ECONOMICS - TOPIC I - TYPE TEST QUESTIONS

The economics studies . . . means
1. limited
2. abundant
3. unlimited
The economics studies means that have . . .
1. one application
2. alternative applications
3. two applications
The scarcity implies that all the society's objectives can not be met at the same time, so it must to follow a . . . politics
1. achievement
2. priority
3. recovery
The scarcity concept is applicated to everything . . .
1. existing
2. probable
3. useful
Useful means everything that has capacity to satisfy . . .
1. mundane's needs
2. human's needs
3. intrinsic's needs
The . . . are persons or groups who make an economic activity
1. economic agents
2. factors of production
3. economic factors
Economic agent's types:
1. Households, firms and Public sector
2. Domestic economics, centralize planning economy and subsidiary economics
3. Private sector company, public sector company and mixed company
The . . . make the decisions about what to consume and they have the most of the productions factors
1. households
2. firms
3. Public sector
The . . . make the decisions about the production and the distribution
1. Public sector
2. households
3. firms
The . . . makes laws that regulate the way that the other economics agents act when they go to the market
1. households
2. firms
3. Public sector
The . . . redistributes the incomes
1. households
2. firms
3. Public sector
The . . . offers, at a lower price or for free, goods and services that the society things that it must be able to receive all the population
1. households
2. firms
3. Public sector
The . . . is what a agent loses when he makes a decision.
1. consideration cost
2. selection cost
3. opportunity cost
When the individuals group together in societies, they face differents types of dilemmas. The clasical is the dilemma between . . .
1. the cannons and the missiles
2. the cannons and the butter
3. the cannons and the planes
In the modern society, the dilemma between a clean environment and a high . . . level is also important.
1. recycling
2. radiation
3. income
The . . . is the group of productive factors or technologies' combinations that reach the highest production
1. production possibility frontier
2. production capacity frontier
3. production financing frontier
The . . . reflects the highest good and services' amounts that a society can produce in a fixed time period and with ones production's factors and ones given technological knowledge
1. production possibility frontier
2. production capacity frontier
3. production financing frontier
Situations that can be given in a country's productive structure:
1. Inefficient, efficient and unattainable productive structure
2. Attainable and unattainable productive structure
3. Possible and impossible productive structure
To be under the PPF signifies that a country has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
A country that doesn't use all the resources has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
A country with idle resources has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
A country with an inadequate technology has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
A country with a rate of unemployment above . . .%, will always itself find in an inefficient productive structure, because there is unused available labor.
1. 3
2. 4
3. 5
A country located in the production possibility frontier o very near of it has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
A country has an . . . productive structure if there are no idle resources and the best technology is utilized
1. inefficient
2. efficient
3. unattainable
A country located over the Possibilities Production has an . . . productive structure
1. inefficient
2. efficient
3. unattainable
The . . . productive structure is theoretical because no country can produce more than is possible
1. inefficient
2. efficient
3. unattainable
The PPF is . . .
1. convex
2. concave
3. attached
The PPF is . . .
1. increasing
2. decreasing
3. constant
The Production Possibility Frontier is . . . because of in order to produce more of one good it is necessary to produce less of another
1. increasing
2. decreasing
3. constant
The Production Possibility Frontier is concave because of the opportunity cost is . . .
1. increasing
2. decreasing
3. constant
The PPF's displacement can be due to . . .
1. a price rise
2. an economic crisis
3. technological improvements
The . . . is to buy or to sell by using a product or service instead of money as a exchange money, that is, to buy or to sell without use cash money
1. inflation
2. barter
3. globalization
The barter or exchange's beginnings go back to the first . . . communities of human beings
1. sedentary
2. nomadic
3. colonizing
On occasion, many intermediary exchanges were necessary to satisfy needs. That, combined with the growth of settlements and expansion of commercial networks facilitated the appearance of the concept of . . .
1. coins
2. democracy
3. anarchy
The coins were initially . . .
1. gold
2. sacks of salt
3. silver
In . . ., the monetary and exchange systems lived together throughout history
1. Ancient Egypt
2. Ancient Rome
3. Ancient Greece
The . . . used the barter as the basis of their commercial system
1. Phoenicians
2. Romans
3. Greeks
The native people of . . . also exchanged their products in markets
1. Latin America
2. Rome
3. Greece
Gold, silver, other metals or minerals, wheat, bars of tea in China, etc. are . . .
1. value-money
2. metal-money
3. good-money
The first historical signs that we have of money shaped as a coin in the West are those of the . . .
