Test Bank for M: Economics, The Basics, 2024 Release by Mike Mandel
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Course
Economics
Institution
Economics
Test Bank for M: Economics, The Basics, 4e 4th Edition 2024 Evergreen Release by Mike Mandel. Complete chapters (Chap 1 to 19) are included with answers.
1 Introduction
2 Demand and Supply The Basics of the Market Economy
3 Market Equilibrium and Shifts
4 How Businesses Work
5 Comp...
Chap 01 2024 Release - Mandel
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Technological change is a key force in shaping today's economy.
1) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 1 Easy
Learning Objective : 01-02 Identify three of the main forces shaping todays economy.
Topic : Key Forces Shaping Todays Economy
Source : Chapter 01 Test Bank > TF Qu. 01 Technological change is a key force...
2) Globalization is the increasing exchange of goods, services, ideas, and people within a
country.
2) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 1 Easy
Learning Objective : 01-02 Identify three of the main forces shaping todays economy.
Topic : Key Forces Shaping Todays Economy
Source : Chapter 01 Test Bank > TF Qu. 02 Globalization is the increasing exchange of...
1
,3) Technological change is the only reason for globalization.
3) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 1 Easy
Learning Objective : 01-02 Identify three of the main forces shaping todays economy.
Topic : Key Forces Shaping Todays Economy
Source : Chapter 01 Test Bank > TF Qu. 03 Technological change is the only reason...
4) A laissez-faire economy has minimal government regulations or laws affecting the economy.
4) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Learning Objective : 01-03 Explain the debate over the role of government in the economy.
Topic : The Role of Government
Source : Chapter 01 Test Bank > TF Qu. 04 A laissez-faire economy has...
2
,5) History suggests that economic competition is the most consistent force for economic growth
and progress.
5) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Learning Objective : 01-03 Explain the debate over the role of government in the economy.
Topic : The Role of Government
Source : Chapter 01 Test Bank > TF Qu. 05 History suggests that economic competition is...
6) Deregulation includes reducing governmental control over some aspects of private industry,
while increasing control of others.
6) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Learning Objective : 01-03 Explain the debate over the role of government in the economy.
Topic : The Role of Government
Source : Chapter 01 Test Bank > TF Qu. 06 Deregulation includes reducing governmental control over...
3
, 7) The gross domestic product is the dollar value of all goods and services produced by the
economy.
7) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 1 Easy
Learning Objective : 01-04 Define economics and discuss how prosperity is measured.
Topic : The Definition of Economics
Source : Chapter 01 Test Bank > TF Qu. 07 The gross domestic product is the...
8) Most economists agree on the amount of government intervention necessary in an economy.
8) ______
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 1 Easy
Learning Objective : 01-05 Name some key disagreements in economics.
Topic : Disagreements in Economics
Source : Chapter 01 Test Bank > TF Qu. 08 Most economists agree on the amount...
4
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