lOMoARcPSD|12040030
Chapter 1 _ The Ten Principles of Economics
Principle of Economics (Trường Đại học Kinh tế Thành phố Hồ Chí Minh)
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The opportunityChapter 1
Ten Principles of Economics
MULTI
PLECHOI
CE
1.
Thewor
dt
ha
tc
ome
sf
r
om t
heGr
e
e
kwor
df
or“
onewhomana
ge
sahous
e
hol
d”i
s
a
.
mar
ke
t
.
b.
c
ons
ume
r
.
c
.
pr
oduc
e
r
.
d.
e
c
onomy
.
ANSWER:
d.
e
c
onomy
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
2.
Thewor
de
c
onomyc
ome
sf
r
om t
heGr
e
e
kwor
df
or
a
.
“
e
nvi
r
onme
nt
.
”
b.
“
onewhomana
ge
sahous
e
hol
d.
”
c
.
“
onewhopar
t
i
c
i
pa
t
e
si
namar
ke
t
.
”
d.
“
c
ons
e
r
va
t
i
on.
”
ANSWER:
b.
“
onewhomana
ge
sahous
e
hol
d.
”
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
3.
Hous
e
hol
dsande
c
onomi
e
sha
vee
ac
hoft
hef
ol
l
owi
ngi
nc
ommonEXCEPTbot
h
a
.
mus
tal
l
oc
a
t
es
c
ar
c
er
e
s
our
c
e
s
.
b.
f
ac
emanyde
c
i
s
i
ons
.
c
.
mus
tal
l
oc
a
t
et
hegoodsands
e
r
vi
c
e
st
he
ypr
oduc
e
.
d.
mus
tha
veac
e
nt
r
alde
c
i
s
i
onmake
r
.
ANSWER:
d.
mus
tha
veac
e
nt
r
alde
c
i
s
i
onmake
r
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
4.
Ec
onomi
c
sde
al
spr
i
mar
i
l
ywi
t
ht
hec
onc
e
ptof
a
.
s
c
ar
c
i
t
y
.
b.
pove
r
t
y
.
c
.
c
hange
.
d.
powe
r
.
ANSWER:
a
.
s
c
ar
c
i
t
y
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
5.
Whi
c
hoft
hef
ol
l
owi
ngi
sNOTi
nc
l
ude
di
nt
hede
c
i
s
i
onst
ha
te
ve
r
ys
oc
i
e
t
ymus
tmake
?
a
.
wha
tgoodswi
l
lbepr
oduc
e
d
b.
whowi
l
lpr
oduc
egoods
c
.
wha
tde
t
e
r
mi
ne
sc
ons
ume
rpr
e
f
e
r
e
nc
e
s
d.
whowi
l
lc
ons
umet
hegoods
ANSWER:
c
.
wha
tde
t
e
r
mi
ne
sc
ons
ume
rpr
e
f
e
r
e
nc
e
s
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
6.
Bot
hhous
e
hol
dsands
oc
i
e
t
i
e
sf
ac
emanyde
c
i
s
i
onsbe
c
aus
e
a
.
r
e
s
our
c
e
sar
es
c
ar
c
e
.
b.
popul
a
t
i
onsma
yi
nc
r
e
as
eorde
c
r
e
as
eove
rt
i
me
.
c
.
wa
ge
sf
orhous
e
hol
dsandt
he
r
e
f
or
es
oc
i
e
t
yfluc
t
ua
t
ewi
t
hbus
i
ne
s
sc
yc
l
e
s
.
d.
pe
opl
e
,byna
t
ur
e
,t
e
ndt
odi
s
a
gr
e
e
.
ANSWER:
a
.
r
e
s
our
c
e
sar
es
c
ar
c
e
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
7.
A goodi
sc
ons
i
de
r
e
ds
c
a
r
c
ei
nas
oc
i
e
t
ywhe
n
a
.
mor
eout
putoft
hegoodi
spos
s
i
bl
e
.
b.
e
ve
r
yonei
nt
ha
ts
oc
i
e
t
yc
annotha
veal
lt
he
ywantoft
hegood.
c
.
t
hegove
r
nme
ntr
e
s
t
r
i
c
t
spr
oduc
t
i
onoft
hegood.
d.
onl
yt
her
i
c
he
s
tpe
opl
ei
nt
hee
c
onomyc
anbuyal
lt
he
ywantoft
hegood.
ANSWER:
b.
e
ve
r
yonei
nt
ha
ts
oc
i
e
t
yc
annotha
veal
lt
he
ywantoft
hegood.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
8.
Sc
ar
c
i
t
ye
xi
s
t
swhe
n
a
.
t
he
r
ei
sl
e
s
st
hanani
nfini
t
eamountofar
e
s
our
c
eorgood.
b.
s
oc
i
e
t
yc
anme
e
tt
hewant
sofe
ve
r
yi
ndi
vi
dual
.
c
.
t
he
r
ei
sl
e
s
sofagoodorr
e
s
our
c
ea
vai
l
abl
et
ha
npe
opl
ewi
s
ht
oha
ve
.
d.
t
hegove
r
nme
ntf
ai
l
st
opr
oduc
egoods
.
ANSWER:
c
.
t
he
r
ei
sl
e
s
sofagoodorr
e
s
our
c
ea
vai
l
abl
et
hanpe
opl
ewi
s
ht
oha
ve
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
1
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lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  2
9.
Whi
c
hoft
hef
ol
l
owi
ngwoul
dNOTbet
r
uei
nawor
l
dwi
t
houts
c
ar
c
i
t
y?
a
.
The
r
ewoul
dbenone
e
df
ort
hes
c
i
e
nc
eofe
c
onomi
c
s
.
b.
Eve
r
yonewoul
dha
veal
lt
hegoodsands
e
r
vi
c
e
st
he
ywant
e
d.
c
.
The
r
ewoul
dha
vet
obeani
nfini
t
es
uppl
yofe
ve
r
yr
e
s
our
c
e
.
d.
The
r
ewoul
dbeoppor
t
uni
t
yc
os
t
s
.
ANSWER:
c
.
The
r
ewoul
dha
vet
obeani
nfini
t
es
uppl
yofe
ve
r
yr
e
s
our
c
e
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
10.
Appr
oxi
ma
t
e
l
ywha
tpe
r
c
e
nt
a
geoft
hewor
l
d’
se
c
onomi
e
se
xpe
r
i
e
nc
es
c
ar
c
i
t
y?
a
.
25%
b.
50%
c
.
75%
d.
100%
ANSWER:
d.
100%
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
11.
Whe
nas
oc
i
e
t
yc
annotpr
oduc
eal
lt
hegoodsands
e
r
vi
c
e
spe
opl
ewi
s
ht
oha
vei
ti
ss
ai
dt
ha
tt
hee
c
onomyi
s
e
xpe
r
i
e
nc
i
ng
a
.
s
c
ar
c
i
t
y
.
b.
c
ommuni
s
m.
c
.
e
xt
e
r
nal
i
t
i
e
s
.
d.
mar
ke
tf
ai
l
ur
e
.
ANSWER:
a
.
s
c
ar
c
i
t
y
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
12.
Fors
oc
i
e
t
y
,agoodi
snots
c
ar
c
ei
f
a
.
a
tl
e
as
tonei
ndi
vi
duali
ns
oc
i
e
t
yc
anobt
ai
nal
lheors
hewant
soft
hegood.
b.
fir
msar
epr
oduc
i
nga
tf
ul
lc
apac
i
t
y
.
c
.
al
lme
mbe
r
sofs
oc
i
e
t
yc
anha
veal
lt
he
ywantofi
t
.
d.
t
hos
ewhoha
vee
noughi
nc
omec
anbuyal
lt
he
ywantoft
hegood.
ANSWER:
c
.
al
lme
mbe
r
sofs
oc
i
e
t
yc
anha
veal
lt
he
ywantofi
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
13.
Whi
c
hpr
oduc
twoul
dbec
ons
i
de
r
e
ds
c
ar
c
e
?
a
.
Ni
kes
hoe
s
b.
Mone
tpai
nt
i
ngs
c
.
1c
ar
a
tdi
amonds
d.
Al
loft
heabovear
ec
or
r
e
c
t
.
ANSWER:
d.
Al
loft
heabovear
ec
or
r
e
c
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
14.
Whi
c
hoft
hef
ol
l
owi
nggoodsbe
s
tme
e
t
st
hede
fini
t
i
onofs
c
a
r
c
i
t
y?
a
.
ai
r
b.
wa
t
e
ri
nt
heoc
e
an
c
.
wa
t
e
ri
nac
i
t
y
d.
woodi
naf
or
e
s
t
ANSWER:
c
.
wa
t
e
ri
nac
i
t
y
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
15.
Ec
onomi
c
si
sde
fine
dast
hes
t
udyof
a
.
bus
i
ne
s
s
.
b.
how s
oc
i
e
t
ymana
ge
si
t
ss
c
ar
c
er
e
s
our
c
e
s
.
c
.
c
e
nt
r
alpl
anni
ng.
d.
gove
r
nme
ntr
e
gul
a
t
i
on.
ANSWER:
b.
how s
oc
i
e
t
ymana
ge
si
t
ss
c
ar
c
er
e
s
our
c
e
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
16.
Ec
onomi
c
si
st
hes
t
udyof
a
.
how s
oc
i
e
t
ymana
ge
si
t
ss
c
ar
c
er
e
s
our
c
e
s
.
b.
t
hegove
r
nme
nt
’
sr
ol
ei
ns
oc
i
e
t
y
.
c
.
how amar
ke
ts
ys
t
e
mf
unc
t
i
ons
.
d.
how t
oi
nc
r
e
as
epr
oduc
t
i
on.
ANSWER:
a
.
how s
oc
i
e
t
ymana
ge
si
t
ss
c
ar
c
er
e
s
our
c
e
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
17.
I
nmos
ts
oc
i
e
t
i
e
s
,r
e
s
our
c
e
sar
eal
l
oc
a
t
e
dby
a
.
as
i
ngl
ec
e
nt
r
alpl
anne
r
.
b.
t
hos
ewhoownt
her
e
s
our
c
e
s
.
c
.
t
hos
efir
mst
ha
tus
er
e
s
our
c
e
st
opr
ovi
degoodsands
e
r
vi
c
e
s
.
d.
t
hec
ombi
ne
dac
t
i
onsofmi
l
l
i
onsofhous
e
hol
dsandfir
ms
.
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Chapter 1/Ten Principles of Economics  3
ANSWER:
d.
t
hec
ombi
ne
dac
t
i
onsofmi
l
l
i
onsofhous
e
hol
dsandfir
ms
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
18.
Ec
onomi
s
t
ss
t
udyal
loft
hef
ol
l
owi
ngEXCEPT
a
.
how pe
opl
emakede
c
i
s
i
ons
.
b.
how pe
opl
ei
nt
e
r
ac
twi
t
honeanot
he
r
.
c
.
t
hef
or
c
e
sandt
r
e
ndst
ha
taffe
c
tt
hee
c
onomyasawhol
e
.
d.
how s
oc
i
e
t
i
e
sc
ha
ngeove
rt
i
me
.
ANSWER:
d.
how s
oc
i
e
t
i
e
sc
ha
ngeove
rt
i
me
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
19.
Whi
c
hoft
hef
ol
l
owi
ngi
sNOTama
j
orar
e
aofs
t
udyf
ore
c
onomi
s
t
s
?
a
.
how pe
opl
emakede
c
i
s
i
ons
b.
how c
ount
r
i
e
sc
hoos
ena
t
i
onall
e
ade
r
s
c
.
how pe
opl
ei
nt
e
r
ac
twi
t
he
ac
hot
he
r
d.
how f
or
c
e
sandt
r
e
ndsaffe
c
tt
heove
r
al
le
c
onomy
ANSWER:
b.
how c
ount
r
i
e
sc
hoos
ena
t
i
onall
e
ade
r
s
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
20.
Theada
ge
,“
The
r
ei
snos
uc
ht
hi
ngasaf
r
e
el
unc
h,
”i
sus
e
dt
oi
l
l
us
t
r
a
t
et
hec
onc
e
ptof
a
.
t
r
ade
offs
.
b.
s
c
ar
c
i
t
y
.
c
.
pr
oduc
t
i
vi
t
y
.
d.
e
ffic
i
e
nc
y
.
ANSWER:
a
.
t
r
ade
offs
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
21.
Theada
ge
,“
The
r
ei
snos
uc
ht
hi
ngasaf
r
e
el
unc
h,
”me
ans
a
.
e
ve
npe
opl
eonwe
l
f
ar
eha
vet
opa
yf
orf
ood.
b.
t
hec
os
tofl
i
vi
ngi
sal
wa
ysi
nc
r
e
as
i
ng.
c
.
t
oge
ts
ome
t
hi
ngwel
i
ke
,weus
ual
l
yha
vet
ogi
veupanot
he
rt
hi
ngwel
i
ke
.
d.
al
lc
os
t
sar
ei
nc
l
ude
di
nt
hepr
i
c
eofapr
oduc
t
.
ANSWER:
c
.
t
oge
ts
ome
t
hi
ngwel
i
ke
,weus
ual
l
yha
vet
ogi
veupanot
he
rt
hi
ngwel
i
ke
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
22.
Ec
onomi
s
t
sus
et
hephr
as
e“
The
r
ei
snos
uc
ht
hi
ngasaf
r
e
el
unc
h,
”t
oi
l
l
us
t
r
a
t
e
a
.
how i
nfla
t
i
oni
nc
r
e
as
e
spr
i
c
e
s
.
b.
t
ha
tt
oge
tonet
hi
ng,wemus
tgi
veups
ome
t
hi
nge
l
s
e
.
c
.
t
ha
tnot
hi
ngi
sf
r
e
ei
namar
ke
te
c
onomy
.
d.
t
ha
ti
fs
ome
t
hi
ngl
ookst
oogoodt
obet
r
ue
,
i
tpr
obabl
yi
s
.
ANSWER:
b.
t
ha
tt
oge
tonet
hi
ng,wemus
tgi
veups
ome
t
hi
nge
l
s
e
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
23.
Whi
c
hbe
s
tr
e
pr
e
s
e
nt
st
hec
onc
e
ptr
e
pr
e
s
e
nt
e
dbyt
heada
ge
,
“
The
r
ei
snos
uc
ht
hi
ngasaf
r
e
el
unc
h”?
a
.
Me
l
i
s
s
ac
anonl
ya
t
t
e
ndt
hec
onc
e
r
ti
fs
het
ake
she
rs
i
s
t
e
rwi
t
hhe
r
.
b.
Gr
e
gi
shungr
yandhome
l
e
s
s
.
c
.
Br
i
anmus
tr
e
pai
rt
het
i
r
eonhi
sbi
kebe
f
or
ehec
anr
i
dei
tt
oc
l
as
s
.
d.
Ke
ndr
amus
tde
c
i
debe
t
we
e
ngoi
ngt
oCol
or
adoorCanc
unf
ors
pr
i
ngbr
e
ak.
ANSWER:
d.
Ke
ndr
amus
tde
c
i
debe
t
we
e
ngoi
ngt
oCol
or
a
doorCanc
unf
ors
pr
i
ngbr
e
ak.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
24.
Gunsandbut
t
e
rar
eus
e
dt
or
e
pr
e
s
e
ntt
hec
l
as
s
i
cs
oc
i
e
t
alt
r
ade
offbe
t
we
e
ns
pe
ndi
ngon
a
.
dur
abl
eandnondur
abl
egoods
.
b.
i
mpor
t
sande
xpor
t
s
.
c
.
na
t
i
onalde
f
e
ns
eandc
ons
ume
rgoods
.
d.
l
a
we
nf
or
c
e
me
ntanda
gr
i
c
ul
t
ur
e
.
