Archives: Quiz

To open the Navigation Pane, tap or click the ____ Button. a. Open Navigation Pane b. Open Pane c. Shutter Bar Open/Close d. Navigation Bar Show/Hide You can nest IF functions as deep as you want, but after you get […]

Which of the following describes a potentially damaging computer program that affects, or infects, a computer negatively by altering the way the computer works without the user’s knowledge or permission? a. hotspot b. file compression utility c. virus d. file […]

Each Outlook folder displays the items it contains in a layout called a(n) ____. a. arrangement b. view c. list d. collection Word provides a means of canceling your recent ____. a. applications b. indices c. actions d. commands Answer: […]

Which kind of desktop uses the same case to house the screen and processing circuitry? a. all-in-one b. tower c. slate d. convertible Which of the following is a special-purpose computer that functions as a component in a larger product? […]

Most websites of the kind shown in the accompanying figure require payment for services. a. True b. False The ____ button allows you to erase recent cell entries. a. Undo b. Cell Style c. Bold d. Increase Decimal Answer: a […]

You are thinking about no longer using the default browser for your Mac and instead switching to a new one. Which browser will you no longer be using if you do this? a. Safari b. Internet Explorer c. Firefox d. […]

When you ____ a clip art picture, PowerPoint breaks it into its component objects, as shown in the accompanying figure. a. regroup b. split c. ungroup d. merge A website’s home page is most analogous to which of the following? […]

____ effects determine how slide elements first appear on a slide. a. Exit b. Entrance c. Emphasis d. Exciting The ____ pane includes a list of available calendars where you can view a single calendar or additional calendars side by […]

Which of the following is an example of a mobile device? a. supercomputers b. installed media modems c. smartphones d. servers Well-produced video clips add value when they help explain a procedure or show movement that cannot be captured in […]

Wildcards are symbols that represent any character or combination of characters. ____________________ If your hand is on the keyboard, use the ribbon for formatting. _________________________ Answer: False – mouse The list of available fonts in the Fonts gallery may differ, […]

Line spacing is the amount of space above and below a paragraph. _________________________ Word provides more than 25 picture formats — named groups of formatting characteristics that enable you easily to change a picture’s look to a more visually appealing […]

You can enter the correct range in a function by typing the beginning and ending cell pont separated by a ____. a. semi-colon (;) b. colon (:) c. period (.) d. none of the above The adjusted cell point in […]

Which of the following shows the relationship between national income (GDP) and total spending? a. Demand schedule b. Consumption curve c. Expenditure schedule d. Balance schedule The price of coffee rose 50 percent and coffee sales fell 25 percent. Doughnut […]

The principal danger to Japan in 2001 when the yen was appreciating was that this would a. increase aggregate demand and make inflation worse. b. decrease aggregate demand and make the recession worse. c. decrease aggregate demand and make inflation […]

If a good has “snob appeal,” consumers may purchases less when the price falls. a. True b. False Net benefit is equal to total benefit minus marginal cost. a. True b. False Answer: False In the basic 45-degree line model, […]

Is GDP an accurate measure of a country’s well being? a. Yes, it is the best measure of national well being. b. Yes, provided we use real GDP and not nominal GDP. c. The answer is uncertain, depending on whether […]

An appreciation of the Japanese yen relative to the U.S. dollar will a. increase aggregate demand in the United States. b. increase aggregate supply in the United States. c. increase aggregate demand in Japan. d. decrease aggregate supply in Japan. […]

Which of the following is most likely to affect the supply of labor in any particular industry? a. the size of the available working population b. the nonmonetary attractiveness of the job c. the amount of ability and training necessary […]

Corporations have the disadvantage of (i) double taxation; (ii) unlimited liability. a. i and ii b. i not ii c. ii not i d. neither i nor ii Productivity increases, brought about by increased education and training, may shift the […]

The share of GDP taken by taxes is considerably higher in the United States than in other countries. a. True b. False In March 2015, many college students bet on the NCAA finals in dorm gambling pools. This is an […]

A change in the price level will cause a shift in the expenditure schedule. a. True b. False Which of the following could explain a fall over time in the price of the depletable resource aloe? a. The productivity of […]

Once the profit-maximizing output where MR = MC is determined, price is set by a. adding a standard markup percentage to marginal cost. b. the demand curve. c. making it equal to MR = MC. d. subtracting the marginal cost […]

Demand shifts due to changes in price. a. True b. False The accounting relationship between the budget deficit and the trade deficit may be expressed as ____. a. G + T = (S + I) + (X − IM) b. […]

Two economists from Ohio University estimated that the demand curve for kerosene in Indonesia was such that a 10 percent increase in the price reduced the quantity demanded by 2.2 percent and that a 10 percent increase in the price […]

In the short run, a firm has fixed costs but never any variable costs. a. True b. False If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition, […]

