1) since 1941 personal taxes have:
a.risen absolutely, but declined as a percentage of personal income.
b.risen both absolutely and as a percentage of personal income.
c.fallen absolutely, but risen as a percentage of personal income.
d.fallen both absolutely and as a percentage of personal income.
2) If the current price level was such that the aggregate quantity demanded exceeded
the aggregate quantity supplied, we would expect:
A.inflation to occur.
B.the aggregate demand curve to shift rightward.
C.the aggregate demand curve to shift leftward.
D. the aggregate supply curve to shift leftward.
3) A merger between a maker of household detergents and a fast food chain would be an
example of:
A.a horizontal merger.
B.an interlocking directorate.
C.a conglomerate merger.
D.a tying contract.
4) For which of the following income-maintenance programs is aggregate spending the
greatest?
A.Medicare
B.Social Security
C.unemployment compensation
D.TANF
5) which of the following statements applies to a purely competitive producer?
a.it will not advertise its product.
b.in long-run equilibrium it will earn an economic profit.
c.its product will have a brand name.
d.its product is slightly different from those of its competitors.
6) worker migration will cause wage rates to equalize across two countries if all of the
following conditions are met except:
a.migration is motivated strictly by wage differentials.
b.neither nation restricts or interferes with migration.
c.both countries use the same amount of capital and have the same level of technology.
d.migration has no cost.
7) The wide imitation and spread of an innovation is called:
A.innovation.
B.invention.
C.creative destruction.
D.diffusion.
8) If per capita trash generation is constant over time, this implies that:
A.per capita consumption of solids has also been constant.
B.per capita consumption of goods and services has also been constant.
C.total consumption of solids has also been constant.
D.total consumption of goods and services has also been constant.
9)
Refer to the above table. An increase in net exports of $10 would:
A.increase real GDP by $10.
B.increase real GDP by $30.
C.decrease real GDP by $10.
D.decrease real GDP by $30.
10) in which of the following industries are economies of scale exhausted at relatively
low levels of output?
a.aircraft production
b.automobile manufacturing
c.concrete mixing
d.newspaper printing
11) In fisheries management, ITQ stands for:
A.International Transferable Quota.
B.Individual Transferable Quota.
C.International Tuna Quotas.
D.Individual Trolling Quotas.
12) The amount of land in the world covered by forest is changing at an average annual
rate of approximately:
A.negative 0.2 percent.
B.positive 0.2 percent.
C.negative 2.0 percent.
D.positive 2.0 percent.