Econ 312 week 1, week 3 and week 5 quiz (principles of economics

ECON 312 Week 1 Quiz

1. Question: (TCO 6) Expansionary fiscal policy is so named because it

2. Question: (TCO 6) An economist who favors smaller government would recommend

3. Question: (TCO 6) The lag between the time and the need for fiscal action is recognized and the time the action is taken is referred to as the

4. Question: (TCO 5) The determinants of aggregate supply

5. Question: (TCO 6) Other things equal, a reduction in personal and business taxes can be…

6. Question: (TCO 6) The MPC can be defined as that fraction of a

7. Question: (TCO 6) The size of the MPC is assumed to be

8. Question: (TCO 5) Refer to the graph. Which of the following factors will shift AD1 to AD3?

9. Question: (TCO 6) The multiplier can be calculated as:

10. Question: (TCO 5) The American Recovery and Reinvestment Act of 2009

11. Question: (TCO 5) What effect would each of the following have on aggregate……? Explain.

12. Question: (TCO 6) Why do some economists believe that tax cuts are critical to help revive…?

ECON 312 Week 3 Quiz

1. Question: (TCO 3) Economic profits are calculated by subtracting

2. Question: (TCO 3) To economists, the main difference between the short run and the long…

3. Question: (TCO 3) Economists would describe the U.S. automobile industry as

4. Question: (TCO 3) A purely competitive seller is

5. Question: (TCO 3) Which of the following is correct?

6. Question: (TCO 3) Confronted with the same unit cost data, a monopolistic producer….

7. Question: (TCO 3) Monopolistic competition means

8. Question: (TCO 3) Product variety is likely to be greater in

9. Question: (TCO 3) Which of the following is the best example of oligopoly?

10. Question: (TCO 3) Concentration ratios measure the

11. Question: (TCO 3) What is the LAW OF DIMINISHING RETURNS, and why is this law…?

12. Question: (TCO 3) Identify the primary characteristics of monopolistic competition….

ECON 312 Week 5 Quiz