Test Bank for Macroeconomics, 17th Edition, Roger A. Arnold, (Ch1-24) ISBN-,

Fullu fileu atu http://testbankscafe.eu/Test-Bank-for-Macroeconomics-10th-Edition-Slavin

Chapter 02
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uResource Utilizatio
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n

MultipleuChoiceuQuestions



1. Ourueconomyu operatesuonuitsuproductionupossibilityucurve.
A. always
B. sometimes
C. never



2. Whichustatementuisutrue?
A. EntrepreneurialuabilityuisuinushortusupplyuinutheuU.S.
B. Land,ulaboruanducapitalumayubeuconsideredupassiveuresources.
C. Theuconceptuofuopportunityucostuisuirrelevantuwhenuthereuisuscarcity.
D. Noneuofutheseustatementsuareutrue.



3. Whichuoneuofutheufollowinguisutheumostuaccurate?
A. Inurecentuyearsuourueconomyuwasuatufulluemploymentuuntilu2010.
B. Ourueconomyuoperateduoutsideuofuitsuproductionupossibilitiesucurveuinu2009uandu2010.
C. Ourueconomyuisucurrentlyuoperatinguonuitsuproductionupossibilitiesucurve.
D. Ourueconomyuisucurrentlyuoperationuinsideuitsuproductionupossibilitiesucurve.



4. Inuourueconomy
A. thereuisunouneedutoueconomize.
B. weurarelyuhaveutoueconomize.
C. onlyutheurichuhaveuto.
D. nearlyueveryoneuhasutoueconomize.



5. Theutermu"theuaffluentusociety"uwasucoineduby
A. MichaeluHarrington.
B. JohnuKennethuGalbraith.
C. KarluMarx.
D. AdamuSmith.




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6. Eachuofutheufollowinguisuanuexampleuofuanueconomicuresourceuexcept
A. land.
B. money.
C. capital.
D. labor.



7. StatementuI.uEmploymentudiscriminationucausesuunderemployment.
StatementuII.uTheuconceptuofuopportunityucostuhasulittleuvalidityuinutheuglobalueconomy.
A. StatementuIuisutrueuandustatementuIIuisufalse.
B. StatementuIIuisutrueuandustatementuIuisufalse.
C. Bothustatementsuareutrue.
D. Bothustatementsuareufalse.



8. Ourueconomyuwouldubeuoperatinguatufulluemploymentuwithulaboruunemploymenturateuofu
percentuanduaucapacityuutilizationurateuofu percent.
A. 5;u95
B. 5;u85
C. 10;u95
D. 10;u85



9. Whichustatementuisutrue?
A. Onutheuproductionupossibilitiesufrontieruweuhaveuzerouunemployment.
B. Onutheuproductionupossibilitiesufrontieru95upercentuofutheulaboruforceuisuemployed.
C. Tougetuoutuofuaurecession,uweumustuproduceuatusomeupointubeyonduouruproductionup
ossibilitiesufrontier.
D. Touhaveueconomicugrowth,uweumustupushutheuproductionupossibilitiesufrontieruinward.



10. Inuorderutouraiseuoururateuofueconomicugrowthuweuwoulduneeduto
A. increaseutheuleveluofucapital.
B. reduceutheuleveluofulabor.
C. spendumoreuonumilitaryugoods.
D. spendumoreuonuconsumerugoods.




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11. TheumainureasonuourustandarduofulivinguisusoumuchuhigheruthanuthatuofuIndiauanduChinauisut
hatuweuhaveumore
A. land.
B. labor.
C. capital.
D. money.



12. Whichustatementuisutrue?
A. Ituisueasierutouattainufulluemploymentuthanufulluproduction.
B. EmploymentudiscriminationunoulongeruexistsuinutheuU.S.ulaborumarket.
C. Weuareuusuallyuoperatinguonuouruproductionupossibilitiesufrontier.
D. Noneuofutheseustatementsuareutrue.



13. Theumainueffectuofuemploymentudiscriminationuis
A. Unemployment.
B. Underemployment.
C. Greateruefficiency.
D. Greateruproduction.



14. Weutemporarilyuoperateduoutsideuouruproductionupossibilitiesufrontieruin
A. 1933.
B. 1943.
C. 1973.
D. 1982.



15. Whichustatementuisutrue?
A. Theueconomicuproblemuisulimitedutoupoverty.
B. ScarcityuisunoulongeruanueconomicuproblemuinutheuUniteduStates.
C. Ifuweualluhadumoreumoneyuthereuwouldubeulessuscarcity.
D. Noneuofutheseustatementsuareutrue.




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16. StatementuI.uWhenuU.S.uunemploymenturateuisufiveupercent,uituattainsufulluemployment.u
StatementuII.uFulluemploymentuandufulluproductionumeanuvirtuallyutheusameuthing.
A. StatementuIuisutrueuandustatementuIIuisufalse.
B. StatementuIIuisutrueuandustatementuIuisufalse.
C. Bothustatementsuareutrue.
D. Bothustatementsuareufalse.



17. StatementuI.uEntrepreneurialuabilityuisunotuauresource.
StatementuII.uVirtuallyualluofuoururesourcesuareuburieduunderutheuground.
A. StatementuIuisutrueuandustatementuIIuisufalse.
B. StatementuIIuisutrueuandustatementuIuisufalse.
C. Bothustatementsuareutrue.
D. Bothustatementsuareufalse.



18. Whichustatementuisutrue?
A. Weuareuusuallyuinsideuouruproductionupossibilitiesucurve.
B. Weuareuusuallyuoutsideuouruproductionupossibilitiesucurve.
C. Weuareuusuallyuonuouruproductionupossibilitiesucurve.
D. Noneuofutheustatementsuareutrue.




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