ANSWER:
c
.
na
t
i
onalde
f
e
ns
eandc
ons
ume
rgoods
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
25.
He
nr
yde
c
i
de
st
os
pe
ndt
wohour
spl
a
yi
nggol
fr
a
t
he
rt
hanwor
ki
nga
thi
sj
obwhi
c
hpa
ys$8pe
rhour
.
He
nr
y’
s
t
r
ade
offi
s
a
.
t
he$16hec
oul
dha
vee
ar
ne
dwor
ki
ngf
ort
wohour
s
.
b.
not
hi
ng,be
c
aus
ehee
nj
oyspl
a
yi
nggol
fmor
et
hanwor
ki
ng.
c
.
t
hei
nc
r
e
as
ei
ns
ki
l
lheobt
ai
nsf
r
om pl
a
yi
nggol
ff
ort
hos
et
wohour
s
.
d.
not
hi
ng,be
c
aus
ehes
pe
nt$16f
orgr
e
e
nf
e
e
st
opl
a
ygol
f
.
ANSWER:
a
.
t
he$16hec
oul
dha
vee
ar
ne
dwor
ki
ngf
ort
wohour
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
26.
Whe
ns
oc
i
e
t
yr
e
qui
r
e
st
ha
tfir
msr
e
duc
epol
l
ut
i
on,t
he
r
ei
s
a
.
at
r
ade
offbe
c
aus
eofr
e
duc
e
di
nc
ome
st
ot
hefir
ms
’owne
r
s
,wor
ke
r
s
,
andc
us
t
ome
r
s
.
b.
not
r
ade
off,s
i
nc
ee
ve
r
yonebe
ne
fit
sf
r
om r
e
duc
e
dpol
l
ut
i
on.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  4
c
.
not
r
ade
offf
ors
oc
i
e
t
yasawhol
e
,s
i
nc
et
hec
os
tofr
e
duc
i
ngpol
l
ut
i
onf
al
l
sonl
yont
hefir
msaffe
c
t
e
dby
t
her
e
qui
r
e
me
nt
s
.
d.
at
r
ade
offonl
yi
fs
omefir
msar
ef
or
c
e
dt
oc
l
os
e
.
ANSWER:
a
.
at
r
ade
offbe
c
aus
eofr
e
duc
e
di
nc
ome
st
ot
hefir
ms
’owne
r
s
,wor
ke
r
s
,
andc
us
t
ome
r
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
27.
Dani
e
lde
c
i
de
st
os
pe
ndt
hel
as
tt
wohour
soft
heni
ghtbe
f
or
ehi
se
c
onomi
c
se
xam s
t
udyi
ngi
ns
t
e
adofs
l
e
e
pi
ng.
ForDani
e
l
,hi
st
r
ade
offwoul
dbe
a
.
not
hi
ng,s
i
nc
enodol
l
arval
uec
anbeputons
l
e
e
p.
b.
not
hi
ng,s
i
nc
es
t
udyi
ngwoul
dbemor
ebe
ne
fic
i
alt
hans
l
e
e
p.
c
.
t
hes
i
xhour
sofs
l
e
e
phec
oul
dha
vehadi
fhehadgonet
obe
dbe
f
or
emi
dni
ght
.
d.
t
het
wohour
sofr
e
s
thewoul
dha
vegot
t
e
n.
ANSWER:
d.
t
het
wohour
sofr
e
s
thewoul
dha
vegot
t
e
n.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
28.
At
r
ade
offe
xi
s
t
sbe
t
we
e
nac
l
e
ane
nvi
r
onme
ntandahi
ghe
rl
e
ve
lofi
nc
omei
nt
ha
t
a
.
s
t
udi
e
ss
how t
ha
ti
ndi
vi
dual
swi
t
hhi
ghe
rl
e
ve
l
sofi
nc
omeac
t
ual
l
ypol
l
ut
el
e
s
st
hanl
owi
nc
ome
i
ndi
vi
dual
s
.
b.
t
opa
yf
orpol
l
ut
i
onc
l
e
anup,t
hegove
r
nme
ntmus
ti
nc
r
e
as
et
ax
e
swhi
c
hl
owe
r
si
nc
ome
.
c
.
l
a
wst
ha
tr
e
duc
epol
l
ut
i
onr
ai
s
ec
os
t
sofpr
oduc
t
i
onandr
e
duc
ei
nc
ome
s
.
d.
bye
mpl
oyi
ngi
ndi
vi
dual
st
oc
l
e
anuppol
l
ut
i
on,e
mpl
oyme
ntandi
nc
omebot
hr
i
s
e
.
ANSWER:
c
.
l
a
wst
ha
tr
e
duc
epol
l
ut
i
onr
ai
s
ec
os
t
sofpr
oduc
t
i
onandr
e
duc
ei
nc
ome
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
29.
Whi
c
hoft
hef
ol
l
owi
ngwoul
dNOTbear
e
s
ul
tofl
a
wst
ha
tr
e
qui
r
efir
mst
or
e
duc
epol
l
ut
i
on?
a
.
l
owe
rs
pe
ndi
ngbygove
r
nme
nt
b.
hi
ghe
rpr
i
c
e
st
oc
ons
ume
r
s
c
.
l
owe
rwa
ge
st
owor
ke
r
s
d.
s
mal
l
e
rpr
ofitt
ofir
ms
ANSWER:
a
.
l
owe
rs
pe
ndi
ngbygove
r
nme
nt
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
30.
Pol
l
ut
i
onr
e
gul
a
t
i
onswi
l
l
a
.
i
nc
r
e
as
epr
ofitt
ofir
ms
.
b.
i
mpos
eat
r
ade
offons
oc
i
e
t
y
.
c
.
al
l
ow fir
mst
or
ai
s
ewor
ke
r
s
’wa
ge
s
.
d.
l
owe
rpr
i
c
e
sf
orc
ons
ume
r
s
.
ANSWER:
b.
i
mpos
eat
r
ade
offons
oc
i
e
t
y
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
31.
Whi
c
hoft
hef
ol
l
owi
ngbe
s
tde
fine
se
ffic
i
e
nc
y?
a
.
abs
ol
ut
ef
ai
r
ne
s
s
b.
e
qualdi
s
t
r
i
but
i
on
c
.
mi
ni
mum was
t
e
d.
c
ons
ume
rs
ove
r
e
i
gnt
y
ANSWER:
c
.
mi
ni
mum was
t
e
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
32.
Whi
c
hoft
hef
ol
l
owi
ngi
st
r
ue
?
a
.
Effic
i
e
nc
yr
e
f
e
r
st
ot
hes
i
zeoft
hee
c
onomi
cpi
e
;
e
qui
t
yr
e
f
e
r
st
ohow t
hepi
ei
sdi
vi
de
d.
b.
For
t
una
t
e
l
y
,gove
r
nme
ntpol
i
c
i
e
sar
ede
s
i
gne
dt
opr
omot
ebot
he
qui
t
yande
ffic
i
e
nc
y
.
c
.
Asl
ongast
hee
c
onomi
cpi
ec
ont
i
nual
l
yge
t
sl
ar
ge
r
,noonewi
l
lha
vet
ogohungr
y
.
d.
Effic
i
e
nc
yande
qui
t
yc
anbot
hbeac
hi
e
ve
di
ft
hee
c
onomi
cpi
ei
sc
uti
nt
oe
qualpi
e
c
e
s
.
ANSWER:
a
.
Effic
i
e
nc
yr
e
f
e
r
st
ot
hes
i
zeoft
hee
c
onomi
cpi
e
;
e
qui
t
yr
e
f
e
r
st
ohow t
hepi
ei
sdi
vi
de
d.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
33.
Effic
i
e
nc
yme
anst
ha
t
a
.
s
oc
i
e
t
yi
sc
ons
e
r
vi
ngr
e
s
our
c
e
si
nor
de
rt
os
a
vet
he
mf
ort
hef
ut
ur
e
.
b.
s
oc
i
e
t
y’
sgoodsands
e
r
vi
c
e
sar
edi
s
t
r
i
but
e
df
ai
r
l
yamongs
oc
i
e
t
y’
sme
mbe
r
s
.
c
.
s
oc
i
e
t
yhasl
e
s
s
e
ne
di
t
sde
pe
nde
nc
eonf
or
e
i
gne
ne
r
gys
our
c
e
s
.
d.
s
oc
i
e
t
yi
sge
t
t
i
ngt
hemos
ti
tc
anf
r
om i
t
ss
c
ar
c
er
e
s
our
c
e
s
.
ANSWER:
d.
s
oc
i
e
t
yi
sge
t
t
i
ngt
hemos
ti
tc
anf
r
om i
t
ss
c
ar
c
er
e
s
our
c
e
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
34.
Ec
onomi
s
t
sus
et
hewor
de
qui
t
yt
ode
s
c
r
i
beas
i
t
ua
t
i
oni
nwhi
c
h
a
.
e
ac
hme
mbe
rofs
oc
i
e
t
yhast
hes
amei
nc
ome
.
b.
s
oc
i
e
t
yi
sge
t
t
i
ngt
hemos
ti
tc
anf
r
om i
t
ss
c
ar
c
er
e
s
our
c
e
s
.
c
.
t
hos
ei
ns
oc
i
e
t
ywhoha
vet
hel
e
as
twi
l
lr
e
c
e
i
vet
hemos
t
.
d.
t
hebe
ne
fit
sofs
oc
i
e
t
y’
sr
e
s
our
c
e
sar
edi
s
t
r
i
but
e
df
ai
r
l
yamongs
oc
i
e
t
y’
sme
mbe
r
s
.
ANSWER:
d.
t
hebe
ne
fit
sofs
oc
i
e
t
y’
sr
e
s
our
c
e
sar
edi
s
t
r
i
but
e
df
ai
r
l
yamongs
oc
i
e
t
y’
sme
mbe
r
s
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  5
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
35.
Onede
fini
t
i
onofe
qui
t
ywoul
dbe
a
.
e
qual
i
t
y
.
b.
e
ffic
i
e
nc
y
.
c
.
f
ai
r
ne
s
s
.
d.
s
i
mi
l
ar
i
t
y
.
ANSWER:
c
.
f
ai
r
ne
s
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
36.
Whe
ngove
r
nme
ntpol
i
c
i
e
sar
ebe
i
ngde
s
i
gne
d,
a
.
t
he
r
ei
sus
ual
l
yat
r
ade
offbe
t
we
e
ne
qui
t
yande
ffic
i
e
nc
y
.
b.
e
qui
t
yande
ffic
i
e
nc
ygoal
sar
eus
ual
l
yi
nde
pe
nde
ntofe
ac
hot
he
r
.
c
.
e
qui
t
yc
anus
ual
l
ybea
c
hi
e
ve
dwi
t
houtane
ffic
i
e
nc
yl
os
s
.
d.
i
nc
r
e
as
i
nge
ffic
i
e
nc
yus
ual
l
yr
e
s
ul
t
si
nmor
ee
qui
t
y
.
ANSWER:
a
.
t
he
r
ei
sus
ual
l
yat
r
ade
offbe
t
we
e
ne
qui
t
yande
ffic
i
e
nc
y
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
37.
Whe
ngove
r
nme
ntpol
i
c
i
e
ss
uc
hast
hewe
l
f
ar
es
ys
t
e
mt
r
yt
ohe
l
pt
hemos
tne
e
dyme
mbe
r
sofs
oc
i
e
t
y
,i
t
a
.
i
nc
r
e
as
e
se
qui
t
yandr
e
duc
e
se
ffic
i
e
nc
y
.
b.
r
e
duc
e
sc
har
i
t
abl
ec
ont
r
i
but
i
onsi
nane
c
onomy
.
c
.
i
nc
r
e
as
e
st
hepr
oduc
t
i
vi
t
yoft
hene
e
dyi
nt
hes
oc
i
e
t
y
.
d.
c
aus
e
smar
ke
tf
ai
l
ur
et
ooc
c
ur
.
ANSWER:
a
.
i
nc
r
e
as
e
se
qui
t
yandr
e
duc
e
se
ffic
i
e
nc
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
38.
Whe
nt
hegove
r
nme
nti
mpl
e
me
nt
spr
ogr
amss
uc
haspr
ogr
e
s
s
i
vei
nc
omet
axr
a
t
e
s
,whi
c
hoft
hef
ol
l
owi
ngi
sl
i
ke
l
y
t
ooc
c
ur
?
a
.
Equi
t
yi
si
nc
r
e
as
e
dande
ffic
i
e
nc
yi
si
nc
r
e
as
e
d.
b.
Equi
t
yi
si
nc
r
e
as
e
dande
ffic
i
e
nc
yi
sde
c
r
e
as
e
d.
c
.
Equi
t
yi
sde
c
r
e
as
e
dande
ffic
i
e
nc
yi
si
nc
r
e
as
e
d.
d.
Equi
t
yi
sde
c
r
e
as
e
dande
ffic
i
e
nc
yi
sde
c
r
e
as
e
d.
ANSWER:
b.
Equi
t
yi
si
nc
r
e
as
e
dande
ffic
i
e
nc
yi
sde
c
r
e
a
s
e
d.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
39.
Whe
nt
hegove
r
nme
nta
t
t
e
mpt
st
oc
utt
hee
c
onomi
cpi
ei
nt
omor
ee
quals
l
i
c
e
s
,
a
.
i
ti
se
as
i
e
rt
oc
utt
hepi
e
,
andt
he
r
e
f
or
et
hee
c
onomyc
anpr
oduc
eal
ar
ge
rpi
e
.
b.
t
hegove
r
nme
ntc
anmor
ee
as
i
l
yal
l
oc
a
t
et
hepi
et
ot
hos
emos
ti
nne
e
d.
c
.
t
hepi
ege
t
ss
mal
l
e
r
,andt
he
r
ewi
l
lbel
e
s
spi
ef
ore
ve
r
yone
.
d.
t
hee
c
onomywi
l
ls
pe
ndt
oomuc
ht
i
mec
ut
t
i
ngandl
os
e
st
heabi
l
i
t
yt
opr
oduc
ee
noughpi
ef
ore
ve
r
yone
.
ANSWER:
c
.
t
hepi
ege
t
ss
mal
l
e
r
,andt
he
r
ewi
l
lbel
e
s
spi
ef
ore
ve
r
yone
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
40.
Whe
nt
hegove
r
nme
nta
t
t
e
mpt
st
oi
mpr
ovee
qui
t
yi
nane
c
onomyt
her
e
s
ul
ti
sof
t
e
n
a
.
ani
nc
r
e
as
ei
nove
r
al
lout
puti
nt
hee
c
onomy
.
b.
addi
t
i
onalgove
r
nme
ntr
e
ve
nues
i
nc
eove
r
al
li
nc
omewi
l
li
nc
r
e
as
e
.
c
.
anac
t
ualr
e
duc
t
i
oni
ne
qui
t
y
.
d.
r
e
duc
e
de
ffic
i
e
nc
yi
nt
hee
c
onomy
.
ANSWER:
d.
r
e
duc
e
de
ffic
i
e
nc
yi
nt
hee
c
onomy
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
41.
Whe
nt
hegove
r
nme
ntr
e
di
s
t
r
i
but
e
si
nc
omef
r
om t
her
i
c
ht
ot
hepoor
,
a
.
e
ffic
i
e
nc
yi
si
mpr
ove
d,bute
qui
t
yi
snot
.
b.
bot
hr
i
c
hpe
opl
eandpoorpe
opl
ebe
ne
fitdi
r
e
c
t
l
y
.
c
.
pe
opl
ewor
kl
e
s
sandpr
oduc
ef
e
we
rgoodsands
e
r
vi
c
e
s
.
d.
r
i
c
hpe
opl
ec
ons
umef
e
we
rgoods,
butpoorpe
opl
ec
ons
umemor
egoods
,r
e
s
ul
t
i
ngi
nnor
e
alc
hange
.
