71.              What will happen to a blood cell that is placed in pure water? A)The cell will shrink because there will be a net flow of water to the outside of the cell. B)The cell will shrink because there will be a net flow of electrolytes to the outside of the cell. C)The cell will expand because there will be a net flow […]

  14.6   Integrative Questions       1) The table above table shows A) a total product schedule. B) the market for labor. C) a production possibility frontier. D) a supply schedule. E) a demand for labor schedule.   2) Which of the following variables do you need to know to calculate marginal cost? i)change in total cost ii)marginal product of labor iii)change in quantity […]

    61.All of the following provide about 5 grams of fat each except: a.1 cup sour cream. b.1 teaspoon oil. c.1 tablespoon salad dressing. d.1 1/2 teaspoons margarine.   62.A person eating at a restaurant orders a trimmed grilled pork cutlet, tossed green salad with 2 tablespoons of Italian dressing, sweet potatoes with sugar glaze, cheese biscuits, and chocolate mousse for dessert. What comments […]

  22) A theory of aggregate economic fluctuations called real business cycle theory holds that A) changes in the real money supply are the only demand shocks that affect the natural rate of output. B) aggregate demand shocks do affect the natural rate of output. C) aggregate supply shocks do affect the natural rate of output. D) changes in net exports are the only demand […]

  21) A negative income tax A) is a regressive income tax. B) is currently in use in the United States. C) makes the redistribution of income efficient. D) provides every household with a guaranteed minimum annual income. E) cannot be enacted in the United States because it is unconstitutional.   22) With a negative income tax that has a $10,000 guaranteed income and a […]

    42.Which one of the following is often used to determine a standard price for materials? A.Time-and-motion studies B.A union labor contract C.Price lists provided by suppliers D.Materials requisition forms   43.Which of the following is a method of determining the standard quantity of direct labor? A.An analysis of past data regarding overhead required for various levels of production B.Labor contract negotiated with the […]

    61) ________ is/are the payment for the factor of production ________. A) Wages; capital B) Interest; labor C) Profit; entrepreneurship D) Rent; capital   62) Investment spending includes spending on A) stocks. B) food. C) changes in business inventories. D) transfer payments.   63) Which of the following are not considered part of government purchases? A) welfare benefits B) teacher’s salaries paid by […]

  51) A point lying inside the production possibilities boundary is one at which A) there is no scarcity. B) the opportunity cost of producing more output is negative. C) it is not possible to produce more output with existing resources. D) the economy has run out of resources. E) more output could be produced with existing resources. 52) If a country’s production possibilities boundary […]

  31. Patrick owns a home on the beach in Daytona. He lives in the house for most of the year but leaves town during the big motor sports race that comes through every year. During that time, he rents his home out for 3 weeks to race fans for $5,000. Which of the following is true? a. Because Patrick rents the house for such a short […]

  18.3   Fiscal Policy in the Dynamic Aggregate Demand and Aggregate Supply Model   Figure 18-5   1) Refer to Figure 18-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely A) decrease government spending. B) […]