdiagram,xthextwoxtypesxofxmarketsxinxwhichxhouseholdsxandxfirmsxinteractxarexthexmarketsxf
orxgoodsxandxservicesxandxthexmarketsxforxfactorsxofxproduction.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

8 :xInxthexmarketsxforxgoodsxandxservices,xasxinxthexmarketsxforxthexfactorsxofxproduction,
mynursytest.store 1x/x55

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Bx:xfalse

CorrectxAnswerx:xB

9 :xInxaxcircular-
flowxdiagram,xonexloopxshowsxthexflowxofxrealxgoods,xservices,xandxfactorsxofxproduction,xandxt
hexotherxloopxshowsxthexcorrespondingxflowxofxdollars.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

10 :xAxproductionxpossibilitiesxfrontierxisxaxgraphxthatxshowsxthexvariousxcombinationsxofxoutputsxth
execonomyxcanxpossiblyxproducexgivenxitsxfactorsxofxproductionxandxtechnology.a.xTrueb.
Falsex
Ax:xtrue
Bx:xfalse

CorrectxAnswerx:xA

11 :xAnxeconomyxcanxproducexatxanyxpointxonxorxinsidexthexproductionxpossibilitiesxfrontier,xbutxitxca
nnotxproducexatxpointsxoutsidexthexfrontier.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

12 :xAnxefficientxoutcomexinxeconomicsxisxonexinxwhichxthexeconomyxisxconservingxthexlargestxp
ossiblexamountxofxresources,xwhilexstillxmeetingxthexneedsxofxsociety.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

13 :xAnxeconomyxisxbeingxefficientxifxitxisximpossiblextoxproducexmorexofxonexgoodxwithoutxpr
oducingxlessxofxanother.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xAx

14x:




mynursytest.store 2x/x55

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x x x x x x x x x x

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Figurex2-11ReferxtoxFigurex2-
11.xPointsxA,xB,xandxDxrepresentxfeasiblexorxattainablexoutcomesxforxsociety.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xAx

15x:




Figurex2-11ReferxtoxFigurex2-
11.xThexopportunityxcostxtoxthexeconomyxofxmovingxfromxpointxBxtoxpointxAxisx10xdishwashers.a.xTr
ueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xBx

16x:




mynursytest.store 3x/x55

, DOWNLOAD THE Test Bank for Principles of Macroeconomics 8th EditionManki
x x x x x x x x x x

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Figurex2-11ReferxtoxFigurex2-
11.xThexopportunityxcostxofxmorexdoghousesxdecreasesxasxmorexdoghousesxarexproduced.a.xTr
ueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

17 :xThextradeoffxbetweenxthexproductionxofxdifferentxgoodsxcanxchangexbecausexofxte
chnologicalximprovementxoverxtime.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

18 :xEconomicxgrowthxcausesxaxproductionxpossibilitiesxfrontierxtoxshiftxoutward.a.xTrueb.xFalsexA
x:xtrue

Bx:xfalse

CorrectxAnswerx:xA

19 :xThexfieldxofxeconomicsxisxdividedxintoxtwoxsubfields:xmicroeconomicsxandx
macroeconomics.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xA

20 :xNormativexstatementsxdescribexhowxthexworldxis,xwhilexpositivexstatementsxprescribexhowxth
exworldxshouldxbe.a.xTrueb.xFalse
Ax:xtruex
Bx:xfalse

CorrectxAnswerx:xB

21 :x“Societyxwouldxbexbetterxifxthexwelfarexsystemxwerexabolished”xisxaxpositivexstatement,xnotxax
normativexstatement.a.xTrueb.xFalse
mynursytest.store 4x/x55