ANSWER:
c
.
pe
opl
ewor
kl
e
s
sandpr
oduc
ef
e
we
rgoodsa
nds
e
r
vi
c
e
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
42.
I
ne
c
onomi
c
s
,t
hec
os
tofs
ome
t
hi
ngi
s
a
.
t
hedol
l
aramountofobt
ai
ni
ngi
t
.
b.
al
wa
ysme
as
ur
e
di
nuni
t
soft
i
megi
ve
nupt
oge
ti
t
.
c
.
wha
tyougi
veupt
oge
ti
t
.
d.
us
ual
l
yhi
ghe
rt
hanpe
opl
et
hi
nki
twi
l
lbe
.
ANSWER:
c
.
wha
tyougi
veupt
oge
ti
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
43.
Wha
tyougi
veupt
oobt
ai
nani
t
e
mi
sc
al
l
e
dyour
a
.
oppor
t
uni
t
yc
os
t
.
b.
e
xpl
i
c
i
tc
os
t
.
c
.
t
r
uec
os
t
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
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Chapter 1/Ten Principles of Economics  6
d.
di
r
e
c
tc
os
t
.
ANSWER:
a
.
oppor
t
uni
t
yc
os
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
44.
Theoppor
t
uni
t
yc
os
tofgoi
ngt
oc
ol
l
e
gei
s
a
.
t
het
ot
als
pe
ntonf
ood,c
l
ot
hi
ng,books
,t
r
ans
por
t
a
t
i
on,t
ui
t
i
on,l
odgi
ng,andot
he
re
xpe
ns
e
s
.
b.
t
heval
ueoft
hebe
s
toppor
t
uni
t
yas
t
ude
ntgi
ve
supt
oa
t
t
e
ndc
ol
l
e
ge
.
c
.
ze
r
of
ors
t
ude
nt
swhoar
ef
or
t
una
t
ee
nought
oha
veal
loft
he
i
rc
ol
l
e
gee
xpe
ns
e
spai
dbys
ome
onee
l
s
e
.
d.
ze
r
o,
s
i
nc
eac
ol
l
e
gee
duc
a
t
i
onwi
l
lal
l
ow as
t
ude
ntt
oe
ar
nal
ar
ge
ri
nc
omeaf
t
e
rgr
adua
t
i
on.
ANSWER:
b.
t
heval
ueoft
hebe
s
toppor
t
uni
t
yas
t
ude
ntgi
ve
supt
oa
t
t
e
ndc
ol
l
e
ge
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
45.
Formos
ts
t
ude
nt
s
,
t
hel
ar
ge
s
ts
i
ngl
ec
os
tofac
ol
l
e
gee
duc
a
t
i
oni
s
a
.
t
hewa
ge
sgi
ve
nupt
oa
t
t
e
nds
c
hool
.
b.
t
ui
t
i
on,f
e
e
s
,andbooks
.
c
.
r
oom andboar
d.
d.
t
r
ans
por
t
a
t
i
on,pa
r
ki
ng,
ande
nt
e
r
t
ai
nme
nt
.
ANSWER:
a
.
t
hewa
ge
sgi
ve
nupt
oa
t
t
e
nds
c
hool
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
46.
Thel
ar
ge
s
ts
i
ngl
ec
os
tofgoi
ngt
oc
ol
l
e
gei
sus
ual
l
y
a
.
books
.
b.
r
oom andboar
d.
c
.
t
ui
t
i
on.
d.
l
os
twa
ge
s
.
ANSWER:
d.
l
os
twa
ge
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
47.
Theoppor
t
uni
t
yc
os
tofani
t
e
mi
s
a
.
t
henumbe
rofhour
sne
e
de
dt
oe
ar
nmone
yt
obuyi
t
.
b.
wha
tyougi
veupt
oge
tt
ha
ti
t
e
m.
c
.
us
ual
l
yl
e
s
st
hant
hedol
l
arval
ueoft
hei
t
e
m.
d.
t
hedol
l
arval
ueoft
hei
t
e
m.
ANSWER:
b.
wha
tyougi
veupt
oge
tt
ha
ti
t
e
m.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
48.
Mal
l
or
yde
c
i
de
st
os
pe
nd3hour
swor
ki
ngove
r
t
i
mer
a
t
he
rt
hanwa
t
c
hi
ngavi
de
owi
t
hhe
rf
r
i
e
nds
.Shee
ar
ns$8
anhour
.He
roppor
t
uni
t
yc
os
tofwor
ki
ngi
s
a
.
t
he$24s
hee
ar
nswor
ki
ng.
b.
t
he$24mi
nust
hee
nj
oyme
nts
hewoul
dha
ver
e
c
e
i
ve
df
r
om wa
t
c
hi
ngt
hevi
de
o.
c
.
t
hee
nj
oyme
nts
hewoul
dha
ver
e
c
e
i
ve
dhads
hewa
t
c
he
dt
hevi
de
o.
d.
not
hi
ng,s
i
nc
es
hewoul
dha
ver
e
c
e
i
ve
dl
e
s
st
han$24ofe
nj
oyme
ntf
r
om t
hevi
de
o.
ANSWER:
c
.
t
hee
nj
oyme
nts
hewoul
dha
ver
e
c
e
i
ve
dhads
hewa
t
c
he
dt
hevi
de
o.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
49.
Rus
s
e
l
ls
pe
ndsanhours
t
udyi
ngi
ns
t
e
adofpl
a
yi
ngt
e
nni
s
.Theoppor
t
uni
t
yc
os
tt
ohi
m ofs
t
udyi
ngi
s
a
.
t
hei
mpr
ove
me
nti
nhi
sgr
ade
sf
r
om s
t
udyi
ngf
ort
hehour
.
b.
t
hedi
ffe
r
e
nc
ebe
t
we
e
nt
hei
mpr
ove
me
nti
nhi
sgr
ade
sf
r
om s
t
udyi
ngmi
nust
hee
nj
oyme
ntofpl
a
yi
ng
t
e
nni
s
.
c
.
t
hee
nj
oyme
ntande
x
e
r
c
i
s
ehewoul
dha
ver
e
c
e
i
ve
dhadhepl
a
ye
dt
e
nni
s
.
d.
ze
r
o.Si
nc
eRus
s
e
l
lc
hos
et
os
t
udyr
a
t
he
rt
hant
opl
a
yt
e
nni
s
,
t
heval
ueofs
t
udyi
ngmus
tha
vebe
e
ngr
e
a
t
e
r
t
hant
heval
ueofpl
a
yi
ngt
e
nni
s
.
ANSWER:
c
.
t
hee
nj
oyme
ntande
x
e
r
c
i
s
ehewoul
dha
ver
e
c
e
i
ve
dhadhepl
a
ye
dt
e
nni
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
50.
Col
l
e
ge
a
gea
t
hl
e
t
e
swhodr
opoutofc
ol
l
e
get
opl
a
ypr
of
e
s
s
i
onals
por
t
s
a
.
ar
enotr
a
t
i
onalde
c
i
s
i
onmake
r
s
.
b.
ar
ewe
l
la
war
et
ha
tt
he
i
roppor
t
uni
t
yc
os
tofa
t
t
e
ndi
ngc
ol
l
e
gei
sve
r
yhi
gh.
c
.
ar
ec
onc
e
r
ne
dmor
eaboutpr
e
s
e
ntc
i
r
c
ums
t
anc
e
st
hant
he
i
rf
ut
ur
e
.
d.
unde
r
e
s
t
i
ma
t
et
heval
ueofac
ol
l
e
gee
duc
a
t
i
on.
ANSWER:
b.
ar
ewe
l
la
war
et
ha
tt
he
i
roppor
t
uni
t
yc
os
tofa
t
t
e
ndi
ngc
ol
l
e
gei
sve
r
yhi
gh.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
51.
Pe
opl
emakede
c
i
s
i
onsa
tt
hemar
gi
nby
a
.
f
ol
l
owi
ngt
r
adi
t
i
on.
b.
e
xpe
r
i
e
nc
e
.
c
.
c
al
c
ul
a
t
i
ngdol
l
arc
os
t
s
.
d.
c
ompar
i
ngc
os
t
sandbe
ne
fit
s
.
ANSWER:
d.
c
ompar
i
ngc
os
t
sandbe
ne
fit
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  7
52.
Thewor
d“mar
gi
n”me
ans
a
.
e
dge
.
b.
di
s
t
anc
e
.
c
.
s
pac
e
.
d.
me
as
ur
e
.
ANSWER:
a
.
e
dge
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
53.
Maki
ngde
c
i
s
i
ons“
a
tt
hemar
gi
n”me
anst
ha
tpe
opl
e
a
.
maket
hos
ede
c
i
s
i
onst
ha
tdonoti
mpos
eamar
gi
nalc
os
t
.
b.
e
val
ua
t
ehow e
as
i
l
yade
c
i
s
i
onc
anber
e
ve
r
s
e
di
fpr
obl
e
msar
i
s
e
.
c
.
c
ompar
et
hemar
gi
nalc
os
t
sandmar
gi
nalbe
ne
fit
sofe
ac
hde
c
i
s
i
on.
d.
al
wa
ysc
al
c
ul
a
t
et
hemar
gi
naldol
l
arc
os
t
sf
ore
a
c
hde
c
i
s
i
on.
ANSWER:
c
.
c
ompar
et
hemar
gi
nalc
os
t
sandmar
gi
nalbe
ne
fit
sofe
ac
hde
c
i
s
i
on.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
54.
A mar
gi
nalc
hangei
sa
a
.
l
ongt
e
r
mt
r
e
nd.
b.
l
ar
ge
,s
i
gni
fic
antadj
us
t
me
nt
.
c
.
c
hangef
ort
hewor
s
e
,ands
oi
sus
ual
l
ys
hor
t
t
e
r
m.
d.
s
mal
li
nc
r
e
me
nt
aladj
us
t
me
nt
.
ANSWER:
d.
s
mal
li
nc
r
e
me
nt
aladj
us
t
me
nt
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
55.
Whi
c
hoft
hef
ol
l
owi
ngi
st
hebe
s
te
xampl
eofamar
gi
nalc
hange
?
a
.
Af
t
e
rgr
adua
t
i
ngc
ol
l
e
ge
,
Audr
e
y’
si
nc
omei
nc
r
e
as
e
sf
r
om $500pe
rmont
ht
o$3,
000pe
rmont
h.
b.
Mor
gange
t
sar
ai
s
ea
the
rpar
t
t
i
mej
obandi
snow pai
d$7
.
25pe
rhouri
ns
t
e
adof$7.
00
.
c
.
Hous
i
ngpr
i
c
e
si
nanar
e
ai
nc
r
e
as
eby40
% whe
nane
wi
nt
e
r
s
t
a
t
ei
sbui
l
ti
nas
mal
lt
own.
d.
A har
df
r
e
e
zewi
pe
southal
foft
heor
angec
r
opi
nFl
or
i
daandt
hepr
i
c
eofor
angej
ui
c
edoubl
e
s
.
ANSWER:
b.
Mor
gange
t
sar
ai
s
ea
the
rpar
t
t
i
mej
obandi
snow pai
d$7
.
25pe
rhouri
ns
t
e
adof$7.
00
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
56.
Whi
c
hoft
hef
ol
l
owi
ngi
st
hebe
s
te
xampl
eofamar
gi
nalc
hange
?
a
.
Thepr
i
c
eofhous
i
ngr
os
ei
nSe
a
t
t
l
eby5% i
nl
as
tye
ar
.
b.
Ki
m ge
t
sabi
gpr
omot
i
ona
twor
k.Sheal
s
oge
t
sar
ai
s
ef
r
om $25,
000pe
rye
art
o$40,
000pe
rye
ar
.
c
.
Mar
kgr
adua
t
e
sf
r
om c
ol
l
e
geandt
ake
saj
ob.Hi
si
nc
omei
nc
r
e
as
e
sf
r
om $10
,
000pe
rye
art
o$50
,
000pe
r
ye
ar
.
d.
A dr
oughthi
t
st
heuppe
rMi
dwe
s
tandt
hepr
i
c
eofwhe
a
ti
nc
r
e
as
e
sf
r
om $4.
00pe
rbus
he
lt
o$8
.
00pe
r
bus
he
l
.
ANSWER:
a
.
Thepr
i
c
eofhous
i
ngr
os
ei
nSe
a
t
t
l
eby5% i
nl
as
tye
ar
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
57.
A mar
gi
nalc
hangei
si
l
l
us
t
r
a
t
e
dbywhi
c
hoft
hef
ol
l
owi
ng?
a
.
Nanc
yr
e
t
i
r
e
sandt
ake
sapar
t
t
i
mej
ob.Shewaswor
ki
ng40hour
spe
rwe
e
kandnow wor
ks10hour
spe
r
we
e
k.
b.
St
a
t
eUni
ve
r
s
i
t
yhasannounc
e
dt
ha
tduet
os
t
a
t
ebudge
tde
fic
i
t
s
,
t
ui
t
i
onmus
tr
i
s
eby25% ne
xtye
ar
.
c
.
Ryanmove
dt
oane
w apar
t
me
ntandnow pa
ys40% mor
er
e
ntt
hanbe
f
or
e
.
d.
Ar
i
z
ona
,whi
c
hus
ual
l
yr
e
c
e
i
ve
s10i
nc
he
sofr
ai
npe
rye
ar
,r
e
c
e
i
ve
d11i
nc
he
sl
as
tye
ar
.
ANSWER:
d.
Ar
i
z
ona
,whi
c
hus
ual
l
yr
e
c
e
i
ve
s10i
nc
he
sofr
ai
npe
rye
ar
,r
e
c
e
i
ve
d11i
nc
he
sl
as
tye
ar
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
58.
Af
t
e
rmuc
hc
ons
i
de
r
a
t
i
on,youha
vec
hos
e
nCanc
unove
rFt
.
Laude
r
dal
ef
oryourSpr
i
ngBr
e
akt
r
i
pt
hi
sye
ar
.For
t
hi
sde
c
i
s
i
ont
oc
hange
,
whi
c
hoft
hef
ol
l
owi
ngmus
toc
c
ur
?
a
.
Themar
gi
nalbe
ne
fitofCanc
unmus
ti
nc
r
e
as
e
.
b.
Themar
gi
nalc
os
tofCanc
unmus
tde
c
r
e
as
e
.
c
.
Themar
gi
nalbe
ne
fitofFt
.
Laude
r
dal
emus
ti
nc
r
e
as
e
.
d.
Themar
gi
nalc
os
tofFt
.
Laude
r
dal
emus
ti
nc
r
e
as
e
.
ANSWER:
c
.
Themar
gi
nalbe
ne
fitofFt
.
Laude
r
dal
emus
ti
nc
r
e
as
e
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
59.
Thea
ve
r
a
gec
os
tpe
rs
e
a
tont
he50pas
s
e
nge
rFl
oa
t
i
ngOnAi
rBusc
ompa
ny’
st
r
i
pf
r
om Kans
asCi
t
yt
oSt
.Loui
si
s
$40.
I
fnor
e
f
r
e
s
hme
nt
sar
es
e
r
ve
dand3s
e
a
t
sar
ee
mpt
y
,t
hebusc
ompanyc
oul
di
nc
r
e
as
ei
t
spr
ofitonl
yi
fi
t
a
.
c
har
ge
dnol
e
s
st
han$40f
ort
he3r
e
mai
ni
ngs
e
a
t
s
.
b.
c
har
ge
dmor
et
han$40f
ort
he3r
e
mai
ni
ngs
e
a
t
s
.
c
.
c
har
ge
danyt
i
c
ke
tpr
i
c
ea
bove$0f
ort
her
e
mai
ni
ngs
e
a
t
s
.
d.
l
e
f
tt
hes
e
a
t
se
mpt
y
.