Average cost a. is always larger than marginal cost. b. declines for some range of output, hits a minimum, and then increases. c. is always smaller than marginal cost. d. is total cost/price of the product. One intention of deposit […]

National income minus personal taxes net of transfer payments equals disposable income. a. True b. False Governments of market-oriented economies never tamper with the price mechanism. a. True b. False Answer: False Graphs are valuable because they facilitate interpretation of […]

Collaborative research is especially important in high-technology sectors because a single firm might not have the resources to develop a significant innovation. a. True b. False The main international repercussion of either a fiscal expansion or monetary contraction is to […]

Looking at the record of concentration in the United States during the last century, one finds concentration has a. steadily increased. b. risen dramatically in the past 15 years. c. changed very little. d. fallen steadily except in wartime. Productivity […]

When will stabilization policy be most effective in combating inflation? a. when AS is flat b. when AS is very steep c. when AS has a moderately upward slope d. when AS has a moderately downward slope Self correcting mechanism […]

If wages or prices of other inputs change, the aggregate supply curve will shift to another position. a. True b. False Being a monopolist in the market a. guarantees a positive short-run profit. b. guarantees a positive long-run profit. c. […]

The demand curve for any input is the MP curve. a. True b. False The way in which a country benefits from trade is that it can a. obtain goods at lower opportunity cost than producing them itself. b. exploit […]

The production function shifts upward as the capital stock increases. a. True b. False A profit-maximizing monopolist a. is just as socially efficient as a perfectly competitive firm in allocating resources to production since she, too, seeks the largest return […]

The relative concept of poverty is based on how far behind average income a particular family gets. a. True b. False If the supply curve of a commodity is upward sloping, and the producing country begins to export more in […]

In the Keynesian causal chain, changes in GDP cause changes in the level of interest rates. a. True b. False Which of the following is concerned with the distribution part of resource allocation? a. An economy decides to produce equal […]

The Fed relies on open market operations, which work a. with the Treasury in creating money to finance bonds. b. through major stock exchanges to influence bond prices. c. directly through the nonbank public to change their assets. d. through […]

Which of the following most resembles a perfectly competitive market? a. the stock market b. the publishing industry c. the steel industry d. the new car market The largest share of the typical American family budget goes to: a. goods […]

The rate of interest written on a contract between a borrower and a lender is the a. nominal interest rate. b. real interest rate. c. implied interest rate. d. expected interest rate. Economist John Maynard Keynes wrote that the economy […]

Which of the following observations concerning poverty rates in America is true? a. Major increase in poverty in the decade from 1963 to 1973. b. It hit an all-time low by 1983. c. The economic boom of the 1990s restored […]

Activist capitalists who seek out or create earnings opportunities and assume risk, for which they receive profits, are called a. rent seekers. b. entrepreneurs. c. muckrakers. d. marginalists. Critics of supply-side economics argue that a. tax cuts do not affect […]

Tax deductions were significantly ____ under the Tax Reform Act of 1986. a. increased b. decreased c. expanded d. left unchanged for individual taxpayers Figure 3-7 What is the opportunity cost of moving from point B to point A in […]

Someone who is out of work because they are between jobs is experiencing a. frictional unemployment. b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment. How does the calculation of GDP include the costs of natural resource depletion that occurs […]

How extensively does the United States use quotas? a. Very little; there are few quotas on imports. b. Selectively; there are more quotas than most people realize. c. Widely; quotas are extensive and cover a wide range of goods. d. […]

The Great Depression of the 1930s led to a revolution in macroeconomic thinking, following the work of a. Arthur Laffer. b. Milton Friedman. c. Adam Smith. d. John Maynard Keynes. e. David Ricardo. Unlike a perfectly competitive firm, a monopolistically […]

Net worth increases in the same proportion as liabilities increase. a. True b. False Which of the following countries would have the most difficulty raising its level of average educational attainment? a. Canada b. Italy c. India d. Sudan Answer: […]

Which of the following would impose the greatest costs to society? a. high levels of expected inflation b. low levels of expected inflation c. variable rates of inflation d. stable rates of inflation An optimal decision is one that chooses […]

When large oligopolistic firms negotiate with the unions of their employees, the resulting bargaining process closely resembles a. perfect competition. b. a dual labor market. c. monopolistic competition. d. bilateral monopoly. Most economists believe that the theory of rational expectations […]

Total profit is maximized where a. MR = MC. b. marginal profit is zero. c. the slope of the marginal profit curve is zero. d. All of the above are correct. According to Baumol and Blinder, from the demand side […]

The benefits principle states that those who a. pay the taxes should reap the benefits. b. reap the benefits from government should pay the taxes. c. are best able to pay should pay for what they receive. d. pay taxes […]

Bigness, or large firms, may benefit consumers in which of the following ways? a. Larger firms usually charge lower prices than smaller firms. b. Larger firms with monopoly power definitely have greater incentive to be efficient and innovative. c. Larger […]