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ECON 200 UOFA Exam 1 Newest 2025/ 2026 Complete
150 Questions And Correct Answers (Verified
Answers) |Already Graded A+||Latest Exam!!!
Alicia and Christine are doctors at a hospital and can each
perform two tasks: open-heart surgery and liver
transplants. Alicia is more efficient than Christine at both of
these two tasks, but Alicia has a lower opportunity cost in
performing liver transplants. Identify the actions that lead
to the hospital seeing more patients.
- Christine and Alicia get equal time doing heart surgery
and equal time doing liver transplants.
- Christine spends most of her time doing heart surgeries.
- Because Alicia is more efficient at both types of surgery,
the hospital has Christine do administrative tasks.
- Christine spends most of her time doing liver transplants.
- Alicia spends most of her time doing liver transplants. -
ANSWER-correct:
- Christine spends most of her time doing heart surgeries.
- Christine spends most of her time doing liver transplants.
incorrect:
- Christine and Alicia get equal time doing heart surgery
and equal time doing liver transplants.
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- Because Alicia is more efficient at both types of surgery,
the hospital has Christine do administrative tasks.
- Alicia spends most of her time doing liver transplants.
Which of the items listed fit the definition of a market?
a swap meet
- a hair salon
- a shopping mall
- a restaurant
- eBay - ANSWER-market:
- a swap meet
- a shopping mall
- eBay
not a market:
- a hair salon
- a restaurant
In a 1953 speech, President Dwight Eisenhower listed
some things that cost about as much as "one modern
heavy-duty bomber": a modern urban school, a couple of
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power plants or hospitals, or 50 miles of highway. What
points was he trying to make?
-Military spending is a poor use of money.
- A bomber is worth more than a power plant or hospital.
- The U.S. government has only so much money.
- Using scarce resources involves trade-offs. - ANSWER-
correct:
- Using scarce resources involves trade-offs.
- The U.S. government has only so much money.
incorrect:
-Military spending is a poor use of money.
- A bomber is worth more than a power plant or hospital.
Place the events in order to describe the unintended
consequences of a government-created incentive.
- Some bred cobras escape.
- The area has more free cobras than before.
- A certain area has a problem with cobras, which are
poisonous.
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- People begin breeding cobras to turn in, which is easier
than hunting them.
- The government announces a reward for every captured
cobra turned in. - ANSWER-1. A certain area has a
problem with cobras, which are poisonous.
2. The government announces a reward for every
captured cobra turned in.
3. People begin breeding cobras to turn in, which is easier
than hunting them.
4. Some bred cobras escape.
5. The area has more free cobras than before
Fill in the blanks to complete the passage about
intellectual property.
The slogan "Information wants to be free" is sometimes
used to justify unrestricted _____ of copyrighted materials,
such as music. The _____ this practice is that depriving
musicians of revenue from the sale of their work _____ an
incentive for them to be creative, which means a _____
supply of music for everyone.
selling
sharing
ECON 200 UOFA Exam 1 Newest 2025/ 2026 Complete
150 Questions And Correct Answers (Verified
Answers) |Already Graded A+||Latest Exam!!!
Alicia and Christine are doctors at a hospital and can each
perform two tasks: open-heart surgery and liver
transplants. Alicia is more efficient than Christine at both of
these two tasks, but Alicia has a lower opportunity cost in
performing liver transplants. Identify the actions that lead
to the hospital seeing more patients.
- Christine and Alicia get equal time doing heart surgery
and equal time doing liver transplants.
- Christine spends most of her time doing heart surgeries.
- Because Alicia is more efficient at both types of surgery,
the hospital has Christine do administrative tasks.
- Christine spends most of her time doing liver transplants.
- Alicia spends most of her time doing liver transplants. -
ANSWER-correct:
- Christine spends most of her time doing heart surgeries.
- Christine spends most of her time doing liver transplants.
incorrect:
- Christine and Alicia get equal time doing heart surgery
and equal time doing liver transplants.
,2|Page
- Because Alicia is more efficient at both types of surgery,
the hospital has Christine do administrative tasks.
- Alicia spends most of her time doing liver transplants.
Which of the items listed fit the definition of a market?
a swap meet
- a hair salon
- a shopping mall
- a restaurant
- eBay - ANSWER-market:
- a swap meet
- a shopping mall
- eBay
not a market:
- a hair salon
- a restaurant
In a 1953 speech, President Dwight Eisenhower listed
some things that cost about as much as "one modern
heavy-duty bomber": a modern urban school, a couple of
,3|Page
power plants or hospitals, or 50 miles of highway. What
points was he trying to make?
-Military spending is a poor use of money.
- A bomber is worth more than a power plant or hospital.
- The U.S. government has only so much money.
- Using scarce resources involves trade-offs. - ANSWER-
correct:
- Using scarce resources involves trade-offs.
- The U.S. government has only so much money.
incorrect:
-Military spending is a poor use of money.
- A bomber is worth more than a power plant or hospital.
Place the events in order to describe the unintended
consequences of a government-created incentive.
- Some bred cobras escape.
- The area has more free cobras than before.
- A certain area has a problem with cobras, which are
poisonous.
, 4|Page
- People begin breeding cobras to turn in, which is easier
than hunting them.
- The government announces a reward for every captured
cobra turned in. - ANSWER-1. A certain area has a
problem with cobras, which are poisonous.
2. The government announces a reward for every
captured cobra turned in.
3. People begin breeding cobras to turn in, which is easier
than hunting them.
4. Some bred cobras escape.
5. The area has more free cobras than before
Fill in the blanks to complete the passage about
intellectual property.
The slogan "Information wants to be free" is sometimes
used to justify unrestricted _____ of copyrighted materials,
such as music. The _____ this practice is that depriving
musicians of revenue from the sale of their work _____ an
incentive for them to be creative, which means a _____
supply of music for everyone.
selling
sharing
