Econ 1 Macroeconomics Ccsf Test 1

Front 1

In order to be able to learn something, you must

Back 1

actively engage with what you are trying to learn

Front 2

One of the implications of Zinn's article on Colombus is that the choice of questions a scientist chooses to answer is

Back 2

in part determined by the ideological bias of the scientist

Front 3

To the Arawaks, human behavior seemed to reflect a view of human nature, which was defined as

Back 3

all in society are basically the same, so all should share equally

Front 4

Which of the following is true about the problem of ideology (bias?)

Back 4

The easiest way to notice our ideology is when we are confronted with a different ideology.

Front 5

Changing the way an issue is framed, or the way a question is asked, sometimes changes the conclusions reached by the model.

Back 5

TRUE

Front 6

We know that A causes B. We see B happen. We then conclude that A was the cause. This is an example of

Back 6

the fallacy of affirming the consequence.

Front 7

A person's ideology helps them make sense of the world around, but it also affects how they view themselves within that world.

Back 7

TRUE

Front 8

Scientists spend most of their time trying to disprove theories because

Back 8

while it is impossible to prove a theory, it can be shown to be false.

Front 9

One of the reasons why there is more agreement in the theory of physics than the theory of economics is

Back 9

physicists can run repeated, controlled experiments and economists cannot.

Front 10

The '9dot problem' highlights the problem of bias by illustrating how

Back 10

placing incorrect boundaries on a problem may make impossible to solve.

Front 11

A scientific paradigm includes the definitions of the important questions to be addressed, the basic actors, assumptions about those actors and the techniques that are considered to be proper for studying the questions posed.

Back 11

TRUE

Front 12

A basic ideological assumption of the conservative and liberal paradigms that form the basis of the textbook in this course is that human nature is

Back 12

all individuals are driven by self interest and have insatiable wants.

Front 13

If something is true for every individual firm in an industry, then it will also be true for the industry as a whole.

Back 13

FALSE

Front 14

The article 'Imagine if the Tea Party was black' suggests that how we view the actions and motivations of a group of people will be affected by our larger ideological view of the world.

Back 14

TRUE

Front 15

To an economic historian, the concept of 'class' refers to

Back 15

the role that a person plays in the process of production.

Front 16

Which of the following is NOT a middle class in the system of slavery.

Back 16

slave-owners

Front 17

The concept of the 'just price' suggests

Back 17

an hour of work should trade for an hour of work.

Front 18

A commodity is

Back 18

anything that is produced with the specific intent to be traded.

Front 19

Under feudalism, serfs had the incentive to find way to expand the level of production because

Back 19

they were able to keep all extra output beyond the obligation they owed to the lord.

Front 20

During the early period of putting out, both the serf and the merchant benefited. The system failed

Back 20

because the guilds and nobility saw it as a violation of feudal law and crushed it militarily.

Front 21

Under the putting out system, the serf is still an independent commodity producer, but under capitalism labor

Back 21

becomes a dependent commodity producer.

Front 22

An independent commodity producer is someone who

Back 22

owns their own tools, controls the process of production and owns the finished product.

Front 23

For most of human history

Back 23

cooperation has been more important than competition in allowing our survival.

Front 24

One major lesson from the history of economic systems is that throughout history, greed has been seen as part of human nature and was accepted as 'normal' behavior.

Back 24

FALSE

Front 25

The capitalist process of production is an example of

Back 25

dependent commodity production.

Front 26

Capitalism replaced feudalism in England because

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serfs were force into the new system by the enclosurs.

Front 27

Adam Smith argued that the division of labor was a positive innovation for everyone in society because

Back 27

it allows the economy to produce more output with the same resources.

Front 28

Proprietors and labor view the process of markets as C-M-C'. Capitalist see the process as M-C-C'-M'. These two view are

Back 28

different because the first is motivated by needs nad the second is motivated by the search for profit.

Front 29

Adam Smith argued that capitalist receive profit

Back 29

as a result of the work they put into running their company.

Front 30

karl Marx argued that capitalists receive profit

Back 30

because they pay their workers the cost of keeping them alive, but get to keep all of the value that workers create in the process of production.

Front 31

Accordding to Marx's theory of profit, wages were set at biological subsistence, so profit is determined by

Back 31

the length of the working day.

Front 32

Adam Smith argued that the government should not be involved in teh economy in any way, and should especially not provide any type of good or service.

Back 32

FALSE

Front 33

Which of the following is NOT one of the characteristics of Fee Simple property rights?

Back 33

The owner cannnot transfer the ownership unless the owner pays a fee.

Front 34

Opportunity cost ist he value of the

Back 34

next best alternative sacrificed when choices are made.

Front 35

An increase in teh quality of our labor resources that results from education would lead to an outward

Back 35

shift of the production possibilities frontier.

Front 36

From 1850 to about 1920, the change that was most important to driving US economic growth was

Back 36

increases in the quantity of capital.

Front 37

If 12.8 million children lived inhouseholds with incomes at or below the poverty level and the remaining 51.2 million children lived in households with incomes above the poverty level?

Back 37

20%

Front 38

Jake's wage last year was $14.40. After a raise his wage this year is %16.00. The growth rate (percentage increase) of his wage is

Back 38

11.1 percent

Front 39

In 2010, the share of national income going to profits was the highest it has been in the past 100 years.

Back 39

TRUE

Front 40

Approximately 75 percent of all of the real productive assets in the US are owned by approximately what percent of firms?

Back 40

0.04 percent

Front 41

Much of the equalization of family incomes that occurred between the Great Depression and 1979 has been reversed between 1979 and today.

Back 41

TRUE