Test Bank For Macroeconomics Principles and Policy 13th Edition by William J. Baumol

Test Bank For Macroeconomics Principles and Policy 13th Edition by William J. Baumol

Chapter No 2

True / False

1. The United States is the largest national economy in the world.

a. True

b. False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

LEARNING OBJECTIVES: DISC: Measuring the Economy

NATIONAL STANDARDS: United States – BPROG: Analytic

ACCREDITING STANDARDS: The study of economics, and defi – The study of economics, and definitions of economics

TOPICS: The American Economy: A Thumbnail Sketch

KEYWORDS: BLOOM’S: Knowledge

2. The U.S. economy is unique for both its size and prosperity.

a. True

b. False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy

LEARNING OBJECTIVES: DISC: Measuring the Economy

NATIONAL STANDARDS: United States – BPROG: Analytic

ACCREDITING STANDARDS: Measuring the Economy

TOPICS: The American Economy: A Thumbnail Sketch

KEYWORDS: BLOOM’S: Knowledge

3. The factors of production include all goods and services produced in an economy.

a. True

b. False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy

LEARNING OBJECTIVES: DISC: The study of economics, an – DISC: The study of economics, and definitions in economics

NATIONAL STANDARDS: United States – BPROG: Analytic

ACCREDITING STANDARDS: The study of economics, and defi – The study of economics, and definitions of economics

TOPICS: The American Economy: A Thumbnail Sketch

KEYWORDS: BLOOM’S: Knowledge

4. Outputs include goods but not services.

a. True

b. False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy

LEARNING OBJECTIVES: DISC: The study of economics, an – DISC: The study of economics, and definitions in economics

NATIONAL STANDARDS: United States – BPROG: Analytic

ACCREDITING STANDARDS: The study of economics, and defi – The study of economics, and definitions of economics

TOPICS: The American Economy: A Thumbnail Sketch

KEYWORDS: BLOOM’S: Knowledge

5. Population density varies little between the fifty states.

a. True

b. False

ANSWER: False

POINTS: 1

DIFFICULTY: Moderate

LEARNING OBJECTIVES: DISC: The study of economics, an – DISC: The study of economics, and definitions in economics

NATIONAL STANDARDS: United States – BPROG: Analytic

ACCREDITING STANDARDS: The study of economics, and defi – The study of economics, and definitions of economics

TOPICS: The American Economy: A Thumbnail Sketch