Suppose Australia, a land (K)-abundant country, and Sri-Lanka, a labor(L)-abundant country, both produce labor and land intensive goods with the same technology. 29) Refer to above figure. Imagine that the relative capital abundance of Australia was so much greater than that of Sri-Lanka, that we would have to locate Australia far to the right on the K/L axis. If this were so […]
41) If the marginal social cost of generating a kilowatt of electricity is $0.10 and the marginal private cost is $0.08, what is the marginal external cost? A) $0.18 B) $0.10 C) $0.08 D) $0.02 E) $0.80 42) If the marginal social cost of producing a ton of cement is $4,000 and the marginal private cost is $3,500, then the A) marginal […]
21.___________ theory argues that the bandwidth of communication influences the degree to which the communication is personal or impersonal. a.Social exchange b.Social information processing c.Cognitive processing d.Social presence 22.Good excuse makers do all of the following EXCEPT a.use excuses in moderation. b.take responsibility for their behavior. c.make excuses often. d.avoid blaming others. 23.According to _______________ theory, you can develop close relationships in both face-to-face […]
61) A price floor is a price A) below which a seller cannot legally sell. B) above which a seller cannot legally sell. C) that creates a shortage of the good if it is set above the equilibrium price. D) Both answers A and C are correct. E) Both answers B and C are correct. 62) The graph shows the labor market for […]
41. Redford’s salary was $124,000 in 2014. What would his total combined FICA tax (OASDI& Medicare) withheld from his salary be for the year? a. $8,951 b. $9,052 c. $9,486 d. $10,000 e. None of the above is correct 42. Elwin worked at three jobs during 2014. He earned $30,000, $27,000, and $9,000, respectively, from the jobs. What amount can Elwin apply as a credit against his 2014 income tax liability […]
31) Changes in which of the following factors do NOT shift the demand curve? A) the price of the good B) buyers’ incomes C) the price of a substitute good D) the number of buyers E) the price expected in the future 32) If the demand for used cars decreases after the price of a new car falls, used cars and new cars […]
101. For each of the following situations, indicate whether the taxpayer(s) is(are) required to file a tax return for 2014. Explain your answer. a. ?Debra, age 68, and Jerry, age 70, are married and file a joint return. They received $24,000 in interest income from a savings account. b.Margie is a single taxpayer with wages in 2014 of $8,400 and interest income of $200. c. […]
65. The Lagerstroemia Corporation was formed on January 1, 2014. Calculate the Lagerstroemia Corporation’s taxable income or loss for 2014 given the following information: Gross receipts$255,000 Cost of goods sold$150,000 Dividend income (from 10 percent-owned domestic corporation)$ 35,000 Interest income$ 10,000 Business expenses (other than organizational costs and charitable contributions)$120,000 Charitable contributions$ 5,000 Organizational costs expensed$ 5,000 Taxable income/(loss)$ ANSWER: Gross receipts$ 255,000 Cost of […]
7.1 Price Ceilings 1) A price ceiling A) is an illegal price. B) is the price that exists in a black market. C) is the maximum price that can legally be charged. D) Both answers A and B are correct. E) Both answers B and C are correct. 2) A price ceiling is A) a maximum legal price. B) a minimum […]
11) Suppose a tax equal to the value of the marginal external cost at the optimal output is imposed on a pollution generating good. All of the following will result from the tax except A) an increase in the equilibrium market price. B) a decrease in the equilibrium quantity produced and consumed. C) a decrease in market supply of the good. D) an […]
81. Which of the following is a social consequence of online communications?
A. Social alienation
B. Moral panic
C. Self-victimization
D. Internet bullying
82. How does online communication improve social connectedness?
A. By providing greater feedback mechanisms
B. By reducing the level of self-disclosure
C. By providing a level of anonymity to the user
D. By reducing the importance of non-verbal communication
83. Across adolescence, romantic relationships
A. create insecurity in the peer group.
B. are considered less important than academics.
C. become more intense and intimate.
D. tend to be long-term commitments.
84. Which of the following is true with regard to romantic relationships among the adolescents?
A. Girls appear to be less confident than boys about these early romantic relationships.
B. By age 16, adolescents interact with and think about romantic partners more than they think about parents, friends, or siblings.
C. In midadolescence, most young people have had at least three exclusive partners lasting only for few months.
D. Interacting with someone of the opposite sex interferes with cognitive processes for both males and females.
85. Emotional dating violence occurs when a partner is _____.
A. threatened
B. lied to
C. cheated on
D. forced to have sex
86. _____ dating violence occurs when a partner is hit, pinched, shoved, or kicked.
A. Functional
B. Physical
C. Emotional
D. Sexual
87. Which of the following biological factors contribute to antisocial behavior?
A. Obsessive compulsive disorder (OCD)
B. Pulmonary infections
C. Hereditary diseases
D. Attention-deficit/hyperactivity disorder (ADHD)
88. Which type of antisocial behavior tends to lead to chronic juvenile delinquency in adolescence?
A. Secondary-onset type
B. Early-onset type
C. Dominant-onset type
D. Late-onset type
89. Which of the following is a potential warning sign of the likelihood that an adolescent will commit acts of aggression?
A. Refusal to play with other children at school
B. Lack of concern for the feelings of the poor and needy
C. Early onset of sexual activity
D. Parent-child interactions characterized by constant criticism
90. Antisocial adolescents tend to have antisocial friends, and their antisocial behavior increases when they associate with each other, a process referred to as _____.
A. free riding
B. psychosocial moratorium
C. deviancy training
D. identity diffusion
91. _____ is the strength of social connections within a neighborhood and the extent to which residents monitor or supervise each other's children.
A. Collective efficacy
B. Social cohesion
C. Psychosocial moratorium
D. Foreclosure
92. Adolescents who have taken part in early childhood intervention programs
A. are more likely to become introverted.
B. have fewer aspirations for the future.
C. have lower self-esteem.
D. are less likely to get in trouble.
93. The proposed transitional period between adolescence and adulthood, usually extending from the late teens through the mid-20s is referred to as _____.
A. emerging adulthood
B. the gender revolution
C. a mid-life crisis
D. late adolescence
94. Which of the following situations characterizes emerging adulthood?
A. Janet, a 27-year-old corporate trainer, who is expecting her first baby with her husband, Mike
B. Carter, a 17-year-old gymnast, who wants to focus completely on sports but is continuing with his academics because of parental pressure alone
C. Michelle, a 20-year-old law intern, is financially independent but continues to stay with her parents.
D. Rob, an 18-year-old tennis player, who needs his parents support and approval in taking any decision
95. Which of the following criteria has NOT been mentioned as a marker of emerging adulthood?
A. Accepting responsibility for oneself
B. Learning to involve others in decision making
C. Becoming financially independent
D. Making independent decisions
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