ANSWER:
c
.
c
har
ge
danyt
i
c
ke
tpr
i
c
ea
bove$0f
ort
her
e
mai
ni
ngs
e
a
t
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
60.
Ar
a
t
i
onalde
c
i
s
i
onmake
rt
ake
sanac
t
i
ononl
yi
ft
he
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
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Chapter 1/Ten Principles of Economics  8
a
.
mar
gi
nalbe
ne
fiti
sl
e
s
st
hant
hemar
gi
nalc
os
t
.
b.
mar
gi
nalbe
ne
fiti
sgr
e
a
t
e
rt
hant
hemar
gi
nalc
os
t
.
c
.
a
ve
r
a
gebe
ne
fiti
sgr
e
a
t
e
rt
hant
hea
ve
r
a
gec
os
t
.
d.
mar
gi
nalbe
ne
fiti
sgr
e
a
t
e
rt
hanbot
ht
hea
ve
r
a
gec
os
tandt
hemar
gi
nalc
os
t
.
ANSWER:
b.
mar
gi
nalbe
ne
fiti
sgr
e
a
t
e
rt
hant
hemar
gi
nalc
os
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
61.
Mi
kehass
pe
nt$500pur
c
has
i
ngandr
e
pai
r
i
nganol
dfis
hi
ngboa
t
,whi
c
hhee
xpe
c
t
st
os
e
l
lf
or$800onc
et
he
r
e
pai
r
sar
ec
ompl
e
t
e
.
Hedi
s
c
ove
r
st
ha
thene
e
dsanaddi
t
i
onalr
e
pai
r
,whi
c
hwi
l
lc
os
t$400
,i
nor
de
rt
oc
ompl
e
t
et
her
e
pai
r
s
.
Hec
ans
e
l
lt
heboa
tasi
ti
snow f
or$300.
Wha
ts
houl
dhedo?
a
.
Hes
houl
dc
uthi
sl
os
s
e
sandt
aket
he$300.
b.
Hes
houl
dne
ve
rs
e
l
ls
ome
t
hi
ngf
orl
e
s
st
hani
tc
os
t
.
c
.
Hes
houl
dc
ompl
e
t
et
her
e
pai
r
sands
e
l
lt
heboa
t
.
d.
I
tdoe
s
n’
tma
t
t
e
rwhi
c
hac
t
i
onhet
ake
s
;
t
heout
c
omei
st
hes
amee
i
t
he
rwa
y
.
ANSWER:
c
.
Hes
houl
dc
ompl
e
t
et
her
e
pai
r
sands
e
l
lt
heboa
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
62.
St
anbuysa1966Mus
t
ang,whi
c
hhepl
anst
or
e
s
t
or
eands
e
l
l
.Heant
i
c
i
pa
t
e
st
ha
tt
hec
os
toft
hec
arandt
her
e
pai
r
s
wi
l
lbe$10
,
000andt
ha
thec
ans
e
l
li
tf
or$13
,
000.
Whe
nhehass
pe
nt$10
,
000,
hedi
s
c
ove
r
shene
e
dst
or
e
pl
ac
et
hee
ngi
ne
,
whi
c
hwi
l
lc
os
t$4,
000
.Hec
ans
e
l
lt
hec
a
rwi
t
houtt
hene
we
ngi
nef
or$9
,
000.
St
ans
houl
d
a
.
c
ompl
e
t
et
her
e
pai
r
sands
e
l
lt
hec
arf
or$13
,
000
.
b.
c
uthi
sl
os
s
e
sands
e
l
lt
hec
arnow f
or$9,
000.
d.
ne
ve
rt
r
ys
uc
hane
xpe
ns
i
vepr
oj
e
c
ta
gai
n.
c
.
bet
ot
al
l
yi
ndi
ffe
r
e
ntbe
t
we
e
nfini
s
hi
ngt
hepr
oj
e
c
tands
e
l
l
i
ngt
hec
arnow.
ANSWER:
d.
bet
ot
al
l
yi
ndi
ffe
r
e
ntbe
t
we
e
nfini
s
hi
ngt
hepr
oj
e
c
tands
e
l
l
i
ngt
hec
arnow.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
63.
A donuts
hops
e
l
l
sf
r
e
s
hbake
ddonut
sf
r
om 5a
.
m.
unt
i
l3p.
m.
e
ve
r
yda
ybutSunda
y
.Thec
os
tofmaki
ngand
s
e
l
l
i
ngadoze
ngl
aze
ddonut
si
s$1
.
00.
Si
nc
et
hi
ss
hopdoe
snots
e
l
lda
yol
ddonut
st
hene
xtda
y
,wha
ts
houl
dt
hemana
ge
r
doi
fhes
t
i
l
lhas10doze
nl
e
f
ta
t2
:
30p.
m.
?
a
.
l
owe
rt
hepr
i
c
eoft
her
e
mai
ni
ngdonut
se
ve
ni
ft
hepr
i
c
ef
al
l
sbe
l
ow $1
.
00
b.
l
owe
rt
hepr
i
c
eoft
her
e
mai
ni
ngdonut
sasl
ongasi
t
’
smor
et
han$1
.
00
c
.
Lowe
rt
hepr
i
c
eonal
ldonut
ss
ot
he
ywi
l
lal
lbes
ol
de
ar
l
i
e
ri
nt
heda
y
d.
t
hr
ow t
he
ma
wa
yandpr
oduc
e10f
e
we
rdoze
nt
omor
r
ow
ANSWER:
a
.
l
owe
rt
hepr
i
c
eoft
her
e
mai
ni
ngdonut
se
ve
ni
ft
hepr
i
c
ef
al
l
sbe
l
ow $1
.
00
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
64.
Ec
onomi
s
t
sunde
r
s
t
andt
ha
tpe
opl
er
e
s
pondt
o
a
.
l
a
ws
.
b.
i
nc
e
nt
i
ve
s
.
c
.
t
hr
e
a
t
smor
et
hanr
e
war
ds
.
d.
pos
i
t
i
ve
s
,butnotne
ga
t
i
ve
s
.
ANSWER:
b.
i
nc
e
nt
i
ve
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
65.
Whe
npol
i
c
ymake
r
smakepol
i
c
i
e
st
ha
tc
hanget
hec
os
t
sandbe
ne
fit
st
ha
tpe
opl
ef
ac
e
,
t
he
yc
an
a
.
al
t
e
rbe
ha
vi
or
s
.
b.
makepe
opl
ei
gnor
ei
nc
e
nt
i
ve
s
.
c
.
c
r
e
a
t
ei
nfla
t
i
on.
d.
r
e
duc
egove
r
nme
ntr
e
ve
nue
.
ANSWER:
a
.
al
t
e
rbe
ha
vi
or
s
.
TYPE:
SECTI
ON:1DI
FFI
CULTY:
2
66.
Ral
phNade
r
’
sbookUns
a
f
ea
tAnySpe
e
dc
aus
e
dCongr
e
s
st
or
e
qui
r
e
a
.
s
af
e
t
ygl
as
si
nal
lne
wc
ar
s
.
b.
s
e
a
tbe
l
t
si
nal
lne
wc
ar
s
.
c
.
ai
rba
gsi
nal
lne
wc
ar
s
.
d.
s
t
r
i
c
t
e
rdr
unkdr
i
vi
ngl
a
wsi
nal
ls
t
a
t
e
s
.
ANSWER:
b.
s
e
a
tbe
l
t
si
nal
lne
wc
ar
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
67.
U.
S.l
a
wsr
e
qui
r
i
ngt
ha
tdr
i
ve
r
swe
a
rs
e
a
tbe
l
t
sha
ver
e
s
ul
t
e
di
n
a
.
ar
e
duc
t
i
oni
nbot
hdr
i
ve
rde
a
t
hsandpe
de
s
t
r
i
ande
a
t
hs
.
b.
f
e
we
rac
c
i
de
nt
sandf
e
we
rde
a
t
hspe
rac
c
i
de
nt
.
c
.
f
e
we
rdr
i
ve
rde
a
t
hs
,f
e
we
rac
c
i
de
nt
sandf
e
we
rpe
de
s
t
r
i
ande
a
t
hs
.
d.
l
i
t
t
l
ec
hangei
nt
henumbe
rofdr
i
ve
rde
a
t
hs
,butmor
eac
c
i
de
nt
sandmor
epe
de
s
t
r
i
ande
a
t
hs
.
ANSWER:
d.
l
i
t
t
l
ec
hangei
nt
henumbe
rofdr
i
ve
rde
a
t
hs
,butmor
eac
c
i
de
nt
sandmor
epe
de
s
t
r
i
ande
a
t
hs
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  9
68.
Onee
ffe
c
tofagove
r
nme
nt
i
mpos
e
ds
e
a
tbe
l
tl
a
w hasbe
e
n
a
.
f
e
we
rpe
de
s
t
r
i
ande
a
t
hs
.
b.
s
af
e
rdr
i
vi
ng.
c
.
ani
nc
r
e
as
ei
nt
henumbe
rofac
c
i
de
nt
s
.
d.
t
ha
te
ve
r
yonenow we
ar
ss
e
a
tbe
l
t
s
.
ANSWER:
c
.
ani
nc
r
e
as
ei
nt
henumbe
rofac
c
i
de
nt
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
1
69.
Whi
c
hoft
hef
ol
l
owi
ngdoe
sNOTr
e
s
ul
twhe
ns
e
a
tbe
l
tl
a
wsal
t
e
radr
i
ve
r
’
sc
os
t
be
ne
fitc
al
c
ul
a
t
i
on?
a
.
Fe
we
rdr
i
ve
r
sar
eki
l
l
e
d.
b.
Mor
epe
de
s
t
r
i
ansar
eki
l
l
e
d.
c
.
Dr
i
ve
r
sdr
i
vef
as
t
e
r
.
d.
Mor
eac
c
i
de
nt
soc
c
ur
.
ANSWER:
a
.
Fe
we
rdr
i
ve
r
sar
eki
l
l
e
d.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
70.
I
nt
hef
or
me
rSovi
e
tUni
on,pr
oduc
e
r
swe
r
epai
df
orme
e
t
i
ngout
putt
ar
ge
t
s
,notf
ors
e
l
l
i
ngpr
oduc
t
s
.Unde
rt
hos
e
c
i
r
c
ums
t
anc
e
s
,wha
twe
r
et
hee
c
onomi
ci
nc
e
nt
i
ve
sf
orpr
oduc
e
r
s
?
a
.
t
opr
oduc
egoodqual
i
t
ypr
oduc
t
ss
ot
ha
ts
oc
i
e
t
ybe
ne
fit
sf
r
om t
her
e
s
our
c
e
sus
e
d
b.
t
oc
ons
e
r
veonc
os
t
s
,
s
oast
omai
nt
ai
ne
ffic
i
e
nc
yi
nt
hee
c
onomy
c
.
t
opr
oduc
ee
nought
ome
e
tt
heout
putt
ar
ge
t
,wi
t
houtr
e
gar
df
orqual
i
t
yorc
os
t
d.
t
opr
oduc
et
hos
epr
oduc
t
st
ha
ts
oc
i
e
t
yde
s
i
r
e
smos
t
ANSWER:
c
.
t
opr
oduc
ee
nought
ome
e
tt
heout
putt
ar
ge
t
,wi
t
houtr
e
gar
df
orqual
i
t
yorc
os
t
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
71.
Yourpr
of
e
s
s
orl
ove
she
rwor
k,t
e
ac
hi
nge
c
onomi
c
s
.Shehasbe
e
noffe
r
e
dot
he
rpos
i
t
i
onsi
nt
hec
or
por
a
t
ewor
l
d
maki
ng25pe
r
c
e
ntmor
e
,buthasde
c
i
de
dt
os
t
a
yi
nt
e
a
c
hi
ng.
He
rde
c
i
s
i
onwoul
dnotc
ha
ngeunl
e
s
st
hemar
gi
nal
a
.
c
os
toft
e
ac
hi
ngi
nc
r
e
as
e
d.
b.
be
ne
fitoft
e
a
c
hi
ngi
nc
r
e
as
e
d.
c
.
c
os
toft
e
ac
hi
ngde
c
r
e
as
e
d.
d.
c
os
tofac
or
por
a
t
ej
obi
nc
r
e
as
e
d.
ANSWER:
a
.
c
os
toft
e
ac
hi
ngi
nc
r
e
as
e
d.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
72.
Suppos
eyourmana
ge
me
ntpr
of
e
s
s
orhasbe
e
noffe
r
e
dac
or
por
a
t
ej
obwi
t
ha30% pa
yi
nc
r
e
as
e
.Hehasde
c
i
de
dt
o
t
aket
hej
ob.
Forhi
m,t
hemar
gi
nal
a
.
c
os
tofl
e
a
vi
ngwasgr
e
a
t
e
rt
hant
hemar
gi
nalbe
ne
fit
.
b.
be
ne
fitofl
e
a
vi
ngwasgr
e
a
t
e
rt
hant
hemar
gi
nalc
os
t
.
c
.
be
ne
fitoft
e
a
c
hi
ngwasgr
e
a
t
e
rt
hant
hemar
gi
nalc
os
t
.
d.
Al
loft
heabovear
ec
or
r
e
c
t
.
ANSWER:
b.
be
ne
fitofl
e
a
vi
ngwasgr
e
a
t
e
rt
hant
hemar
gi
nalc
os
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
3
73.
Whe
npol
i
c
ymake
r
si
mpl
e
me
ntpol
i
c
i
e
st
ha
tal
t
e
ri
nc
e
nt
i
ve
s
,t
he
y
a
.
ha
vec
ar
e
f
ul
l
ywe
i
ghe
dt
hedi
r
e
c
tandi
ndi
r
e
c
te
ffe
c
t
soft
hepol
i
c
y
.
b.
of
t
e
ndonotal
wa
ysge
tt
hei
nt
e
nde
dr
e
s
ul
t
.
c
.
ha
vec
ons
i
de
r
e
dal
lpos
s
i
bl
ee
ffe
c
t
soft
hei
nc
e
nt
i
vec
ha
nge
swhe
nt
he
yde
ve
l
ope
dt
hepol
i
c
y
,whi
c
hwi
l
l
maket
hepol
i
c
ye
ffe
c
t
i
ve
.
d.
ge
ne
r
al
l
yc
or
r
e
c
t
l
yant
i
c
i
pa
t
et
hei
ndi
r
e
c
te
ffe
c
t
s
,butof
t
e
nmi
s
st
hedi
r
e
c
te
ffe
c
t
s
.
ANSWER:
b.
of
t
e
ndonotal
wa
ysge
tt
hei
nt
e
nde
dr
e
s
ul
t
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
74.
Tr
adec
anbe
ne
fitaf
ami
l
y
a
.
byal
l
owi
ngt
hef
ami
l
yt
obuyagr
e
a
t
e
rvar
i
e
t
yofgoodsands
e
r
vi
c
e
sa
tal
owe
rc
os
t
.
b.
byal
l
owi
nge
ac
hpe
r
s
ont
os
pe
c
i
al
i
zei
nt
heac
t
i
vi
t
i
e
sheors
hedoe
sbe
s
t
.
c
.
onl
yi
ft
hef
ami
l
yi
snoti
ne
c
onomi
cc
ompe
t
i
t
i
onwi
t
hot
he
rf
ami
l
i
e
s
.
d.
Al
loft
heabovear
ec
or
r
e
c
t
.
e
.
Bot
haandbar
ec
or
r
e
c
t
.
ANSWER:
e
.
Bot
haandbar
ec
or
r
e
c
t
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
75.
Whi
c
hi
st
hemos
tac
c
ur
a
t
es
t
a
t
e
me
ntaboutt
r
ade
?
a
.
Tr
adec
anmakee
ve
r
yna
t
i
onbe
t
t
e
roff.
b.