1. Phoenicians
2. Greeks
3. Romans
The money, in the first phase had an . . . value
1. intrinsic
2. relative
3. inexistent
Today, money only has a value as a exchange instrument (the paper from which a note is composed . . . value)
1. does not have
2. have
3. had
By the XVIII and XIX centuries many countries had a . . . standard, based in gold and silver
1. bimetallic
2. fiduciary
3. usufructuary
Between 1870 and the 1st World War the . . .Standard was mainly adopted
1. Gold
2. Metal
3. Fiduciary
With the . . . Standard, any citizen could convert the paper money into an equivalent amount of gold
1. Gold
2. Metal
3. Fiduciary
Between World Wars, countries tried to return to the Gold Standard, but the economic situation and the crisis of . . . ended the ability for an individual to convert notes to gold
1. 1973
2. 1929
3. 1936
By the end of the 2nd World War, in the Bretton Woods' Agreements, it was established that all the currencies would be converted in . . .
1. pounds
2. gold
3. U.S. dollars
In the Bretton Woods' Agreements, it was established that only the . . . would be convertible in gold bars
1. pound
2. French franc
3. U.S. dollar
In the Bretton Woods' Agreements, it was established that only the U.S. dollar would be convertible in gold bars at . . . dollars per ounce for the foreign governments
1. 35
2. 52
3. 63
Due to the . . . War, in December of 1971, the president of the United States, Richard Nixon, suspended on his own the dollar conversion to gold and devalued the dollar by 10%.
1. 1st World
2. 2nd World
3. Vietnam
The capitalism emerged in . . .
1. Europe
2. America
3. Asia
The capitalism emerged by the . . . century
1. XVI
2. XVII
3. XVIII
In the capitalism capital dominates over . . . as a element of production and creator of wealth
1. land
2. training
3. work
In the capitalims, the . . . is fixed in economic action so that capital accumulates
1. income
2. profit
3. payment
In the capitalims, the ownership of the means of production is . . .
1. private
2. public
3. mixed
In the capitalims, the distribution, production and prices of goods and services are usually determinated by some type of . . .
1. governmental intervention
2. State planification
3. free market
In the capitalism, free enterprise . . .
1. exist
2. doesn't exist
3. sometimes exist
The political doctrine that historically has led the defense and implementation of liberalism and neoliberalism has been . . .
1. economic and classic liberalism
2. social democracy
3. Christian democracy
The founding fathers of the . . . are considered to be John Locke, Juan de Mariana, Adam Smith and Benjamin Franklin
1. economic and classic liberalism
2. social democracy
3. Chrystian democracy
. . . thinking, in economics, holds that the government's role must to be reduced as much as possible
1. Liberal classical
2. Social democracy
3. Chrystian democracy
The most prominent contemporary representatives schools of the . . . thinking are the Austrian school of economics and the Chicago school of economics
1. liberal classical
2. social democracy
3. chrystian democracy
The most prominent contemporary representatives scholars are Ludwing von Mises and Friedrich Hayek for the . . . school of economics
1. Austrian
2. French
3. German
The most prominent contemporary representatives scholars are George Stigler and Milton Friedman for the . . . school of economics
1. Chicago
2. Washington
3. London
In the centralize planning economy, the production factors are in the hands of the . . .
1. State
2. Labor union
3. businesspeople
In the centralize planning economy, the market doesn't assign the resources, because it's handled by the State. These manipulations are made with multi-annual economic plans (. . . plans),
1. five-year
2. fifteen-year
3. ten-year
In the centralize planning economy, the market didn't send signals because this didn't exist (. . . market)
1. false
2. perfect
3. free
In the centralize planning economy, the wages and the prices were fixed by the State, the entreprises needn't be competitive and the workers were . . .
1. unmotivated
2. motivated
3. efficient
The . . . needed a huge bureaucracy at the service of the State
1. planning
2. capitalism
3. neoliberalism
The centralize planning economy was inspired by . . . theory
1. Marxist
2. Keynes
3. monetary
The centralize planning economy appeared in . . .
1. Russia's Soviet Federal Socialist Republic
2. China
3. Cuba
The centralize planning economy appeared after the . . .
1. 1st World War
2. 2nd World War
3. Vietnam War
The centralize planning economy got worse with . . . and his followers
1. Stalin
2. Trosky
3. Breznev
At the . . . of the 20th century, the USSR fell down with its economic system
1. end
2. middle
3. beginning
Actually, only . . . follows a centralized economic model, almost without reforms of capitalist type or another type
1. North Korea
2. South Korea
3. China
A . . . economy is a combination of a totally market economy and a centralized economy
1. mixed
2. monopoly
3. oligopoly

ECONOMICS - TOPIC I - TYPE TEST QUESTIONS - By Antonio Ginés