Foundations of economics 6th by parkin ch01 clicker questions

Click Clickon onthe thebutton buttontotogo gototothe theQuestion problem © 2013 Pearson Getting Started CLICKER QUESTIONS © 2013 Pearson Click Clickon onthe thebutton buttontotogo gototothe theQuestion problem Checkpoint 1.1 Checkpoint 1.2 Question Question 11 Question Question 66 Question Question 22 Question Question 77 Question Question 33 Question Question 88 Question Question 44 Question Question 99 Question Question 55 Question Question 10 10 © 2013 Pearson CHECKPOINT 1.1 Question To economists, scarcity means that A limited wants cannot be satisfied by the unlimited resources B a person looking for work is not able to find a job C the number of people without jobs rises when economic times are bad D there can never be answers to the what, how, or for whom questions E unlimited wants cannot be satisfied by the limited resources © 2013 Pearson CHECKPOINT 1.1 Question The question “Do economics majors or sociology majors earn more after they graduate?” is an example of a question A what B how C for whom D where E why © 2013 Pearson CHECKPOINT 1.1 Question The only thing that is relevant when a person makes a rational choice is _ A the opinion of society B the price of the good the person wants to purchase C whether or not the outcome of the choice will be favorable D the wants and preferences of the person making the choice E the person is following incentives © 2013 Pearson CHECKPOINT 1.1 Question The following statement answers the question, answers the question, and answers the question Today, most stores use computers to keep their inventory records whereas 20 years ago stores used paper records Health-care professionals and drug companies suggest that Medicaid drug rebates be available to all in need A B C D A higher gas tax might lead to a better public transit system what and for whom; what and for whom; how how; how; what and for whom what and how; how and for whom; how how; for whom; what and for whom © 2013 Pearson CHECKPOINT 1.1 Question If a decision is made and it is the best choice for society, the decision is said to be A a valid economic choice B made in self-interest C made in the social interest D consistent with scarcity E a want-maximizing choice © 2013 Pearson CHECKPOINT 1.2 Question Jamie has enough money to buy a Mountain Dew, a Pepsi, or a bag of chips He chooses to buy the Mountain Dew The opportunity cost of the Mountain Dew is A the Pepsi and the bag of chips B the Pepsi or the bag of chips, whichever is the highestvalued alternative forgone C the Mountain Dew D the Pepsi because it is a drink, as is the Mountain Dew E zero because he enjoys the Mountain Dew © 2013 Pearson CHECKPOINT 1.2 Question If the marginal benefit of the next slice of pizza exceeds the marginal cost, you will A eat the slice of pizza B not eat the slice of pizza C be unable to choose between eating or not eating D eat half the slice E eat or will not eat the slice, depending on how much the marginal benefit exceeds the marginal cost © 2013 Pearson CHECKPOINT 1.2 Question When people make rational choices, they A behave selfishly B not consider their emotions C weigh the costs and benefits of their options and act to satisfy their wants D necessarily make a decision in the social interest E are necessarily making the best decision © 2013 Pearson CHECKPOINT 1.2 Question Which of the following is a microeconomic issue? A Why has unemployment risen across the country? B Why has economic growth been so rapid in China? C What will happen to the quantity of Pepsi purchased if consumers’ tastes change in favor of non-carbonated drinks? D Why is the average income lower in Africa than in Latin America? E Why did overall production within the United States increase last year? © 2013 Pearson CHECKPOINT 1.2 Question 10 Which of the following statements is a normative one? A If cars become more expensive, fewer people will buy them B Cars emit pollution C If wages increase, firms will fire some workers D Fewer people die in larger cars than in smaller cars E Car prices should be affordable © 2013 Pearson ... Dew, a Pepsi, or a bag of chips He chooses to buy the Mountain Dew The opportunity cost of the Mountain Dew is A the Pepsi and the bag of chips B the Pepsi or the bag of chips, whichever is the... CHECKPOINT 1.2 Question If the marginal benefit of the next slice of pizza exceeds the marginal cost, you will A eat the slice of pizza B not eat the slice of pizza C be unable to choose between eating... answers to the what, how, or for whom questions E unlimited wants cannot be satisfied by the limited resources © 2013 Pearson CHECKPOINT 1.1 Question The question “Do economics majors or sociology majors