Tr
ademake
ss
omena
t
i
onsbe
t
t
e
roffandot
he
r
swor
s
eoff.
c
.
Tr
adi
ngf
oragoodc
anmakeana
t
i
onbe
t
t
e
roffonl
yi
ft
hena
t
i
onc
annotpr
oduc
et
ha
tgoodi
t
s
e
l
f
.
d.
Tr
adehe
l
psr
i
c
hna
t
i
onsandhur
t
spoorna
t
i
ons
.
ANSWER:
a
.
Tr
adec
anmakee
ve
r
yna
t
i
onbe
t
t
e
roff.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
76.
Eac
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
sa
boutt
r
adei
st
r
ueEXCEPT
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  10
a
.
Tr
adei
nc
r
e
as
e
sc
ompe
t
i
t
i
on.
b.
Onec
ount
r
ywi
nsandonec
ount
r
yl
os
e
s
.
c
.
TheUni
t
e
dSt
a
t
e
sc
anbe
ne
fitf
r
om t
r
adewi
t
hanyc
ount
r
y
.
d.
Tr
adeal
l
owspe
opl
et
obuyagr
e
a
t
e
rvar
i
e
t
yofgoodsands
e
r
vi
c
e
sa
tl
owe
rc
os
t
.
ANSWER:
b.
Onec
ount
r
ywi
nsandonec
ount
r
yl
os
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
77.
Be
ne
fit
sf
r
om t
r
adewoul
dNOTi
nc
l
ude
a
.
t
hea
bi
l
i
t
yt
os
pe
c
i
al
i
ze
.
b.
agr
e
a
t
e
rvar
i
e
t
yofgoodsands
e
r
vi
c
e
sbe
c
omi
nga
vai
l
abl
e
.
c
.
l
e
s
sc
ompe
t
i
t
i
on.
d.
l
owe
rpr
i
c
e
s
.
ANSWER:
c
.
l
e
s
sc
ompe
t
i
t
i
on.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
78.
Tr
adebe
t
we
e
nt
heUni
t
e
dSt
a
t
e
sandI
ndi
a
a
.
be
ne
fit
sbot
ht
heUni
t
e
dSt
a
t
e
sandI
ndi
a
.
b.
i
sal
os
i
ngpr
opos
i
t
i
onf
ort
heUni
t
e
dSt
a
t
e
sbe
c
aus
eI
ndi
ahasc
he
ape
rl
a
bor
.
c
.
i
sl
i
keas
por
t
sc
ont
e
s
t
:
ones
i
dewi
nsandt
heot
he
rs
i
del
os
e
s
.
d.
i
sal
os
i
ngpr
opos
i
t
i
onf
orI
ndi
abe
c
aus
eU.
S.
wor
ke
r
sar
emor
epr
oduc
t
i
ve
.
ANSWER:
a
.
be
ne
fit
sbot
ht
heUni
t
e
dSt
a
t
e
sandI
ndi
a
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
79.
Canadac
anbe
ne
fitf
r
om t
r
ade
a
.
onl
ywi
t
hna
t
i
onswhi
c
hc
anpr
oduc
egoodsCanadac
annotpr
oduc
e
.
b.
wi
t
hanyna
t
i
on.
c
.
wi
t
hanyna
t
i
onnoti
ne
c
onomi
cc
ompe
t
i
t
i
onwi
t
hCanada
.
d.
onl
ywi
t
hl
e
s
sde
ve
l
ope
dna
t
i
ons
.
ANSWER:
b.
wi
t
hanyna
t
i
on.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
80.
I
fJ
apanc
hoos
e
st
oe
nga
gei
nt
r
ade
,i
t
a
.
wi
l
lonl
ybe
ne
fiti
fi
tt
r
ade
swi
t
hc
ount
r
i
e
swhi
c
hpr
oduc
egoodsi
tc
annotpr
oduc
e
.
b.
c
annotbe
ne
fiti
fi
tt
r
ade
swi
t
hl
e
s
sde
ve
l
ope
dc
ount
r
i
e
s
.
c
.
s
houl
dfir
s
ta
t
t
e
mptt
opr
oduc
et
hegoodi
t
s
e
l
f
.
d.
c
anbe
ne
fitbyt
r
adi
ngwi
t
ha
nyot
he
rc
ount
r
y
.
ANSWER:
d.
c
anbe
ne
fitbyt
r
adi
ngwi
t
ha
nyot
he
rc
ount
r
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
81.
I
ft
heUni
t
e
dSt
a
t
e
sde
c
i
de
st
ot
r
adewi
t
hMe
xi
c
o,
weknow t
ha
t
a
.
Me
xi
c
owi
l
lbebe
t
t
e
roff,
butt
r
adewi
t
hal
e
s
sde
ve
l
ope
dc
ount
r
yc
oul
dnothe
l
pt
heUni
t
e
dSt
a
t
e
s
.
b.
i
twi
l
lnotbe
ne
fitMe
xi
c
obe
c
aus
ewor
ke
r
si
nt
heUni
t
e
dSt
a
t
e
sar
emor
epr
oduc
t
i
ve
.
c
.
Me
xi
c
oandt
heUni
t
e
dSt
a
t
e
sc
anbot
hbebe
t
t
e
roff.
d.
i
twi
l
lnotbe
ne
fite
i
t
he
rc
ount
r
ybe
c
aus
et
he
yar
et
oodi
ffe
r
e
ntc
ul
t
ur
al
l
y
.
ANSWER:
c
.
Me
xi
c
oandt
heUni
t
e
dSt
a
t
e
sc
anbot
hbebe
t
t
e
roff.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
82.
I
fFr
anc
ei
sbe
t
t
e
rt
hanBe
l
a
r
usa
tpr
oduc
i
ngwi
ne
,butBe
l
a
r
usi
sbe
t
t
e
rt
hanFr
anc
ea
tpr
oduc
i
ngc
r
ys
t
a
l
,
a
.
Be
l
ar
uss
houl
ds
e
l
lc
r
ys
t
alt
oFr
anc
e
,ands
houl
dbuyFr
e
nc
hwi
ne
.
b.
Be
l
ar
uss
houl
di
mpos
eat
ar
i
ffonFr
e
nc
hwi
nei
nor
de
rt
opr
ot
e
c
tj
obsi
nt
heBe
l
ar
us
i
anc
r
ys
t
ali
ndus
t
r
y
.
c
.
Be
l
ar
uss
houl
ds
ubs
i
di
zei
t
swi
nei
ndus
t
r
ys
ot
ha
ti
tc
anc
ompe
t
ewi
t
hFr
e
nc
hwi
ne
.
d.
Be
l
ar
uss
houl
dputaquot
aont
heamountofFr
e
nc
hwi
nei
mpor
t
e
d.
ANSWER:
a
.
Be
l
ar
uss
houl
ds
e
l
lc
r
ys
t
alt
oFr
anc
e
,ands
houl
dbuyFr
e
nc
hwi
ne
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
83.
Whi
c
hoft
hef
ol
l
owi
ngi
st
hebe
s
ts
t
a
t
e
me
ntaboutmar
ke
t
s
?
a
.
Mar
ke
t
sar
eus
ual
l
yagoodwa
yt
oor
gani
zee
c
onomi
cac
t
i
vi
t
y
.
b.
Mar
ke
t
sar
eus
ual
l
yi
nf
e
r
i
ort
oc
e
nt
r
alpl
anni
ngasawa
yt
oor
gani
zee
c
onomi
cac
t
i
vi
t
y
.
c
.
Mar
ke
t
sf
ai
landar
et
he
r
e
f
or
enotanac
c
e
pt
a
bl
ewa
yt
oor
gani
zee
c
onomi
cac
t
i
vi
t
y
.
d.
Mar
ke
t
sar
eagoodwa
yt
oor
gani
zee
c
onomi
cac
t
i
vi
t
yi
nde
ve
l
ope
dna
t
i
ons
,
butnoti
nl
e
s
sde
ve
l
ope
d
na
t
i
ons
.
ANSWER:
a
.
Mar
ke
t
sar
eus
ual
l
yagoodwa
yt
oor
gani
zee
c
onomi
cac
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
84.
Whi
c
hwoul
dNOTbet
r
uei
namar
ke
te
c
onomy?
a
.
Fi
r
msde
c
i
dewhom t
ohi
r
eandwha
tt
opr
oduc
e
.
b.
Gove
r
nme
ntpol
i
c
i
e
sdonotaffe
c
tt
hede
c
i
s
i
onsoffir
msandhous
e
hol
ds
.
c
.
Hous
e
hol
dsde
c
i
dewhi
c
hfir
mst
owor
kf
orandwha
tt
obuywi
t
ht
he
i
ri
nc
ome
s
.
d.
Pr
ofitands
e
l
f
i
nt
e
r
e
s
tgui
det
hede
c
i
s
i
onsoffir
msandhous
e
hol
ds
.
ANSWER:
b.
Gove
r
nme
ntpol
i
c
i
e
sdonotaffe
c
tt
hede
c
i
s
i
onsoffir
msandhous
e
hol
ds
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  11
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
85.
Thede
c
i
s
i
onsoffir
msandhous
e
hol
dsar
egui
de
dbypr
ofitands
e
l
f
i
nt
e
r
e
s
ti
na
a
.
c
ommande
c
onomy
.
b.
t
r
adi
t
i
onale
c
onomy
.
c
.
mar
ke
te
c
onomy
.
d.
Al
loft
heabovear
ec
or
r
e
c
t
.
ANSWER:
c
.
mar
ke
te
c
onomy
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
86.
I
namar
ke
te
c
onomy
,e
c
onomi
cac
t
i
vi
t
yi
sgui
de
dby
a
.
t
hegove
r
nme
nt
.
b.
c
or
por
a
t
i
ons
.
c
.
c
e
nt
r
alpl
anne
r
s
.
d.
pr
i
c
e
s
.
ANSWER:
d.
pr
i
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
87.
Thet
e
r
m us
e
dt
ode
s
c
r
i
beas
i
t
ua
t
i
oni
nwhi
c
hmar
ke
t
sf
ai
lt
oal
l
oc
a
t
er
e
s
our
c
e
se
ffic
i
e
nt
l
yi
sc
al
l
e
d
a
.
e
c
onomi
cme
l
t
down.
b.
mar
ke
tf
ai
l
ur
e
.
c
.
c
or
por
a
t
ebankr
upt
c
y
.
d.
di
s
e
qui
l
i
br
i
um.
ANSWER:
b.
mar
ke
tf
ai
l
ur
e
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
88.
I
namar
ke
te
c
onomyde
c
i
s
i
onsar
egui
de
dbyi
ndi
vi
duals
e
l
f
i
nt
e
r
e
s
t
.
He
nc
e
,t
he
r
ei
s
a
.
s
t
i
l
lt
heabi
l
i
t
yt
oa
c
hi
e
vede
s
i
r
abl
ee
c
onomi
cwe
l
l
be
i
ngf
ors
oc
i
e
t
yasawhol
e
.
b.
as
t
r
ongne
e
df
orgove
r
nme
nti
nt
e
r
ve
nt
i
oni
nt
hemar
ke
t
.
c
.
l
e
s
se
ffic
i
e
nc
yi
nmar
ke
te
c
onomi
e
st
hani
nc
ommande
c
onomi
e
s
.
d.
mor
ene
e
df
oras
t
r
ongl
e
gals
ys
t
e
mt
oc
ont
r
oli
ndi
vi
dualgr
e
e
d.
ANSWER:
a
.
s
t
i
l
lt
heabi
l
i
t
yt
oa
c
hi
e
vede
s
i
r
abl
ee
c
onomi
cwe
l
l
be
i
ngf
ors
oc
i
e
t
yasawhol
e
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
89.
Pr
i
c
e
sdi
r
e
c
te
c
onomi
cac
t
i
vi
t
yi
namar
ke
te
c
onomyby
a
.
i
nflue
nc
i
ngt
heac
t
i
onsofbuye
r
sands
e
l
l
e
r
s
.
b.
r
e
duc
i
ngs
c
ar
c
i
t
yoft
hegoodsands
e
r
vi
c
e
spr
oduc
e
d.
c
.
e
l
i
mi
na
t
i
ngt
hene
e
df
orgove
r
nme
nti
nt
e
r
ve
nt
i
on.
d.
al
l
oc
a
t
i
nggoodsands
e
r
vi
c
e
spr
oduc
e
di
nt
hemos
te
qui
t
abl
ewa
y
.
ANSWER:
a
.
i
nflue
nc
i
ngt
heac
t
i
onsofbuye
r
sands
e
l
l
e
r
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
90.
I
namar
ke
te
c
onomy
,pr
i
c
e
sr
e
fle
c
tt
he
a
.
val
ueofagoodt
os
oc
i
e
t
y
.
b.
c
os
tt
os
oc
i
e
t
yofmaki
ngt
hegood.
c
.
quant
i
t
ys
oc
i
e
t
ywi
l
lul
t
i
ma
t
e
l
yc
hoos
et
opr
oduc
e
.
d.
Bot
haandbar
ec
or
r
e
c
t
.
ANSWER:
d.
Bot
haandbar
ec
or
r
e
c
t
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
91.
Ane
xampl
eofmar
ke
tpowe
ri
s
a
.
af
as
tf
oodr
e
s
t
aur
anti
nac
ol
l
e
get
own.
b.
awhe
a
tf
a
r
me
ri
nKans
as
.
c
.
t
hel
as
tgass
t
a
t
i
oni
nNe
w Me
xi
c
of
or100mi
l
e
s
.
d.
as
hoes
t
or
ei
nKe
nt
uc
ky
.
ANSWER:
c
.
t
hel
as
tgass
t
a
t
i
oni
nNe
w Me
xi
c
of
or100mi
l
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
92.
Ane
xampl
eofafir
m wi
t
hmar
ke
tpowe
ri
sa
a
.
de
l
ii
nNe
w Yor
k.
b.
c
abl
eTVpr
ovi
de
ri
nSt
.Loui
s
.
c
.
c
l
ot
hi
ngs
t
or
ei
nLosAnge
l
e
s
.
d.
f
ar
me
ri
nI
l
l
i
noi
s
.
ANSWER:
b.
c
abl
eTVpr
ovi
de
ri
nSt
.Loui
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
93.
Oneadvant
a
gemar
ke
te
c
onomi
e
sha
veove
rc
e
nt
r
alpl
anni
ngi
st
ha
tmar
ke
te
c
onomi
e
s
a
.
pr
ovi
deane
qualdi
s
t
r
i
but
i
onofgoodsands
e
r
vi
c
e
st
oc
ons
ume
r
s
.
b.
e
s
t
a
bl
i
s
hgove
r
nme
nte
c
onomi
cc
ont
r
ol
.
c
.
s
ol
vet
hepr
obl
e
m ofs
c
ar
c
i
t
y
.
d.
ar
emor
ee
ffic
i
e
nt
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  12
ANSWER:
d.
ar
emor
ee
ffic
i
e
nt
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
94.
A mar
ke
te
c
onomydi
ffe
r
sf
r
om ac
ommuni
s
te
c
onomyi
nt
ha
te
c
onomi
cde
c
i
s
i
onsar
emadeby
a
.
ac
e
nt
r
alpl
anne
r
.
b.
mi
l
l
i
onsoffir
msandhous
e
hol
ds
.
c
.
pr
i
mar
i
l
yt
hegove
r
nme
nt
.
d.
l
ar
gec
or
por
a
t
i
ons
.
ANSWER:
b.
mi
l
l
i
onsoffir
msandhous
e
hol
ds
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
95.
Thec
ol
l
aps
eofc
ommuni
s
mi
nt
heSovi
e
tUni
onandEas
t
e
r
nEur
opet
ookpl
ac
ei
nt
he
a
.
1960s
b.
1970s
c
.
