Test Bank for Macroeconomics, 23rd Edition by Campbell McConnell|Newest edition 2024/2025 A+

TEST BANK For Macroeconomics 23nd Edition
by McConnell


Version 1
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,ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
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MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
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answers the question. ki ki




1)
Refer to the budget line shown in the diagram. If the consumer's money income is $40, the
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1) ki ki




A) prices of C and D cannot be determined.
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B) price of C is $5 and the price of D is $10.
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C) consumer can obtain a combination of 5 units of both C and D.
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D) price of C is $8 and the price of D is $4.
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Question Details ki




AACSB : Reflective Thinking
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Accessibility : Keyboard
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NavigationTest Bank : I
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Bloom's : Understand
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Difficulty : 02 Medium
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Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs,
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oppTopic : Individuals Economizing Problem
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Accessibility : Screen Reader Compatible ki ki ki ki




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,2)
Suppose you have a money income of $10, all of which you spend on Coke and popcorn. In
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thediagram, the prices of Coke and popcorn, respectively, are
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2) ki ki




A) k i $0.50 and $1.00. ki ki




B) k i $1.00 and $0.50. ki ki




C) k i $1.00 and $2.00. ki ki




D) k i $0.40 and $0.50. ki ki




Question Details ki




AACSB : Reflective Thinking
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Accessibility : Keyboard
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NavigationTest Bank : I
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Bloom's : Understand
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Difficulty : 02 Medium
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Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs,
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oppTopic : Individuals Economizing Problem
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Accessibility : Screen Reader Compatible ki ki ki ki




3) Assume the price of product Y (the quantity of which is on the vertical axis) is $20 andthe
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price of product X (the quantity of which is on the horizontal axis) is $5. Also assume that money
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income is $60. The absolute value of the slope of the resulting budget line is
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3) ki ki




Version 1 ki 3

, A) 4.
B) k i 1/4.
C) 3.
D) k i 12.



Question Details ki




AACSB : Reflective Thinking
ki ki ki




Accessibility : Keyboard
ki ki ki




NavigationTest Bank : I
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Difficulty : 02 Medium ki ki ki




Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs,
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oppTopic : Individuals Economizing Problem
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Accessibility : Screen Reader ki ki ki




CompatibleBloom's : Analyze
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4) Suppose that Julia receives a $30 gift card for the local coffee shop, where she only ki ki ki ki ki ki ki ki ki ki ki ki ki ki ki




buyslattes and muffins. If the price of a latte is $3 and the price of a muffin is $2, then we can
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conclude that Julia
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4) ki ki




A) should only buy muffins. ki ki ki




B) should only buy lattes. ki ki ki




C) can buy 10 lattes or 15 muffins if she chooses to buy only one of the two goods.
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D) can buy 10 lattes and 15 muffins with her $30 gift card.
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Question Details ki




AACSB : Reflective Thinking
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Accessibility : Keyboard
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NavigationTest Bank : I
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Bloom's : Understand
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Difficulty : 02 Medium
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Learning Objective : 01-04 Explain the individuals economizing problem and illustrate trade-offs,
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oppTopic : Individuals Economizing Problem
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Accessibility : Screen Reader Compatible ki ki ki ki




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