1)
There was a spike in U.S. legal immigration from 1989 to 1991 due to:
A.An unstable political situation in Mexico
B.Increased international travel
C.Tremendous economic growth in the U.S. economy
D.An amnesty program legalizing formerly illegal immigrants
2) Of the following groups, which had the highest incidence of poverty in 2011?
A.African Americans
B.Hispanics
C.Female householders
D.Persons 65 or older
3)
Assumptions: (1) the labor force is comprised of 9 million men and 9 million women
workers; (2) the economy has 3 occupations, X, Y, and Z, each having identical demand
curves for labor; (3) men and women workers are homogeneous with respect to their
labor-market capabilities; (4) women are discriminated against by being excluded from
occupations X and Y and are confined to Z; and (5) aside from discrimination, the
economy is competitive, and workers seek to maximize their earnings.
Refer to the diagram and list of assumptions. The elimination of gender discrimination:
A.may either increase or reduce real domestic output, depending on what happens to the
level of wages.
B.will increase real domestic output.
C.will have no effect on real domestic output.
D.will reduce real domestic output.
4)
Refer to the table representing Kara’s bank account. Assuming that $2,000 was
deposited into her account at the beginning of year 1, and no further deposits or
withdrawals were made, the value for cell E:
A.cannot be determined.
B.is $2,662.
C.is $2,600.
D.is $2,200.
5) Which of the following countries has the highest percentage of its labor force still in
agriculture?
A.Russia
B.China
C.France
D.Japan
6)
Refer to the data. The Herfindahl index for this industry is:
A.95
B.1,000
C.2,925
D.2,950
7) The economies of North Korea and Cuba are:
A.Similar in that they are both basically command systems
B.Similar in that they are both basically market systems
C.Different in that North Korea has a command system while Cuba has a market system
D.Different in that Cuba has a command system while North Korea has a market
system
8) With non-rivalrous consumption such as in the case of online music and movies, as
more consumers buy the product:
A.The average cost of the output declines because the marginal cost is very small
B.Marginal cost is low, but the average cost of the output will be rising
C.The average cost of the output will be rising because marginal cost is quite high
D.Marginal cost is quite high, but the average cost of the output will be declining
9) The following data show the relationship between total costs and output in the short
run.
The firm’s marginal costs are equal to average total cost somewhere between units:
A.1 and 2
B.2 and 3
C.3 and 4
D.4 and 5
10) How many European nations belong to the European Union (EU)?
A.All of the nations of Europe automatically belong to the EU.
B.17
C.28
D.10
11) Answer the question on the basis of the following data:
The data suggest that:
A.consumption varies inversely with after-tax income.
B.consumption varies directly with after-tax income.
C.consumption and after-tax income are unrelated.
12) The equation for the supply curve in the below diagram is approximately:
A.P = 4 + 1/3Q.
B.P = 4 + 2Q.
C.P = 4 + 3Q.
D.P = 4 – 3Q.
13) If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 200 yen,
then the dollar price of yen is:
A.$.005.
B.$.05.
C.$.50.
D.$5.
14) If a nation exports a product, then the price of that product in the nation:
A.Will rise above the domestic (no-trade) equilibrium price
B.Will fall below the domestic (no-trade) equilibrium price
C.Will remain the same as the domestic (no-trade) equilibrium price
D.May either rise or fall, depending on the product