1980s
d.
1990s
ANSWER:
c
.
1980s
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
96.
Pr
i
ort
oi
t
sc
ol
l
aps
e
,
c
ommuni
s
tc
ount
r
i
e
swor
ke
dont
hepr
e
mi
s
et
ha
te
c
onomi
cwe
l
l
be
i
ngc
oul
dbeor
gani
ze
d
onl
yt
hr
ough/by
a
.
amar
ke
te
c
onomy
.
b.
gove
r
nme
ntc
e
nt
r
alpl
anne
r
s
.
c
.
gove
r
nme
nt
i
mpos
e
dpr
i
va
t
emonopol
i
e
s
.
d.
i
nc
r
e
as
e
dc
ompe
t
i
t
i
on.
ANSWER:
b.
gove
r
nme
ntc
e
nt
r
alpl
anne
r
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
97.
Whi
c
hoft
hef
ol
l
owi
ngobs
e
r
va
t
i
onswasmadef
amousbyAdam Smi
t
hi
nhi
sbookTheWe
a
l
t
ho
fNa
t
i
o
ns
?
a
.
The
r
ei
snos
uc
ht
hi
ngasaf
r
e
el
unc
h.
b.
Pe
opl
ebuymor
ewhe
npr
i
c
e
sar
el
ow t
hanwhe
npr
i
c
e
sar
ehi
gh.
c
.
Noma
t
t
e
rhow muc
hpe
opl
ee
ar
n,t
he
yt
e
ndt
os
pe
ndmor
et
hant
he
ye
ar
n.
d.
Hous
e
hol
dsandfir
msi
nt
e
r
ac
t
i
ngi
nmar
ke
t
sar
egui
de
dbyan“i
nvi
s
i
bl
ehand”t
ha
tl
e
adst
he
mt
o
de
s
i
r
abl
emar
ke
tout
c
ome
s
.
ANSWER:
d.
Hous
e
hol
dsandfir
msi
nt
e
r
ac
t
i
ngi
nmar
ke
t
sar
egui
de
dbyan“i
nvi
s
i
bl
ehand”t
ha
tl
e
adst
he
mt
o
de
s
i
r
abl
emar
ke
tout
c
ome
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
98.
Thet
e
r
m “i
nvi
s
i
bl
ehand”wasc
oi
ne
dby
a
.
Adam Smi
t
h.
b.
Da
vi
dRi
c
ar
do.
c
.
J
ohnMa
ynar
dKe
yne
s
.
d.
ThomasJ
e
ffe
r
s
on.
ANSWER:
a
.
Adam Smi
t
h.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
99.
The“i
nvi
s
i
bl
ehand”di
r
e
c
t
se
c
onomi
cac
t
i
vi
t
yt
hr
ough
a
.
adve
r
t
i
s
i
ng.
b.
pr
i
c
e
s
.
c
.
c
e
nt
r
alpl
anni
ng.
d.
gove
r
nme
ntr
e
gul
a
t
i
ons
.
ANSWER:
b.
pr
i
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
100.
Thei
nvi
s
i
bl
ehand’
sabi
l
i
t
yt
oc
oor
di
na
t
et
hede
c
i
s
i
onsoft
hefir
msandhous
e
hol
dsi
nt
hee
c
onomyc
anbe
hi
nde
r
e
dby
a
.
gove
r
nme
ntac
t
i
onst
ha
tdi
s
t
or
tpr
i
c
e
s
.
b.
i
nc
r
e
as
e
dc
ompe
t
i
t
i
oni
nt
hemar
ke
t
.
c
.
e
xt
e
nde
dpe
r
i
odsofune
mpl
oyme
nt
.
d.
adr
ama
t
i
cr
e
duc
t
i
oni
nc
ons
ume
rs
pe
ndi
ng.
ANSWER:
a
.
gove
r
nme
ntac
t
i
onst
ha
tdi
s
t
or
tpr
i
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
101.
Adam Smi
t
h’
sbookTheWe
a
l
t
ho
fNa
t
i
o
nswaspubl
i
s
he
di
n
a
.
1692.
b.
1776.
c
.
1816.
d.
1936.
ANSWER:
b.
1776.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  13
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
102.
Bot
hTheWe
a
l
t
ho
fNa
t
i
o
nsandt
heDe
c
l
ar
a
t
i
onofI
nde
pe
nde
nc
es
har
et
hepoi
ntofvi
e
wt
ha
t
a
.
e
ve
r
ype
r
s
oni
se
nt
i
t
l
e
dt
ol
i
f
e
,
l
i
be
r
t
y
,
andt
hepur
s
ui
tofhappi
ne
s
s
.
b.
i
ndi
vi
dual
sar
ebe
s
tl
e
f
tt
ot
he
i
rownde
vi
c
e
swi
t
houtt
hegove
r
nme
ntgui
di
ngt
he
i
rac
t
i
ons
.
c
.
t
hegove
r
nme
nthasac
e
nt
r
alr
ol
ei
nor
gani
zi
ngamar
ke
te
c
onomy
.
d.
be
c
aus
eofhumanna
t
ur
eas
t
r
ongl
e
gals
ys
t
e
mi
sne
c
e
s
s
ar
yf
oramar
ke
ts
ys
t
e
mt
os
ur
vi
ve
.
ANSWER:
b.
i
ndi
vi
dual
sar
ebe
s
tl
e
f
tt
ot
he
i
rownde
vi
c
e
swi
t
houtt
hegove
r
nme
ntgui
di
ngt
he
i
rac
t
i
ons
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
103.
Thei
nvi
s
i
bl
ehandwor
kst
opr
omot
ege
ne
r
alwe
l
l
be
i
ngi
nt
hee
c
onomypr
i
mar
i
l
yt
hr
ough
a
.
gove
r
nme
nti
nt
e
r
ve
nt
i
on.
b.
t
hepol
i
t
i
c
alpr
oc
e
s
s
.
c
.
s
e
l
fi
nt
e
r
e
s
t
.
d.
al
t
r
ui
s
m.
ANSWER:
c
.
s
e
l
fi
nt
e
r
e
s
t
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
104.
Tax
e
sadve
r
s
e
l
yaffe
c
tt
heal
l
oc
a
t
i
onofr
e
s
our
c
e
si
ns
oc
i
e
t
ybe
c
aus
e
a
.
t
he
ydonotal
wa
ysf
al
lmor
ehe
a
vi
l
yont
her
i
c
h.
b.
t
het
ax
e
sc
ol
l
e
c
t
e
dar
enote
nought
ofinanc
egove
r
nme
nts
pe
ndi
ng.
c
.
note
ve
r
yonepa
yst
ax
e
s
.
d.
t
he
ydi
s
t
or
tpr
i
c
e
sandt
hust
hede
c
i
s
i
onsofhous
e
hol
dsandfir
ms
.
ANSWER:
d.
t
he
ydi
s
t
or
tpr
i
c
e
sandt
hust
hede
c
i
s
i
onsofhous
e
hol
dsandfir
ms
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
105.
A pr
i
mar
yf
unc
t
i
onofpr
i
c
e
si
namar
ke
te
c
onomyi
st
opr
ovi
depar
t
i
c
i
pant
swi
t
h
a
.
e
c
onomi
ci
nf
or
ma
t
i
on.
b.
s
pe
ndi
ngl
i
mi
t
s
.
c
.
ac
c
ount
i
ngc
apa
bi
l
i
t
i
e
s
.
d.
ane
qui
t
abl
edi
s
t
r
i
but
i
onofgoods
.
ANSWER:
a
.
e
c
onomi
ci
nf
or
ma
t
i
on.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
106.
Whe
nt
hegove
r
nme
ntpr
e
ve
nt
spr
i
c
e
sf
r
om adj
us
t
i
ngna
t
ur
al
l
yt
os
uppl
yandde
mand,
a
.
i
ts
t
a
bi
l
i
ze
st
hee
c
onomybyr
e
duc
i
ngmar
ke
tunc
e
r
t
ai
nt
i
e
s
.
b.
i
tadve
r
s
e
l
yaffe
c
t
st
heal
l
oc
a
t
i
onofr
e
s
our
c
e
s
.
c
.
t
hei
mpr
ove
me
nti
ne
qui
t
yj
us
t
i
fie
st
her
e
duc
t
i
oni
ne
ffic
i
e
nc
y
.
d.
t
hei
mpr
ove
me
nti
ne
ffic
i
e
nc
yj
us
t
i
fie
st
her
e
duc
t
i
oni
ne
qui
t
y
.
ANSWER:
b.
i
tadve
r
s
e
l
yaffe
c
t
st
heal
l
oc
a
t
i
onofr
e
s
our
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
107.
Onec
ompone
ntne
c
e
s
s
ar
yf
ormar
ke
t
st
owor
ki
s
a
.
gove
r
nme
nti
nt
e
r
ve
nt
i
on.
b.
abe
ne
vol
e
nts
oc
i
e
t
y
.
c
.
pr
ope
r
t
yr
i
ght
s
.
d.
abundantr
e
s
our
c
e
s
.
ANSWER:
c
.
pr
ope
r
t
yr
i
ght
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
108.
Onene
c
e
s
s
ar
yr
ol
eofgove
r
nme
nti
namar
ke
te
c
onomyi
st
o
a
.
t
axgoodsands
e
r
vi
c
e
swhi
c
har
emos
tde
s
i
r
e
dbyc
ons
ume
r
s
.
b.
mai
nt
ai
nwe
l
f
ar
epr
ogr
amsf
ort
hepoor
.
c
.
pr
ovi
des
e
r
vi
c
e
ss
uc
hasmai
lde
l
i
ve
r
y
.
d.
e
nf
or
c
epr
ope
r
t
yr
i
ght
s
.
ANSWER:
d.
e
nf
or
c
epr
ope
r
t
yr
i
ght
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
109.
Thegove
r
nme
nte
nf
or
c
e
spr
ope
r
t
yr
i
ght
sby
a
.
r
e
qui
r
i
ngpr
ope
r
t
yowne
r
st
opa
ypr
ope
r
t
yt
ax
e
s
.
b.
pr
ovi
di
ngpol
i
c
eandc
our
t
s
.
c
.
al
l
owi
ngpe
opl
et
ode
c
i
dewhe
t
he
rornott
he
ywi
s
ht
oownpr
ope
r
t
y
.
d.
pr
ovi
di
ngas
ys
t
e
m ofr
e
c
or
di
ngpr
ope
r
t
yde
e
ds
.
ANSWER:
b.
pr
ovi
di
ngpol
i
c
eandc
our
t
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
110.
Wi
t
houtgove
r
nme
nt
’
spr
ot
e
c
t
i
onofpr
ope
r
t
yr
i
ght
s
a
.
bus
i
ne
s
s
e
swoul
dha
vel
e
s
si
nc
e
nt
i
vet
opr
ovi
degoodsands
e
r
vi
c
e
s
.
b.
t
he
r
ewoul
dbel
e
s
sgove
r
nme
ntr
e
gul
a
t
i
onofbus
i
ne
s
s
e
sandpr
i
c
e
swoul
dbel
owe
rf
orc
ons
ume
r
s
.
c
.
t
ax
e
swoul
dbel
owe
rc
aus
i
ngl
e
s
smar
ke
ti
ne
ffic
i
e
nc
i
e
s
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  14
d.
bus
i
ne
s
s
e
swoul
dha
vemor
ef
r
e
e
dom wi
t
hpr
oduc
t
i
onpr
oc
e
s
s
e
s
.
ANSWER:
a
.
bus
i
ne
s
s
e
swoul
dha
vel
e
s
si
nc
e
nt
i
vet
opr
ovi
degoodsands
e
r
vi
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
111.
Thet
e
r
m mar
ke
tf
ai
l
ur
er
e
f
e
r
st
o
a
.
as
i
t
ua
t
i
oni
nwhi
c
ht
hemar
ke
toni
t
sownf
ai
l
st
oal
l
oc
a
t
er
e
s
our
c
e
se
ffic
i
e
nt
l
y
.
b.
anuns
uc
c
e
s
s
f
uladve
r
t
i
s
i
ngc
ampai
gnwhi
c
hr
e
duc
e
sbuye
rde
mand.
c
.
as
i
t
ua
t
i
oni
nwhi
c
hc
ompe
t
i
t
i
onamongfir
msbe
c
ome
sr
ut
hl
e
s
s
.
d.
afir
m whi
c
hi
sf
or
c
e
doutofbus
i
ne
s
sbe
c
aus
eofl
os
s
e
s
.
ANSWER:
a
.
as
i
t
ua
t
i
oni
nwhi
c
ht
hemar
ke
toni
t
sownf
ai
l
st
oal
l
oc
a
t
er
e
s
our
c
e
se
ffic
i
e
nt
l
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
112.
Whi
c
hoft
hef
ol
l
owi
ngi
sNOTar
e
as
onf
ort
hegove
r
nme
ntt
oi
nt
e
r
ve
nei
nt
hemar
ke
t
?
a
.
t
opr
omot
ee
ffic
i
e
nc
y
b.
t
oe
nf
or
c
epr
ope
r
t
yr
i
ght
s
c
.
t
opr
omot
ee
qui
t
y
d.
t
opr
ot
e
c
tani
ndus
t
r
y
ANSWER:
d.
t
opr
ot
e
c
tani
ndus
t
r
y
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
113.
Twor
e
as
onsf
oragove
r
nme
ntt
oi
nt
e
r
ve
nei
namar
ke
tar
et
o
a
.
r
ai
s
er
e
ve
nue
sandt
opr
omot
es
t
abi
l
i
t
y
.
b.
pr
omot
ee
qui
t
yandt
opr
omot
ee
ffic
i
e
nc
y
.
c
.
pr
omot
ee
qui
t
yandt
opr
omot
es
t
abi
l
i
t
y
.
d.
pr
omot
ee
ffic
i
e
nc
yandt
opr
omot
es
t
abi
l
i
t
y
.
ANSWER:
b.
pr
omot
ee
qui
t
yandt
opr
omot
ee
ffic
i
e
nc
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
114.
Caus
e
sofmar
ke
tf
ai
l
ur
ei
nc
l
ude
a
.
e
xt
e
r
nal
i
t
i
e
sandmar
ke
tpowe
r
.
b.
mar
ke
tpowe
randi
nc
or
r
e
c
tf
or
e
c
as
t
sofc
ons
ume
rde
mand.
c
.
e
xt
e
r
nal
i
t
i
e
sandf
or
e
i
gnc
ompe
t
i
t
i
on.
d.
i
nc
or
r
e
c
tf
or
e
c
as
t
sofc
ons
ume
rde
mandandf
or
e
i
gnc
ompe
t
i
t
i
on.
ANSWER:
a
.
e
xt
e
r
nal
i
t
i
e
sandmar
ke
tpowe
r
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
115.
Mar
ke
tf
ai
l
ur
ec
anbec
aus
e
dby
a
.
l
ow c
ons
ume
rde
mand.
b.
gove
r
nme
nti
nt
e
r
ve
nt
i
onandpr
i
c
ec
ont
r
ol
s
.
c
.
e
xt
e
r
nal
i
t
i
e
sandmar
ke
tpowe
r
.
d.
hi
ghpr
i
c
e
sandf
or
e
i
gnc
ompe
t
i
t
i
on.
ANSWER:
c
.
e
xt
e
r
nal
i
t
i
e
sandmar
ke
tpowe
r
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
116.
Ane
xt
e
r
nal
i
t
yi
st
hei
mpac
tof
a
.
onepe
r
s
on’
sac
t
i
onsont
hewe
l
l
be
i
ngofabys
t
ande
r
.
b.
ape
r
s
on’
sac
t
i
onsont
ha
tpe
r
s
on’
swe
l
l
be
i
ng.
c
.
s
oc
i
e
t
y’
sde
c
i
s
i
onsont
hewe
l
l
be
i
ngofs
oc
i
e
t
y
.
d.
s
oc
i
e
t
y’
sde
c
i
s
i
onsont
hewe
l
l
be
i
ngofonepe
r
s
oni
nt
hes
oc
i
e
t
y
.
