Test Bank for Microeconomics, 29th edition by Jeffrey M. Perloff.pdf

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c c c c




FoundationscofcMicroeconomics,c6ec(Bade/Parkin)c
Chapterc2c ThecU.S.candcGlobalcEconomies

2.1c What,cHow,candcForcWhom?

1) Itemscthatcarecpurchasedcbycindividualscforctheircowncenjoymentcareccalled
A) consumptioncgoodscandcservices.
B) capitalcgoods.
C) governmentcgoodscandcservices.
D) exportscofcgoodscandcservices.
E) privatecgoods.
cAnswer:c A

Topic:c Consumptioncgoodscandcservicesc
Skill:c Levelc1:cDefinition
Section:c Checkpointc2.1cS
tatus:c WM
AACSB:c Reflectivecthinking

2) Itemscboughtcbycindividualsctocprovidecpersonalcenjoymentcarectermed
A) consumptioncgoods.
B) personalcgoods.
C) consumptioncorcinvestmentcgoods.
D) standardcgoods.
E) pleasurecgoods.
cAnswer:c A

Topic:c Consumptioncgoodscandcservicesc
Skill:c Levelc1:cDefinition
Section:c Checkpointc2.1cS
tatus:c NAU
AACSB:c Reflectivecthinking

3) Whatcwouldcbecancexamplecofcconsumptioncgood?
A) Antonio,cthecmanagercofctheclocalcTacocHut,cpurchasescacnewcdeepcfryer.
B) Theclocalcdriver'sclicensecofficecpurchasescacnewcdigitalccameracandcprinter.
C) Rhiannacgetscachaircut.
D) JakecbuyscanciPhone.
E) DonaldcTrumpcpurchasescfurniturecforchiscoffice.c
Answer:c D
Topic:c Whatcwecproduce
Skill:c Levelc2:cUsingcdefinitionsc
Section:c Checkpointc2.1
Status:c KG
AACSB:c Reflectivecthinking




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4) Whichcofcthecfollowingciscacconsumptioncgoodcorcservice?
A) acpersonalccomputercpurchasedcincorderctocplaycgamescatchome
B) acUnitedcAirlinecticketccounter
C) thecEndeavorcspacecshuttle
D) acUnitedcParcelcServicectruckcdeliveringcChristmascgifts
E) acsatellitecdishcinstalledcbycCoxcCablectocdownloadcprogramscthatcarecthencdistributedcthroughcit
sccablecsystem
Answer:c A
Topic:c Consumptioncgoodscandcservicesc
Skill:c Levelc2:cUsingcdefinitionscSection
:c Checkpointc2.1
Status:c CT
AACSB:c Reflectivecthinking

5) Whatcwouldcbecancexamplecofcconsumptioncservice?
A) Rhiannacgetscachaircut.
B) JakecbuyscanciPhone.
C) Antonio,cthecmanagercofctheclocalcTacocHut,cpurchasescacnewcdeepcfryer.
D) Theclocalcdriver'sclicensecofficecpurchasescacnewcdigitalccameracandcprinter.
E) DonaldcTrumpcpurchasescfurniturecforchiscoffice.c
Answer:c A
Topic:c Consumptioncgoodscandcservicesc
Skill:c Levelc2:cUsingcdefinitionscSection
:c Checkpointc2.1
Status:c KG
AACSB:c Reflectivecthinking

6) TheclargestcsharecofctotalcproductioncincthecUnitedcStatescis
A) consumptioncgoodscandcservices.
B) capitalcgoods.
C) governmentcgoodscandcservices.
D) exportedcgoodscandcservices.
E) importedcgoodscandcservices.c
Answer:c A
Topic:c Consumptioncgoodscandcservicesc
Skill:c Levelc1:cDefinition
Section:c Checkpointc2.1cS
tatus:c CT
AACSB:c Reflectivecthinking




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7) Itemscboughtcbycbusinessesctochelpcproducecothercgoodscandcservicescareccalled
A) consumptioncgoodscandcservices.
B) capitalcgoods.
C) governmentcgoodscandcservices.
D) exportscofcgoodscandcservices.
E) productivecgoods.
cAnswer:c B

Topic:c CapitalcgoodscSkill
:c Levelc1:cDefinitioncSecti
on:c Checkpointc2.1cStatus
:c WM
AACSB:c Reflectivecthinking

8) Ancitemcthatciscpurchasedctocincreasecbusinesses'cproductivecresourcescis
A) ancexport.
B) acgovernmentcgood.
C) accapitalcgood.
D) acconsumptioncgood.
E) acproductivecgood.
Answer:c C
Topic:c CapitalcgoodscSkill
:c Levelc1:cDefinitioncSecti
on:c Checkpointc2.1cStatus
:c CT
AACSB:c Reflectivecthinking

9) Whatcwouldcbecancexamplecofccapitalcgood?
A) Jeanettecbuyscacnewcdress.
B) Theclocalcdriver'sclicensecofficecpurchasescacnewcdigitalccameracandcprinter.
C) Antonio,cthecmanagercofctheclocalcTacocHut,cpurchasescacnewcdeepcfryer.
D) ApplecsellsccomputersctocJapan.
E) Rhiannacgetscachaircut.c
Answer:c C
Topic:c Capitalcgoods
Skill:c Levelc2:cUsingcdefinitionsc
Section:c Checkpointc2.1
Status:c KG
AACSB:c Reflectivecthinking




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10) Thecdifferencecbetweencconsumptioncandccapitalcgoodsciscthat
A) onlycbigccorporationsccancaffordccapitalcgoods.
B) capitalcgoodscarecusedctocproducecadditionalcgoodscwhilecconsumptioncgoodscarecnot.
C) capitalcgoodscarecprovidedcbycthecgovernment.
D) consumptioncgoodsccancbecenjoyedcbycmanycpeoplecatcthecsamectime.
E) itciscillegalctocexportccapitalcgoods.c
Answer:c B
Topic:c ConsumptioncandccapitalcgoodscS
kill:c Levelc1:cDefinition
Section:c Checkpointc2.1cS
tatus:c DMC
AACSB:c Reflectivecthinking

11) Goodscandcservicescboughtcbycthecgovernmentcaccountcforcaboutc
percentcofctotalcproduction.
A) 2
B) 8
C) 17
D) 35
E) 67
Answer:c C
Topic:c GovernmentcgoodscandcservicescS
kill:c Levelc1:cDefinition
Section:c Checkpointc2.1cS
tatus:c NAU
AACSB:c Reflectivecthinking

12) Whatcwouldcbecancexamplecofcgovernmentcgood?
A) JakecbuyscanciPhone.
B) Theclocalcdriver'sclicensecofficecpurchasescacnewcdigitalccameracandcprinter.
C) Antonio,cthecmanagercofctheclocalcTacocHut,cpurchasescacnewcdeepcfryer.
D) DonaldcTrumpcpurchasescfurniturecforchiscoffice.
E) Rhiannacgetscachaircut.c
Answer:c B
Topic:c GovernmentcgoodscandcservicescS
kill:c Levelc2:cUsingcdefinitionscSection:c
Checkpointc2.1
Status:c KG
AACSB:c Reflectivecthinking




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