[{"id":214649,"question":"A change in the full employment quantity of labor_________ the short run aggregate supply curve and ______ the long run aggregate supply curve.","choices":[{"text":"shifts ; shifts","value":"A"},{"text":"shifts ; does not shift","value":"B"},{"text":"does not shift ; shift","value":"C"},{"text":"does not shift ; does not shift","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214648,"question":"Which of the following is most likely to benefit a debtor.","choices":[{"text":"Un anticipated deflation","value":"A"},{"text":"Anticipated deflation","value":"B"},{"text":"Unanticipated inflation","value":"C"},{"text":"anticipated inflation","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214647,"question":"In the cost of slugger rises and slugger is major ingredient in jelly beans then the jelly bean.","choices":[{"text":"Demand curve shifts to the left","value":"A"},{"text":"Supply curve shifts to the left","value":"B"},{"text":"Supply curve shifts to the right","value":"C"},{"text":"Demand and supply curves both shift to the right","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214646,"question":"an more labor is added to a fixed amount of input the rate at which output goes up begins to decrease This is called.","choices":[{"text":"Diminishing marginal utility","value":"A"},{"text":"Diminishing marginal productivity","value":"B"},{"text":"Diminishing marginal costs","value":"C"},{"text":"Diminishing marginal profit","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214645,"question":"A politician proposes reducing business taxes, a move she says will encourage risk taking entrepreneurship This proposed cut in business taxes is intended to stimulate the economy mainly though.","choices":[{"text":"An increase in aggregate supply<hr id=\"null\">","value":"A"},{"text":"A decrease in aggregate supply","value":"B"},{"text":"A decrease in aggregate demand","value":"C"},{"text":"An increase in aggregate demand","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214644,"question":"In the circular flow diagram firms.","choices":[{"text":"Receive revenue and supply resources in the resource market","value":"A"},{"text":"Incur costs and demand resources in the resource market.","value":"B"},{"text":"Receive revenue and demand resources in the product market.","value":"C"},{"text":"Incur costs and supply goods and services in the product market.","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214643,"question":"Which of the following would most likely shift the production possibilities curve for a nation outward.","choices":[{"text":"A reduction in unemployment","value":"A"},{"text":"An increases in the production of capital goods","value":"B"},{"text":"A reduction in discrimination","value":"C"},{"text":"An increase in the production of consumer goods","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214642,"question":"An economy that has achieved full production has achieved","choices":[{"text":"Both allocative and productive efficiency","value":"A"},{"text":"Allocative but not productive efficiency","value":"B"},{"text":"Productive but not allocative efficiency","value":"C"},{"text":"Neither allocative nor productive efficiency","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214641,"question":"If the Federal Reserve wishes to increase the money supply it should.","choices":[{"text":"Raise the reserve requirement","value":"A"},{"text":"Raise the discount rate","value":"B"},{"text":"Buy Treasury securities in the open market","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214640,"question":"The monetary base is composed of.","choices":[{"text":"Gold and silver","value":"A"},{"text":"Currency and reserves","value":"B"},{"text":"Currency only","value":"C"},{"text":"Currency and checkable deposits","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214639,"question":"Which of the followings is NOT component of M-2","choices":[{"text":"Small time deposits","value":"A"},{"text":"Money market mutual funds","value":"B"},{"text":"Stocks","value":"C"},{"text":"Checkable deposits","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214638,"question":"Which of the following is a component of M1.","choices":[{"text":"Saving deposit","value":"A"},{"text":"Credit card","value":"B"},{"text":"Checkable deposit","value":"C"},{"text":"Gold","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214637,"question":"Which of the following IS a function of money.","choices":[{"text":"Medium of exchange","value":"A"},{"text":"Store of value","value":"B"},{"text":"Unit of accounting","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214636,"question":"Which of the following is automatic stabilizer.","choices":[{"text":"Unemployment benefits","value":"A"},{"text":"Spending on education","value":"B"},{"text":"Defense spending","value":"C"},{"text":"Net interest","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214635,"question":"According the Keynes when the great depression started , the government should