11. Many people worry that politicians spend too much time raising money and end up entangled with special interest groups that make major donations. True or False.
a. True
b. False
11. Many people worry that politicians spend too much time raising money and end up entangled with special interest groups that make major donations. True or False.
a. True
b. False
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Related questions
Question 1
The law of demand states that there is a direct relationship between supply and demand.
True
False
4 points
Question 2
Equilibrium is a state of balance between supply and demand.
True
False
4 points
Question 3
Goods are scarce for both rich and poor.
True
False
4 points
Question 4
"The big corporations in this country, like ExxonMobil and GM, have deep pockets and need to be hiring more people." This is a positive statement about economic policy.
True
False
4 points
Question 5
The law of supply states that there is a direct relationship between price and quantity demanded.
True
False
4 points
Question 6
In the circular flow model, firms own economic resources, and householdsbuy the manufactured products and services.
True
False
4 points
Question 7
Households play a dual role of providing the factors of production whilepurchasing the goods and services of firms.
True
False
4 points
Question 8
Opportunity cost is the lowest valued benefit that must be sacrificed asthe result of choosing an alternative.
True
False
4 points
Question 9
Scarcity denotes that our desire for a good exceeds the amount that isfreely available from nature.
True
False
4 points
Question 10
Economics is a social science concerned with satisfying man's unlimitedwants with limited resources.
True
False
4 points
Question 11
Joint output of individuals or nations will be maximized when goods areexchanged between parties in accordance with the law of"comparative advantage".
True
False
4 points
Question 12
The production possibilities frontier assumes that the level of technologyvaries when applying the model.
True
False
4 points
Question 13
Excess demand in the market will cause the price of a product to decline.
True
False
4 points
Question 14
Demand is measured on the vertical axis and supply on the horizontalaxis.
True
False
4 points
Question 15
A change in quantity demanded is a movement along the same demandcurve.
True
False
4 points
Question 16
As globalization and world trade proliferates, individual markets withincountries' economies become more competitive.
True
False
4 points
Question 17
Which growth theory compares a subsistence real wage rate to the actual real wage rate?
Classical growth theory | ||
Inflation growth theory | ||
Neoclassical growth theory | ||
New growth theory |
4 points
Question 18
Suppose the working age population in Tiny Town is 100 people. If 25 of these people are NOT in the labor force, the ________ equals ________.
unemployment rate; 25/100 Ã 100 | ||
employment rate; 25/75 Ã 100 | ||
labor force; 75 | ||
labor force; 25/100 Ã 100 |
4 points
Question 19
Suppose there is a rise in the real wage rate. As a result, the quantity of labor demanded:
increases. | ||
decreases. | ||
does not change because there is no change in the money wage rate. | ||
increases only if the price level also decreases. |
4 points
Question 20
GDP can be computed as the sum of:
all sales that have taken place in an economy over a period of time. | ||
the total expenditures of consumers and business over a period of time. | ||
the total expenditures of consumption, investment, and government expenditure on goods and services over a period of time. | ||
the total expenditures of consumption, investment, government expenditure on goods and services, and net exports over a period of time. |
4 points
Question 21
The real wage rate equals:
(100 x (money wage rate/price level) | ||
(100 x (price level/money wage rate) | ||
(money wage rate x (price level) | ||
(money wage + (number of hours worked/(price level) |
4 points
Question 22
If the CPI was 121.5 at the end of 2007 and 138.3 at the end of 2008, the inflation rate over these two years was:
10.2 percent. | ||
13.8 percent. | ||
12.2 percent. | ||
16.8 percent. |
4 points
Question 23
A movement along the production function is the result of a change in:
the quantity of labor. | ||
technology. | ||
capital. | ||
interest rates. |
4 points
Question 24
All of the following are part of fiscal policy EXCEPT:
setting tax rates. | ||
setting government spending. | ||
choosing the size of the government deficit. | ||
controlling the money supply. |
4 points
Question 25
Along a production possibilities frontier for real GDP and the quantity of leisure time, as leisure time increases, real GDP:
decreases. | ||
increases. | ||
stays the same. | ||
could increase, decrease or stay the same. |
1) What is one of the reasons that interest groups have proliferated over the past half century?
a. Developments in technology made interest group activities easier.
b. A decline in government performance prompted new groups to form.
c. Interest groups became more successful in running candidates for office.
d. Legal restrictions on lobbying activities were lifted.
e. A decline in political parties led to more interest group formation.
2) Which of the following is an example of a single-issue interest group?
a. the Chamber of Commerce
b. the American Association of Retired Persons
c. the Virginia 21 Coalition
d. Common Cause
3) Which of the following is a cost of voting?
a. party identification
b. being informed
c. gender
d. political efficacy
4) Which of the following is an example of the free-rider (or collective action) problem?
a. an elected official accepting bribes from an interest group
b. an elected official relying on information from lobbyists
c. a political action committee contributing to candidates from both major political parties
d. an environmental group struggling to raise funds for a âclean airâ campaign
5) Referring to Figure 10.2, which of the following statements about PAC campaign contributions made by banks and labor unions is true?
a.
Labor PACS donate slightly less money to campaigns overall than do banking PACs.
b.
Banking PACS direct their donations to support whichever candidate shares their ideological values. c. Labor PACs consistently give the majority of their PAC money to Democrats, even when Republicans control Congress. d. Banking PACS focus their money on Democrats, but when Republicans are in power, they split their donations between the two parties. 6) With the formation of so many interest groups in recent years and with so many of them having influence in Washington, __________ argue that it has been increasingly difficult to accomplish major policy change in Washington. a.pluralists b.hyperpluralists c. elitists d. labor unions |