ANSWER:
a
.
onepe
r
s
on’
sac
t
i
onsont
hewe
l
l
be
i
ngofabys
t
ande
r
.
TYPE:
M 2SECTI
ON:2DI
FFI
CULTY:1
117.
Ane
xampl
eofane
xt
e
r
nal
i
t
yi
st
hei
mpac
tof
a
.
badwe
a
t
he
ront
hei
nc
omeoff
ar
me
r
s
.
b.
t
hepe
r
s
onali
nc
omet
axonape
r
s
on’
sabi
l
i
t
yt
opur
c
has
egoodsands
e
r
vi
c
e
s
.
c
.
pol
l
ut
i
onf
r
om af
ac
t
or
yont
hehe
al
t
hofpe
opl
ei
nt
hevi
c
i
ni
t
yoft
hef
ac
t
or
y
.
d.
i
nc
r
e
as
e
si
nhe
al
t
hc
ar
ec
os
t
sont
hehe
al
t
hofi
ndi
vi
dual
si
ns
oc
i
e
t
y
.
ANSWER:
c
.
pol
l
ut
i
onf
r
om af
ac
t
or
yont
hehe
al
t
hofpe
opl
ei
nt
hevi
c
i
ni
t
yoft
hef
ac
t
or
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
118.
Whi
c
hoft
hef
ol
l
owi
ngi
smos
tl
i
ke
l
yt
oge
ne
r
a
t
eane
xt
e
r
nal
i
t
y?
a
.
Te
ac
he
r
sa
tal
oc
alhi
ghs
c
hoolha
vepi
zzade
l
i
ve
r
e
de
ve
r
yFr
i
da
yf
orl
unc
h.
b.
A youngmanf
r
om as
mal
lt
owna
t
t
e
ndsme
di
c
als
c
hoolt
obe
c
omeadoc
t
or
.
c
.
A ne
wl
ywe
dc
oupl
ebuysaTVf
ort
he
i
rf
ami
l
yr
oom.
d.
J
ohnbuysat
r
ac
t
ort
omow hi
sne
wl
ypur
c
has
e
d5ac
r
el
ot
.
ANSWER:
b.
A youngmanf
r
om as
mal
lt
owna
t
t
e
ndsme
di
c
als
c
hoolt
obe
c
omeadoc
t
or
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
119.
I
fane
xt
e
r
nal
i
t
yi
spr
e
s
e
nti
namar
ke
t
,
e
c
onomi
ce
ffic
i
e
nc
yma
ybee
nhanc
e
dby
a
.
gove
r
nme
nti
nt
e
r
ve
nt
i
on.
b.
i
nc
r
e
as
e
dc
ompe
t
i
t
i
on.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  15
c
.
be
t
t
e
ri
nf
or
me
dmar
ke
tpar
t
i
c
i
pant
s
.
d.
mor
ede
fine
dpr
ope
r
t
yr
i
ght
s
.
ANSWER:
a
.
gove
r
nme
nti
nt
e
r
ve
nt
i
on.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
120.
I
fac
oppe
rr
e
fine
r
ydoe
sNOTbe
art
hee
nt
i
r
ec
os
toft
hes
mokei
te
mi
t
s
,
i
twi
l
l
a
.
note
mi
tanys
mokes
oast
oa
voi
dt
hee
nt
i
r
ec
os
toft
hes
moke
.
b.
e
mi
tl
owe
rl
e
ve
l
sofs
moke
.
c
.
e
mi
tanac
c
e
pt
abl
el
e
ve
lofs
moke
.
d.
e
mi
tt
oomuc
hs
moke
.
ANSWER:
d.
e
mi
tt
oomuc
hs
moke
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
121.
A mar
ke
te
c
onomyr
e
war
dspe
opl
eac
c
or
di
ngt
o
a
.
t
he
i
rne
e
df
orgoodsands
e
r
vi
c
e
s
.
b.
how wi
l
l
i
ngt
he
yar
et
owor
k.
c
.
t
he
i
rabi
l
i
t
yt
opr
oduc
et
hi
ngst
ha
tot
he
rpe
opl
ear
ewi
l
l
i
ngt
opa
yf
or
.
d.
t
he
i
rabi
l
i
t
yt
opr
oduc
et
hi
ngsofc
ul
t
ur
ali
mpor
t
anc
e
.
ANSWER:
c
.
t
he
i
rabi
l
i
t
yt
opr
oduc
et
hi
ngst
ha
tot
he
rpe
opl
ear
ewi
l
l
i
ngt
opa
yf
or
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
122.
Whi
c
hoft
he
s
ec
ons
umpt
i
onac
t
i
vi
t
i
e
swi
l
lmos
tl
i
ke
l
yi
mpos
eane
xt
e
r
nalc
os
t
?
a
.
Ane
x
e
c
ut
i
vepl
a
ysavi
gor
ousgameofgol
f
.
b.
As
t
ude
nti
nador
m pl
a
yshe
rCDsa
t120de
c
i
be
l
sl
a
t
ea
tni
ght
.
c
.
A youngmot
he
re
x
e
r
c
i
s
e
st
oanae
r
obi
c
svi
de
o.
d.
Ac
ons
t
r
uc
t
i
onwor
ke
re
a
t
sas
andwi
c
hdur
i
nghi
sl
unc
hbr
e
ak.
ANSWER:
b.
As
t
ude
nti
nador
m pl
a
yshe
rCDsa
t120de
c
i
be
l
sl
a
t
ea
tni
ght
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
123.
Whi
c
hoft
he
s
eac
t
i
vi
t
i
e
swi
l
lmos
tl
i
ke
l
yr
e
s
ul
ti
nane
xt
e
r
nalbe
ne
fit
?
a
.
Ac
ol
l
e
ges
t
ude
ntbuysade
c
kofc
ar
dst
opl
a
ys
ol
i
t
ai
r
ei
nhe
rdor
mr
oom.
b.
Ane
l
de
r
l
ywomanpl
ant
saflowe
rgar
de
nont
hevac
antl
otne
xtt
ohe
rhous
e
.
c
.
Ane
x
e
c
ut
i
vepur
c
has
e
sabookt
or
e
adonabus
i
ne
s
st
r
i
p.
d.
At
e
nye
ar
ol
dbuysne
w Ni
ke
swi
t
hhi
sal
l
owanc
emone
yhehass
a
ve
d.
ANSWER:
b.
Ane
l
de
r
l
ywomanpl
ant
saflowe
rgar
de
nont
hevac
antl
otne
xtt
ohe
rhous
e
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
124.
I
fe
duc
a
t
i
onpr
oduc
e
se
xt
e
r
nalbe
ne
fit
sf
ors
oc
i
e
t
y
,whi
c
hoft
hef
ol
l
owi
ngmi
ghtNOTbeanappr
opr
i
a
t
epol
i
c
yf
or
s
oc
i
e
t
yt
oe
s
t
abl
i
s
hr
e
gar
di
nge
duc
a
t
i
on?
a
.
t
axi
nc
e
nt
i
ve
sf
ors
c
hool
i
ng
b.
manda
t
or
ymi
ni
mum l
e
ve
l
sofe
duc
a
t
i
on
c
.
pr
ogr
amswhi
c
hpr
omot
et
hehi
r
i
ngofhi
ghs
c
hooldr
opout
s
d.
publ
i
cs
ubs
i
di
e
sofe
duc
a
t
i
on
ANSWER:
c
.
pr
ogr
amswhi
c
hpr
omot
et
hehi
r
i
ngofhi
ghs
c
hooldr
opout
s
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
125.
I
fas
a
wmi
l
lc
r
e
a
t
e
st
oomuc
hai
rpol
l
ut
i
on,
a
.
i
nt
e
r
f
e
r
e
nc
ebyt
hegove
r
nme
ntwi
l
ls
ur
e
l
ymaket
hema
t
t
e
rwor
s
e
.
b.
as
e
ns
eofs
oc
i
alr
e
s
pons
i
bi
l
i
t
ywi
l
lc
aus
et
heowne
r
soft
hemi
l
lt
or
e
duc
epol
l
ut
i
on.
c
.
t
hegove
r
nme
ntc
anr
ai
s
ee
c
onomi
cwe
l
l
be
i
ngbypr
ovi
di
nghe
al
t
hc
ar
et
ot
hos
eaffe
c
t
e
dbyt
he
pol
l
ut
i
on.
d.
t
hegove
r
nme
ntc
anr
ai
s
ee
c
onomi
cwe
l
l
be
i
ngt
hr
oughe
nvi
r
onme
nt
alr
e
gul
a
t
i
on.
ANSWER:
d.
t
hegove
r
nme
ntc
anr
ai
s
ee
c
onomi
cwe
l
l
be
i
ngt
hr
oughe
nvi
r
onme
nt
alr
e
gul
a
t
i
on.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
126.
Whe
nas
i
ngl
ee
nt
i
t
yhast
heabi
l
i
t
yt
oi
nflue
nc
emar
ke
tpr
i
c
e
s
,
t
he
r
ei
s
a
.
c
ompe
t
i
t
i
on.
b.
mar
ke
tpowe
r
.
c
.
e
ffic
i
e
nc
y
.
d.
pr
oduc
t
i
vi
t
y
.
ANSWER:
b.
mar
ke
tpowe
r
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
127.
Mar
ke
tpowe
rr
e
f
e
r
st
ot
he
a
.
powe
rofas
i
ngl
epe
r
s
onorgr
oupt
oi
nflue
nc
emar
ke
tpr
i
c
e
s
.
b.
abi
l
i
t
yofape
r
s
onorgr
oupofpe
opl
et
os
uc
c
e
s
s
f
ul
l
ymar
ke
tne
w pr
oduc
t
s
.
c
.
powe
roft
hegove
r
nme
ntt
or
e
gul
a
t
eamar
ke
t
.
d.
r
e
l
a
t
i
vei
mpor
t
anc
eofamar
ke
tt
ot
heove
r
al
le
c
onomy
.
ANSWER:
a
.
powe
rofas
i
ngl
epe
r
s
onorgr
oupt
oi
nflue
nc
emar
ke
tpr
i
c
e
s
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
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Chapter 1/Ten Principles of Economics  16
128.
Ane
xampl
eofamonopol
ywoul
dbe
a
.
aj
e
we
l
r
ys
t
or
ei
nMi
ami
,Fl
or
i
da
.
b.
as
ouve
ni
rs
hopi
nCanc
un,Me
xi
c
o.
c
.
ane
l
e
c
t
r
i
cc
ompa
nyi
nDe
l
i
ght
,Ar
kans
as
.
d.
adoc
t
ori
nDal
l
as
,
Te
xas
.
ANSWER:
c
.
ane
l
e
c
t
r
i
cc
ompa
nyi
nDe
l
i
ght
,Ar
kans
as
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
129.
Whi
c
hoft
hef
ol
l
owi
ngbus
i
ne
s
s
e
smos
tl
i
ke
l
yhasmar
ke
tpowe
r
?
a
.
af
ur
ni
t
ur
es
t
or
ei
nGr
e
e
ns
bor
o,Nor
t
hCar
ol
i
na
.
b.
avi
ne
yar
di
nt
heNapaVal
l
e
yofCal
i
f
or
ni
a
.
c
.
amapl
es
ugarc
andys
t
or
ei
nBur
l
i
ngt
on,Ve
r
mont
.
d.
ahos
pi
t
ali
nKe
ar
ne
y
,Ne
br
as
ka
.
ANSWER:
d.
ahos
pi
t
ali
nKe
ar
ne
y
,Ne
br
as
ka
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
130.
Whi
c
hi
st
hemos
tc
or
r
e
c
ts
t
a
t
e
me
ntaboutt
hei
nvi
s
i
bl
ehand?
a
.
Thei
nvi
s
i
bl
ehandal
wa
yse
ns
ur
e
sbot
he
qui
t
yande
ffic
i
e
nc
y
.
b.
Thei
nvi
s
i
bl
ehandc
annote
ns
ur
ee
i
t
he
re
qui
t
yore
ffic
i
e
nc
y
.
c
.
Thei
nvi
s
i
bl
ehandi
smor
ee
ffe
c
t
i
vea
te
ns
ur
i
nge
ffic
i
e
nc
yt
hani
ti
sa
te
ns
ur
i
nge
qui
t
y
.
d.
Thei
nvi
s
i
bl
ehandi
smor
ee
ffe
c
t
i
vea
te
ns
ur
i
nge
qui
t
yt
hani
ti
sa
te
ns
ur
i
nge
ffic
i
e
nc
y
.
ANSWER:
c
.
Thei
nvi
s
i
bl
ehandi
smor
ee
ffe
c
t
i
vea
te
ns
ur
i
nge
ffic
i
e
nc
yt
hani
ti
sa
te
ns
ur
i
nge
qui
t
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
3
131.
Ac
c
or
di
ngt
oAdam Smi
t
h,t
hes
uc
c
e
s
sofde
c
e
nt
r
al
i
ze
dmar
ke
te
c
onomi
e
si
spr
i
mar
i
l
yduet
o
a
.
t
hebas
i
cbe
ne
vol
e
nc
eofs
oc
i
e
t
y
.
b.
s
oc
i
e
t
y’
sj
us
t
i
c
e(
l
e
gal
)s
ys
t
e
m.
c
.
i
ndi
vi
dual
s
’s
e
l
f
i
nt
e
r
e
s
t
.
d.
bas
i
chumans
ur
vi
vali
ns
t
i
nc
t
s
.
ANSWER:
c
.
i
ndi
vi
dual
s
’s
e
l
f
i
nt
e
r
e
s
t
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
132.
Thes
e
l
f
i
nt
e
r
e
s
toft
hepar
t
i
c
i
pant
si
nane
c
onomyi
sgui
de
di
nt
opr
omot
i
ngge
ne
r
ale
c
onomi
cs
e
l
f
i
nt
e
r
e
s
tby
a
.
t
hei
nvi
s
i
bl
ehand.
b.
mar
ke
tpowe
r
.
c
.
gove
r
nme
nti
nt
e
r
ve
nt
i
on.
d.
pr
ope
r
t
yr
i
ght
s
.
ANSWER:
a
.
t
hei
nvi
s
i
bl
ehand.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
1
133.
I
nt
heUni
t
e
dSt
a
t
e
s
,
hi
ghe
ri
nc
omet
axr
a
t
e
sonr
i
c
hpe
opl
ec
oul
dbej
us
t
i
fie
dont
hebas
i
sof
a
.
mar
ke
te
ffic
i
e
nc
y
.
b.
t
hel
ac
kofot
he
rs
our
c
e
sofgove
r
nme
ntr
e
ve
nue
.
c
.
e
qui
t
yf
ors
oc
i
e
t
y
.
d.
gove
r
nme
ntbi
asa
gai
ns
tt
hewe
al
t
hy
.
ANSWER:
c
.
e
qui
t
yf
ors
oc
i
e
t
y
.
TYPE:
M SECTI
ON:
2DI
FFI
CULTY:
2
134.
Thepr
i
mar
yde
t
e
r
mi
nantofac
ount
r
y’
ss
t
andar
dofl
i
vi
ngi
s
a
.
t
hea
bi
l
i
t
yt
or
e
duc
ef
or
e
i
gnc
ompe
t
i
t
i
on.
b.
i
t
sabi
l
i
t
yt
opr
oduc
egoodsands
e
r
vi
c
e
s
.
c
.
t
het
ot
als
uppl
yofmone
yi
nt
hee
c
onomy
.
d.
t
hea
ve
r
a
gea
geoft
hec
ount
r
y’
sl
aborf
or
c
e
.