have.","choices":[{"text":"Done nothing","value":"A"},{"text":"Decreased the money supply","value":"B"},{"text":"Had a large increase in government spending.","value":"C"},{"text":"Enacted high tariffs, such as the smoot Hawley tariff","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214634,"question":"Disposable incomes is equal to.","choices":[{"text":"National income Minus taxes","value":"A"},{"text":"Real GDP","value":"B"},{"text":"National income Minus taxes","value":"C"},{"text":"National income Minus Taxes plus transfers","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214633,"question":"The nominal interest rate is 5% and the inflation rate is 2% the real interest rate is.","choices":[{"text":"2%","value":"A"},{"text":"3%","value":"B"},{"text":"7%","value":"C"},{"text":"4%","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214632,"question":"\"Treating an individual as typical of a group.","choices":[{"text":"Pure discrimination","value":"A"},{"text":"statistical discrimination","value":"B"},{"text":"Human capital","value":"C"},{"text":"Specific skills","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214631,"question":"Skills that cna be transferred to other employers are called.","choices":[{"text":"General skills","value":"A"},{"text":"Specific skills","value":"B"},{"text":"Non pecuniary skills","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214630,"question":"Which of the following the most elastic demand the extra revenue a firm receives from the services of an additional unit of a factor of production.","choices":[{"text":"Total revenue","value":"A"},{"text":"Marginal physical product","value":"B"},{"text":"Marginal revenues product","value":"C"},{"text":"Marginal revenue.","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214629,"question":"In order of practice price discrimination which of the following is needed.","choices":[{"text":"Some degree of monopoly power","value":"A"},{"text":"An ability to separate the market","value":"B"},{"text":"An ability to prevent reselling","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214628,"question":"Compared to the case of perfect competition.","choices":[{"text":"Monopolist is more likely to","value":"A"},{"text":"Charge a higher price","value":"B"},{"text":"Produce a lower quantity of the product","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214627,"question":"In order to maximize profits a monopoly company will produce that quantity at which the","choices":[{"text":"A marginal revenue equals average total cost","value":"A"},{"text":"Price equals marginal revenue","value":"B"},{"text":"Marginal revue equals marginal cost","value":"C"},{"text":"Total revenue equals total cost","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214626,"question":"Why is the law of diminishing marginal returns ture.","choices":[{"text":"Specialization and division of labor","value":"A"},{"text":"Spreading the average fixed cost","value":"B"},{"text":"Limited capital","value":"C"},{"text":"All factors being variable in the long run","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214625,"question":"The nation, that, following currency depreciation, the balance of trade falls for a while before increasing is called a ________ effect.","choices":[{"text":"Relative price","value":"A"},{"text":"Elasticity","value":"B"},{"text":"J- Curve","value":"C"},{"text":"Pass through","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214624,"question":"In a market system, sellers act in ___________ interest, but thsi leads to behaviors in __________ interest.","choices":[{"text":"Self, self","value":"A"},{"text":"Self, society's","value":"B"},{"text":"Society's' , society's","value":"C"},{"text":"society's, self","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214623,"question":"In a pure market economy which of the following is a function of the price.<div>i - provide information to sellers and buyers</div><div>ii- Provide incentives to sellers and buyers</div>","choices":[{"text":"I only","value":"A"},{"text":"ii Only","value":"B"},{"text":"both i and ii","value":"C"},{"text":"Neither i nor ii","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214622,"question":"The goal of a pure market economy is to best meet the desires of","choices":[{"text":"Consumers","value":"A"},{"text":"Companies","value":"B"},{"text":"Workers","value":"C"},{"text":"The government","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214621,"question":"If there is a prices celling, which of the following is NOT likely to occur.","choices":[{"text":"Rationing by first come first served","value":"A"},{"text":"Black markets","value":"B"},{"text":"Gray markets","value":"C"},{"text":"Sellers providing goods for free that were formerly not free","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214620,"question":"If there is a price celling, there will be.","choices":[{"text":"Shortages","value":"A"},{"text":"surpluses","value":"B"},{"text":"Equilibrium","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1}]