Pre Chapter 01 Quiz Question 1 2 out of 2 points Mediocre economists often consider only the immediate apparent effects of a change whereas a good economist will also consider effects that may only become observable over time This statement most clearly emphasizes Answer s a the importance of secondary effects b economizing behavior c the fact that association is not causation d the fallacy of composition Question 2 2 out of 2 points When economists say a good is scarce they mean Answer s a there are only a limited number of consumers who would be interested in purchasing the good b the production of the good has no opportunity cost for society c the human desire for the good exceeds the amount freely available from nature d most people in poorer countries do not have enough of the good Question 3 2 out of 2 points When economists say an individual has made a rational choice they mean the individual has Answer s a made the choice by weighing their own subjective costs and benefits b neglected to consider the unintended consequences arising from their decision c ignored their own personal interests and made the choice that is best for society d made a good decision one that reasonable outside observers would have also made Question 4 2 out of 2 points Economics is primarily the study of Answer s a how to operate a business successfully b how to make money in the stock market c the allocation of scarce resources in an effort to satisfy wants that are virtually unlimited d the methods business firms use to reduce their costs of production Question 5 2 out of 2 points The fallacy of composition is the incorrect view that Answer s a when two events are associated the one observed first must have caused the second b a small change in an economic variable will have unrecognizable but significant consequences on the economy c if something is true for an individual then it must also be true for the group d everything else is always held constant when a change occurs Question 6 2 out of 2 points A marginal change usually is a Answer s a change for the worse and so it is usually a short term change b change that involves little if anything that is important c small incremental adjustment d large significant adjustment Question 7 2 out of 2 points When economists use the term ceteris paribus they are indicating that Answer s a the relationship between two economic variables cannot be determined b all other variables except the ones specified are assumed to be constant c their conclusions are based on normative economics rather than positive economic analysis d the analysis is true for the individual but not for the economy as a whole Question 8 2 out of 2 points In economics secondary effects refer to the Answer s a best alternative that must be forgone as the result of a choice b immediate and visible intended consequences of a change c impact of the scarcity of resources on the scarcity of the goods that are produced with those resources d unintended consequences of a change that are not immediately identifiable but are felt only with time Question 9 2 out of 2 points In economics the term marginal refers to Answer s a man made resources as opposed to natural resources b the change or difference between two alternatives c holding everything else constant in the analysis d the satisfaction a consumer receives from a good Question 10 2 out of 2 points Economic choice and competitive behavior are the result of Answer s a poverty b public ownership of resources c private ownership of resources d scarcity Question 11 1 out of 1 points If you have a conflict with normal office hours what should you do Answer s a Forgetta bout it your question wasn t important anyway b Go to the Dean s office and complain c Camp outside Calhoun s door and wait d Send an email requesting another date and time Have you read the document testing procedures and understand how the midterm exams will be administered When is the deadline for changing or correcting a score from clicker points or any other assignment Question 12 1 out of 1 points Answer s a Ye s b No Question 13 1 out of 1 points Answer s a Two weeks from the posting date on Blackboard b The last day of class c Whenever d By the end of the next semester Question 14 1 out of 1 points What is the minimum dollar amount to earn a C Answer s a 3 6 50 b 3 5 00 c 3 0 00 d 2 0 00 Question 15 1 out of 1 points What should you do if you see a paper and pencil icon instead of a number for your score on a quiz Selected Answer c Nothing that attempt will eventually be cleared DO NOT email Calhoun about interrupted quizzes Please see Quiz procedures for details a Drop the class b Email Calhoun at least 10 times to get it fixed Answers c Nothing that attempt will eventually be cleared DO NOT email Calhoun about interrupted quizzes Please see Quiz procedures for details d Call the FSU police Pre Chapter 02 Quiz Question 1 1 out of 1 points When is the deadline for changing or correcting a score from clicker points or any other assignment Selected Answer b Answers Two weeks from the posting date on Blackboard a By the end of the next semester b Two weeks from the posting date on Blackboard c The last day of class d Whenever Question 2 1 out of 1 points If you experience a life event that prevents you from performing the best you can for class what should you do Selected Answer b Contact Calhoun as soon as reasonably possible to discuss your situation Answers a Wait until the end of the semester to contact anyone b Contact Calhoun as soon as reasonably possible to discuss your situation c Drop the class d Withdraw from FSU Question 3 1 out of 1 points How should you end all emails sent to Dr Calhoun Selected Answer d State your full registered name and class a b State your nickname and home phone number c With your SSN and Blackboard password d State your full registered name and class Answers Answers Question 4 1 out of 1 points What will happen if you become a distraction during class Selected Answer a You will be asked to quietly and quickly leave the room and you will lose all in class credit for the day a You will be asked to quietly and quickly leave the room and you will lose all in class credit for the day b Nothing Calhoun isn t really serious about a good learning environment c Your classmates will love you more d You ll be poked on Facebook Question 5 1 out of 1 points What is the minimum dollar amount to earn a C Selected Answer a …
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