The Macro Economy
ST
Today 15th Edition
UV
TEST BANK
IA
?_
AP
Bradley Schiller
PR
Comprehensive Test Bank for Instructors
OV
and Students
ED
© Bradley Schiller. All rights reserved. Reproduction or distribution without permission is
prohibited.
??
©MEDCONNOISSEUR
, Test Bank for The Macro Economy Today, 15th Edition
Author: Bradley Schiller
ISBN: 9781260105216
ST
Part One: The Economic Challenge
Chapter 1: Economics: The Core Issues
Appendix: Using Graphs
UV
Chapter 2: The U.S. Economy: A Global View
Chapter 3: Supply and Demand
Chapter 4: The Role of Government
Part Two: Measuring Macro Outcomes
IA
Chapter 5: National Income Accounting
Chapter 6: Unemployment
Chapter 7: Inflation
?_
Part Three: Cyclical Instability
Chapter 8: The Business Cycle
Chapter 9: Aggregate Demand
AP
Appendix: The Keynesian Cross
Chapter 10: Self-Adjustment or Instability?
Part Four: Fiscal Policy Tools
Chapter 11: Fiscal Policy
PR
Chapter 12: Deficits and Debt
Part Five: Monetary Policy Options
Chapter 13: Money and Banks
OV
Chapter 14: The Federal Reserve System
Chapter 15: Monetary Policy
Part Six: Supply-Side Options
Chapter 16: Supply-Side Policy: Short-Run Options
ED
Chapter 17: Growth and Productivity: Long-Run Possibilities
Part Seven: Policy Constraints
Chapter 18: Theory Versus Reality
??
Part Eight: International Economics
Chapter 19: International Trade
Chapter 20: International Finance
Chapter 21: Global Poverty
©MEDCONNOISSEUR
, Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
ST
1) Scarcity results when available resources cannot satisfy all desired uses of those
resources.
⊚ true
UV
⊚ false
2) Critics of government regulation argue that government interference in the marketplace
stifles the "animal spirits" of entrepreneurship.
IA
⊚ true
⊚ false
?_
3) Opportunity cost is a theoretical concept with no practical application.
⊚ true
AP
⊚ false
4) Every time we use scarce resources in one way, we give up the opportunity to use them in
other ways.
PR
⊚ true
⊚ false
OV
5) Production possibilities in an economy decrease as more resources and better technology
are utilized.
⊚ true
⊚ false
ED
6) All output combinations that lie outside a production possibilities curve are attainable
with available resources and technology.
??
⊚ true
⊚ false
Version 1 2
, 7) Output combinations that lie inside the production possibilities curve are characterized by
ST
efficient use of resources.
⊚ true
⊚ false
UV
8) If the economy is inside the production possibilities curve, then more output can be
produced using existing resources.
IA
⊚ true
⊚ false
?_
9) All economies must make decisions concerning what to produce, how to produce it, and
for whom to produce.
⊚ true
AP
⊚ false
10) The essential feature of the market mechanism is the price signal.
PR
⊚ true
⊚ false
OV
11) Government failure occurs when government intervention fails to improve economic
outcomes or makes them worse.
⊚ true
⊚ false
ED
12) Microeconomics is concerned with individual performance as well as the economy as a
whole.
⊚ true
??
⊚ false
Version 1 3
ST
Today 15th Edition
UV
TEST BANK
IA
?_
AP
Bradley Schiller
PR
Comprehensive Test Bank for Instructors
OV
and Students
ED
© Bradley Schiller. All rights reserved. Reproduction or distribution without permission is
prohibited.
??
©MEDCONNOISSEUR
, Test Bank for The Macro Economy Today, 15th Edition
Author: Bradley Schiller
ISBN: 9781260105216
ST
Part One: The Economic Challenge
Chapter 1: Economics: The Core Issues
Appendix: Using Graphs
UV
Chapter 2: The U.S. Economy: A Global View
Chapter 3: Supply and Demand
Chapter 4: The Role of Government
Part Two: Measuring Macro Outcomes
IA
Chapter 5: National Income Accounting
Chapter 6: Unemployment
Chapter 7: Inflation
?_
Part Three: Cyclical Instability
Chapter 8: The Business Cycle
Chapter 9: Aggregate Demand
AP
Appendix: The Keynesian Cross
Chapter 10: Self-Adjustment or Instability?
Part Four: Fiscal Policy Tools
Chapter 11: Fiscal Policy
PR
Chapter 12: Deficits and Debt
Part Five: Monetary Policy Options
Chapter 13: Money and Banks
OV
Chapter 14: The Federal Reserve System
Chapter 15: Monetary Policy
Part Six: Supply-Side Options
Chapter 16: Supply-Side Policy: Short-Run Options
ED
Chapter 17: Growth and Productivity: Long-Run Possibilities
Part Seven: Policy Constraints
Chapter 18: Theory Versus Reality
??
Part Eight: International Economics
Chapter 19: International Trade
Chapter 20: International Finance
Chapter 21: Global Poverty
©MEDCONNOISSEUR
, Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
ST
1) Scarcity results when available resources cannot satisfy all desired uses of those
resources.
⊚ true
UV
⊚ false
2) Critics of government regulation argue that government interference in the marketplace
stifles the "animal spirits" of entrepreneurship.
IA
⊚ true
⊚ false
?_
3) Opportunity cost is a theoretical concept with no practical application.
⊚ true
AP
⊚ false
4) Every time we use scarce resources in one way, we give up the opportunity to use them in
other ways.
PR
⊚ true
⊚ false
OV
5) Production possibilities in an economy decrease as more resources and better technology
are utilized.
⊚ true
⊚ false
ED
6) All output combinations that lie outside a production possibilities curve are attainable
with available resources and technology.
??
⊚ true
⊚ false
Version 1 2
, 7) Output combinations that lie inside the production possibilities curve are characterized by
ST
efficient use of resources.
⊚ true
⊚ false
UV
8) If the economy is inside the production possibilities curve, then more output can be
produced using existing resources.
IA
⊚ true
⊚ false
?_
9) All economies must make decisions concerning what to produce, how to produce it, and
for whom to produce.
⊚ true
AP
⊚ false
10) The essential feature of the market mechanism is the price signal.
PR
⊚ true
⊚ false
OV
11) Government failure occurs when government intervention fails to improve economic
outcomes or makes them worse.
⊚ true
⊚ false
ED
12) Microeconomics is concerned with individual performance as well as the economy as a
whole.
⊚ true
??
⊚ false
Version 1 3
