1) In recent years the United States has:
A.exported more services abroad than it has imported.
B.had a small goods trade surplus with Japan.
C.had a large goods trade surplus with the rest of the world.
Dfallen to third behind Japan and Germany in the list of leading export nations
(absolute volume basis).
2) which of the following is correct?
a.the unemployment rates of men and women workers are roughly the same.
b.unemployment rates for african-american and white workers are approximately the
same.
c.teenagers experience approximately the same unemployment rates as do adults.
d.laborers are less vulnerable to unemployment than are professional workers.
3) Suppose population A, consisting of Al, Bob, Curt, Doris, and Ellie, receive annual
incomes of $5,000, $2,500, $1,250, $750, and $500, respectively.
Refer to the above information. Population B, consisting of Fred, George, Holly, Irma,
and Joan, receive incomes of $4,000, $3,000, $1,250, $950, and $800, respectively. We:
A.can say that the income of population B is less equally distributed than that of
population A.
B.can say that the income of population B is more equally distributed than that of
population A.
C.cannot make a meaningful comparison of the income distributions of populations A
and B.
D.can say that the poorest quintile of population B receives 12 percent of total income.
4)
Answer this question on the basis of the above diagram and the equation of exchange.
Assume that the velocity of money is constant at 4. Suppose that the increase of
aggregate supply from AS1 to AS2 indicates the economy’s average increase in real
output per year. According to monetarists, the proper monetary rule for price stability
would be to increase the money supply by:
A.zero percent per year.
B.4 percent per year.
C.10 percent per year.
D.30 percent per year.
5) The following information: The Fed is going to auction $30 billion in reserves using
the term auction facility. It receives the following bids:
Refer to the above information. As a result of the auction, how much and at what
interest rate will Beta bank borrow?
A.$0; 3.5 percent (rate charged winning bidders)
B.$0; 4.5 percent (rate charged winning bidders)
C.$5 billion; 4 percent
D.$5 billion; 5 percent
6) the following data confronting a firm:
refer to the above data. this firm is selling its output in a(n):
a.imperfectly competitive market.
b.monopolistic market.
c.purely competitive market.
d.oligopolistic market.
7) (Consider This) The Consider This box “Of Catfish and Art (and Other Things in
Common)” lists examples of recent antitrust cases involving:
A.monopolization.
B.tying contracts.
C.price fixing.
D.horizontal mergers.
8)
refer to the above diagram. the area that identifies the maximum sum of consumer
surplus and producer surplus is:
a.a + b + c + d + e + f.
b.c + d + f.
c.a + b + e.
d.a + b + c + d.
9) Which of the following is correct?
A.Money is a resource, but real capital is not.
B.Real capital is a resource, but money is not.
C.Neither money nor real capital is a resource.
D.Both money and real capital are resources.
10) Which of the following are all assets to a commercial bank?
A.demand deposits, stock shares, and reserves
B.vault cash, property, and reserves
C.vault cash, property, and stock shares
D.vault cash, stock shares, and demand deposits
11)
refer to the above diagram. marginal utility:
a.increases at an increasing rate.
b.becomes negative after consuming 4 units of output.
c.is found by dividing total utility by the number of units purchased.
d.cannot be calculated from the total utility information.
12) Since 1950, the energy efficiency of the United States economy in terms of
producing goods and services has:
A.not changed.
B.more than doubled.
C.risen about 50 percent.
D.risen more than threefold.
13)
refer to the above data. the value for w is:
a.15
b.20
c.25
d.30