FUFUN SYSTEM

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FUFUN SYSTEM

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Flashcard ECO111 (ECO111) - Ôn tập thẻ ghi nhớ | FUFUN - FUFUN

ECO111

Bộ thẻ của môn ECO111

FUFUN

·Tạo 15/4/2026· 368 thẻ

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Câu hỏi

Đáp án

QN=2 (17122) Mitch has $100 to spend and wants to buy either a new amplifier for his guitar or a new mp3 player to listen to music while working out. Both the amplifier and the mp3 player cost $100, so he can only buy one. This illustrates the basic concept that

A. trade can make everyone beBtter off.

B. people face trade-offs

C. rational people think at the margin.

D. people respond to incentives.

A. trade can make everyone beBtter off.

QN=3 (17123) Senator Smart, who understands economic principles, is trying to convince workers in her district that trade with other countries is beneficial. Senator Smart should argue that trade can be beneficial

A. only if it allows us to obtain things that we couldn't make for ourselves.

B. because it allows specialization, which increases total output.

C. to us if we can gain and the others involved in the trade lose.

D. in only a limited number of circumstances because others are typically self-interested.

B. because it allows specialization, which increases total output.

QN=4 (17136) Economics deals primarily with the concept of

A. scarcity.

B. money.

C. poverty.

D. banking.

B. money.

QN=5 (17126) Households and economies have each of the following in common EXCEPT both

A. must allocate scarce resources.

B. face many decisions.

C. must allocate the goods and services they produce.

D. must have a central decision maker.

A. must allocate scarce resources.

QN=6 (17130) An increase in the overall level of prices in an economy is referred to as

A. economic growth.

B. inflation.

C. monetary policy.

D. supply shocks.

QN=7 (17144) In an economy in which decisions are guided by prices and individual self-interest, there is

A. the potential to achieve efficiency in production.

B. a strong need for government intervention in the market.

C. less efficiency than would be observed in a centrally-planned economy.

D. more need for a strong legal system to control individual greed than would be needed in a centrally-planned economy.

B. a strong need for government intervention in the market.

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