ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT

Nursing Assisting A Foundation in Caregiving 5th Edition Dugan Test Bank

ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT

MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers the question.1) Economics is best defined as the study of 1)

• inflation, interest rates, and the stock market.
• supply and demand.
• how people make choices in the face of scarcity and the implications of those choices

for society as a whole.

• the financial concerns of businesses and individuals.

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Bloom's : Remember

Difficulty : 01 Easy

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

2) Economics is best defined as the study of 2)

• the financial concerns of businesses and individuals.
• the role of government in limiting the choices people make.
• choice in the face of limited resources.
• whether we will have enough resources in the future. 1 / 4

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Bloom's : Remember

Difficulty : 01 Easy

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

3) Economists recognize that because people have limited resources 3)

• government intervention is necessary.
• they have to make trade-offs.
• they will never be happy.
• our future is bleak.

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Bloom's : Remember

Difficulty : 01 Easy

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

4) An implication of scarcity is that 4)

• people will never be happy.
• making trade-offs becomes unnecessary as wealth increases.
• some people will always be poor.
• people must make trade-offs. 2 / 4

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Bloom's : Remember

Difficulty : 01 Easy

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

5) If all the world's resources were to magically increase one hundredfold, then 5)

• people would still have to make trade-offs.
• economics would no longer be relevant.
• scarcity would disappear.
• trade-offs would become unnecessary.

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

Bloom's : Understand

Difficulty : 02 Medium

6) Forest lives in complete isolation in Montana. He is self-sufficient and feeds himself through hunting, fishing, and farming. Which of the following statements about Forest is true?6)

• Forest has unlimited resources.
• Forest is not required to make trade-offs because he is self-sufficient.
• Forest has to make trade-offs.
• Forest doesn't have to consider costs and benefits. 3 / 4

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Difficulty : 01 Easy

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

Bloom's : Understand

7) Chris has a one-hour break between classes every Wednesday. Chris can either stay at the library and study or go to the gym and work out. The decision Chris must make is 7)

• not an economic problem because neither activity costs money.
• not an economic problem because it's an hour that Chris has no matter what he does.
• an economic problem because the tuition Chris pays covers the cost of both the gym

and the library.

• an economic problem because Chris has only one hour, and engaging in one activity

means giving up the other.

Question Details

AACSB : Reflective Thinking

Accessibility : Keyboard Navigation

Learning Objective : 01-01 Explain why having more of any good thing necessarily requires having les Topic : Economics: Studying Choice in a World of Scarcity

Accessibility : Screen Reader Compatible

Bloom's : Understand

Difficulty : 02 Medium

8) Whether studying the output of the U.S. economy or how many classes a student will take, a unifying concept is that 8)

• / 4