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Test Bank For Microeconomics For Today 8th Edition by Tucker
Test Bank For Microeconomics For Today 8th Edition by Tucker
MULTIPLE CHOICE
a. a. There is usually more than one use of your "free" time in the evening.
b. More clean air is wanted than is available in large polluted metropolitan areas such as Los
Angeles.
c. There are many competing uses for the annual budget of your city, county, or state.
d. All of the answers are correct.
4. Scarcity is a problem:
a. measured by the amount of goods available.
b. of the poor, but not the rich.
c. because human wants are unlimited while resources are limited.
d. only in industrialized economies.
ANS: C PTS: 1 DIF: Easy NAT: BUSPROG: Analytic
6. Scarcity is a(n):
a. problem only in industrialized economies.
b. condition measured by the quantity of goods available.
c. subjective concept that human wants can never be satisfied.
d. problem only in poor economies.
ANS: C PTS: 1 DIF: Easy NAT: BUSPROG: Analytic
TOP: The Problem of Scarcity KEY: Bloom's: Knowledge
8. Scarcity:
a. exists because resources are unlimited while human wants are limited.
b. means we are unable to have as much as we would like to have.
c. will likely be eliminated as technology continues to expand.
d. is not an issue addressed in economics.
ANS: B PTS: 1 DIF: Easy NAT: BUSPROG: Analytic
TOP: The Problem of Scarcity KEY: Bloom's: Comprehension
12. Scarcity:
a. is a problem only in the poorer countries of the world.
b. can be solved by rapid advances in technology.
c. is a problem that exists in every economy.
d. is not a problem for the very rich.
ANS: C PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic
TOP: The Problem of Scarcity KEY: Bloom's: Knowledge
14. The perpetual state of insufficiency of resources to satisfy people's unlimited wants is:
a. apparent only in poor countries.
b. completely unrealistic.
c. present in modern economies, but not in the past.
d. the definition of scarcity.
ANS: D PTS: 1 DIF: Easy NAT: BUSPROG: Analytic
TOP: The Problem of Scarcity KEY: Bloom's: Comprehension
PHILÆ.
RESURRECTION OF OSIRIS.