ANSWER:
b.
i
t
sabi
l
i
t
yt
opr
oduc
egoodsands
e
r
vi
c
e
s
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
135.
I
n2000t
hea
ve
r
a
geAme
r
i
c
anhadani
nc
omeofabout
a
.
$34,
000
.
b.
$29,
000
.
c
.
$20,
000
.
d.
$15,
000
.
ANSWER:
a
.
$34,
000
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
136.
I
nt
heUni
t
e
dSt
a
t
e
s
,
i
nc
ome
sha
vehi
s
t
or
i
c
al
l
ygr
owna
bout2
% pe
rye
ar
.Att
hi
sr
a
t
ei
nc
ome
swi
l
ldoubl
ee
ve
r
y
a
.
10ye
ar
s
.
b.
25ye
ar
s
.
c
.
35ye
ar
s
.
d.
50ye
ar
s
.
ANSWER:
c
.
35ye
ar
s
.
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Chapter 1/Ten Principles of Economics  17
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
137.
Thei
nc
omeofat
ypi
c
alwor
ke
ri
nac
ount
r
yi
smos
tc
l
os
e
l
yl
i
nke
dt
owhi
c
hoft
hef
ol
l
owi
ng?
a
.
popul
a
t
i
on
b.
pr
oduc
t
i
vi
t
y
c
.
t
henumbe
rofl
aboruni
ons
d.
gove
r
nme
ntpol
i
c
i
e
s
ANSWER:
b.
pr
oduc
t
i
vi
t
y
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
138.
I
ft
hea
ve
r
a
gei
nc
omeofanAus
t
r
al
i
ani
shi
ghe
rt
hant
hea
ve
r
a
gei
nc
omeofaRus
s
i
an,i
ti
smos
tl
i
ke
l
ybe
c
aus
e
a
.
pr
oduc
t
i
vi
t
yi
shi
ghe
ri
nAus
t
r
al
i
at
hani
nRus
s
i
a
.
b.
Aus
t
r
al
i
ahasamor
ei
ndus
t
r
i
ale
c
onomyt
hanRus
s
i
a
.
c
.
t
he
r
ei
smor
ec
ompe
t
i
t
i
oni
nAus
t
r
al
i
at
hani
nRus
s
i
a
.
d.
l
aboruni
onsar
emor
ea
ggr
e
s
s
i
vei
nAus
t
r
al
i
at
ha
ni
nRus
s
i
a
.
ANSWER:
a
.
pr
oduc
t
i
vi
t
yi
shi
ghe
ri
nAus
t
r
al
i
at
hani
nRus
s
i
a
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
3
139.
Suppos
et
ha
tt
hea
ve
r
a
gei
nc
omeofaKe
nyani
shi
ghe
rt
hant
hea
ve
r
a
gei
nc
omeofaSout
hAf
r
i
c
an.
Youmi
ght
c
onc
l
udet
ha
t
a
.
Sout
hAf
r
i
c
anfir
msar
ef
ac
e
dwi
t
hs
t
r
i
c
t
e
rgove
r
nme
ntr
e
gul
a
t
i
onst
hanKe
nyanfir
ms
.
b.
t
ot
ali
nc
omei
sdi
vi
de
damongf
e
we
rwor
ke
r
si
nKe
nyas
i
nc
ei
thasas
mal
l
e
rl
aborf
or
c
et
hanSout
h
Af
r
i
c
a
.
c
.
Ke
nya
’
sc
l
i
ma
t
eal
l
owsf
orl
onge
rgr
owi
ngs
e
as
onsandt
he
r
e
f
or
eKe
nyac
anpr
oduc
el
ar
gequant
i
t
i
e
sof
gr
ai
n.
d.
pr
oduc
t
i
vi
t
yi
nKe
nyai
shi
ghe
rt
hani
nSout
hAf
r
i
c
a
.
ANSWER:
d.
pr
oduc
t
i
vi
t
yi
nKe
nyai
shi
ghe
rt
hani
nSout
hAf
r
i
c
a
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
3
140.
At
ypi
c
alwor
ke
ri
nI
t
al
yc
anpr
oduc
e24uni
t
sofpr
oduc
ti
nan8hourda
y
,whe
r
eat
ypi
c
alwor
ke
ri
nPol
and
pr
oduc
e
s25uni
t
sofpr
oduc
ti
na10hourda
y
.Wec
anc
onc
l
udet
ha
t
a
.
wor
ke
rpr
oduc
t
i
vi
t
yi
nPol
andi
shi
ghe
rt
hani
nI
t
al
y
.
b.
t
hes
t
andar
dofl
i
vi
ngwi
l
lbehi
ghe
ri
nI
t
al
yt
hani
nPol
and.
c
.
pr
oduc
t
i
vi
t
yf
ort
hePol
i
s
hwor
ke
ri
s3uni
t
spe
rhourand21/2uni
t
spe
rhourf
ort
heI
t
al
i
anwor
ke
r
.
d.
t
he
r
ewi
l
lbenodi
ffe
r
e
nc
ebe
t
we
e
nt
hes
t
andar
dofl
i
vi
ngi
nI
t
a
l
yandPol
and.
ANSWER:
b.
t
hes
t
andar
dofl
i
vi
ngwi
l
lbehi
ghe
ri
nI
t
al
yt
hani
nPol
and.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
141.
A wor
ke
ri
nBa
ngl
ade
s
hc
ane
ar
n$1pe
rda
ymaki
ngc
ot
t
onc
l
ot
honahandl
oom.A wor
ke
ri
nt
heUni
t
e
dSt
a
t
e
s
c
ane
ar
n$100pe
rda
ymaki
ngc
ot
t
onc
l
ot
hwi
t
hame
c
hani
c
all
oom.Wha
ta
c
c
ount
sf
ort
hedi
ffe
r
e
nc
ei
nwa
ge
s
?
a
.
U.
S.t
e
xt
i
l
ewor
ke
r
sbe
l
ongt
oauni
on.
b.
The
r
ei
sl
i
t
t
l
ede
mandf
orc
ot
t
onc
l
ot
hi
nBangl
a
de
s
handgr
e
a
tde
mandi
nt
heU.
S.
c
.
Labori
smor
epr
oduc
t
i
vemaki
ngc
ot
t
onc
l
ot
hwi
t
hame
c
hani
c
all
oom t
hanwi
t
hahandl
oom.
d.
Bangl
ade
s
hhasal
owwa
gepol
i
c
yt
omakei
t
st
e
xt
i
l
ei
ndus
t
r
ymor
ec
ompe
t
i
t
i
vei
nwor
l
dmar
ke
t
s
.
ANSWER:
c
.
Labori
smor
epr
oduc
t
i
vemaki
ngc
ot
t
onc
l
ot
hwi
t
hame
c
hani
c
all
oom t
hanwi
t
hahandl
oom.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
3
142.
Ove
rt
hepas
tc
e
nt
ur
y
,
t
hea
ve
r
a
gei
nc
omei
nt
heUni
t
e
dSt
a
t
e
shasr
i
s
e
n
a
.
t
wof
ol
d.
b.
five
f
ol
d.
c
.
e
i
ght
f
ol
d.
d.
t
e
nf
ol
d.
ANSWER:
c
.
e
i
ght
f
ol
d.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
143.
I
nt
heUni
t
e
dSt
a
t
e
s
,
i
nc
ome
sha
vehi
s
t
or
i
c
al
l
ygr
own
a
.
about10pe
r
c
e
ntpe
rye
ar
.
b.
about5pe
r
c
e
ntpe
rye
ar
.
c
.
about2pe
r
c
e
ntpe
rye
ar
.
d.
about0.
5pe
r
c
e
ntpe
rye
ar
.
ANSWER:
c
.
about2pe
r
c
e
ntpe
rye
ar
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
144.
Al
mos
tal
lvar
i
a
t
i
oni
nl
i
vi
ngs
t
andar
dsi
sa
t
t
r
i
but
abl
et
odi
ffe
r
e
nc
e
si
nc
ount
r
i
e
s
’
a
.
popul
a
t
i
ongr
owt
hr
a
t
e
s
.
b.
e
ndowme
nt
sofna
t
ur
alr
e
s
our
c
e
s
.
c
.
na
t
i
onalgove
r
nme
ntbudge
t
s
.
d.
pr
oduc
t
i
vi
t
y
.
ANSWER:
d.
pr
oduc
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
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Chapter 1/Ten Principles of Economics  18
145.
Pr
oduc
t
i
vi
t
yi
sde
fine
dast
he
a
.
amountofgoodsands
e
r
vi
c
e
spr
oduc
e
df
r
om e
ac
hhourofawor
ke
r
’
st
i
me
.
b.
numbe
rofwor
ke
r
sr
e
qui
r
e
dt
opr
oduc
eagi
ve
namountofgoodsands
e
r
vi
c
e
s
.
c
.
amountofl
aborwhi
c
hc
anbes
a
ve
dbyr
e
pl
ac
i
ngwor
ke
r
swi
t
hmac
hi
ne
s
.
d.
ac
t
ualamountofe
ffor
twor
ke
r
sputi
nt
oanhourofwor
ki
ngt
i
me
.
ANSWER:
a
.
amountofgoodsands
e
r
vi
c
e
spr
oduc
e
df
r
om e
ac
hhourofawor
ke
r
’
st
i
me
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
146.
Theamountofgoodsands
e
r
vi
c
e
spr
oduc
e
df
r
om e
ac
hhourofawor
ke
r
’
st
i
mei
sc
al
l
e
d
a
.
t
ot
alout
put
.
b.
pr
oduc
t
i
vi
t
y
.
c
.
mar
gi
nalpr
oduc
t
.
d.
e
ffic
i
e
nc
y
.
ANSWER:
b.
pr
oduc
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
147.
A di
r
e
c
torpos
i
t
i
ver
e
l
a
t
i
ons
hi
pe
xi
s
t
sbe
t
we
e
nac
ount
r
y’
s
a
.
pr
oduc
t
i
vi
t
yandi
t
ss
t
andar
dofl
i
vi
ng.
b.
gove
r
nme
nts
pe
ndi
ngandi
t
st
axr
a
t
e
s
.
c
.
t
ot
alpopul
a
t
i
onandi
t
spe
r
c
api
t
ai
nc
ome
.
d.
pr
i
c
e
sf
ori
t
sgoodsands
e
r
vi
c
e
sandi
t
se
xpor
t
s
.
ANSWER:
a
.
pr
oduc
t
i
vi
t
yandi
t
ss
t
andar
dofl
i
vi
ng.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
148.
Thehi
s
t
or
i
c
alr
i
s
ei
nl
i
vi
ngs
t
andar
dsofAme
r
i
c
anwor
ke
r
si
spr
i
mar
i
l
yar
e
s
ul
tof
a
.
t
hei
nflue
nc
eofl
aboruni
ons
.
b.
t
ar
i
ffpr
ot
e
c
t
i
oni
mpos
e
dbyt
heU.
S.gove
r
nme
nt
.
c
.
t
hee
nac
t
me
ntofmi
ni
mumwa
gel
a
ws
.
d.
t
her
i
s
ei
nl
aborpr
oduc
t
i
vi
t
y
.
ANSWER:
d.
t
her
i
s
ei
nl
aborpr
oduc
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
149.
I
ft
hegove
r
nme
ntwant
e
dt
oe
nac
tapol
i
c
yt
oi
nc
r
e
as
el
i
vi
ngs
t
andar
dsi
nt
hec
ount
r
y
,i
tmi
ght
a
.
al
l
ow c
or
por
a
t
et
axwr
i
t
e
offsf
ormone
ys
pe
ntonwor
ke
rs
af
e
t
y
.
b.
makei
tmor
edi
ffic
ul
tt
or
e
c
e
i
veune
mpl
oyme
ntbe
ne
fit
s
.
c
.
i
nc
r
e
as
ee
duc
a
t
i
onaloppor
t
uni
t
i
e
sf
orwor
ke
r
s
.
d.
pr
ohi
bi
tuni
onsf
r
om or
gani
zi
ng.
ANSWER:
c
.
i
nc
r
e
as
ee
duc
a
t
i
onaloppor
t
uni
t
i
e
sf
orwor
ke
r
s
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
150.
Thes
l
ow gr
owt
hofU.
S.i
nc
ome
sdur
i
ngt
he1970sand1980sc
anbe
s
tbee
xpl
ai
ne
dby
a
.
uns
t
abl
ee
c
onomi
cc
ondi
t
i
onsi
nEas
t
e
r
nEur
ope
.
b.
i
nc
r
e
as
e
dc
ompe
t
i
t
i
onf
r
om abr
oad.
c
.
ade
c
l
i
nei
nt
her
a
t
eofi
nc
r
e
as
ei
nU.
S.
pr
oduc
t
i
vi
t
y
.
d.
as
t
r
ongU.
S.
dol
l
ara
br
oad,
hur
t
i
ngU.
S.e
xpor
t
s
.
ANSWER:
c
.
ade
c
l
i
nei
nt
her
a
t
eofi
nc
r
e
as
ei
nU.
S.
pr
oduc
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
151.
Toi
mpr
ovel
i
vi
ngs
t
andar
ds
,pol
i
c
ymake
r
ss
houl
d
a
.
i
mpos
er
e
s
t
r
i
c
t
i
ononf
or
e
i
gnc
ompe
t
i
t
i
on.
b.
f
or
mul
a
t
epol
i
c
i
e
sde
s
i
gne
dt
oi
nc
r
e
as
epr
oduc
t
i
vi
t
y
.
c
.
i
mpos
et
oughe
ri
mmi
gr
a
t
i
onpol
i
c
i
e
s
.
d.
pr
ovi
det
axbr
e
aksf
ort
hemi
ddl
ec
l
as
s
.
ANSWER:
b.
f
or
mul
a
t
epol
i
c
i
e
sde
s
i
gne
dt
oi
nc
r
e
as
epr
oduc
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
152.
Toi
nc
r
e
as
el
i
vi
ngs
t
andar
ds
,publ
i
cpol
i
c
ys
houl
d
a
.
e
ns
ur
et
ha
twor
ke
r
sar
ewe
l
le
duc
a
t
e
dandha
vet
hene
c
e
s
s
ar
yt
ool
sandt
e
c
hnol
ogy
.
b.
makeune
mpl
oyme
ntbe
ne
fit
smor
el
i
be
r
al
.
c
.
movewor
ke
r
si
nt
oj
obsdi
r
e
c
t
l
yf
r
om hi
ghs
c
hool
.
d.
e
ns
ur
et
ha
twor
ke
r
sha
veac
c
e
s
st
ouni
onme
mbe
r
s
hi
pandbe
ne
fit
s
.
ANSWER:
a
.
e
ns
ur
et
ha
twor
ke
r
sar
ewe
l
le
duc
a
t
e
dandha
vet
hene
c
e
s
s
ar
yt
ool
sandt
e
c
hnol
ogy
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
153.
Tor
ai
s
epr
oduc
t
i
vi
t
y
,
pol
i
c
ymake
r
sc
oul
d
a
.
i
nc
r
e
as
es
pe
ndi
ngone
duc
a
t
i
on.
b.
pr
ovi
det
axc
r
e
di
t
st
ofir
msf
orc
api
t
ali
mpr
ove
me
nt
s
.
c
.
f
undr
e
s
e
ar
c
handde
ve
l
opme
nt
.
d.
Bot
haandcar
ec
or
r
e
c
t
.
e
.
Al
loft
heabovear
ec
or
r
e
c
t
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  19
ANSWER:
e
.
Al
loft
heabovear
ec
or
r
e
c
t
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
154.
Ani
nc
r
e
as
ei
nt
heove
r
al
ll
e
ve
lofpr
i
c
e
si
na
ne
c
onomyi
sr
e
f
e
r
r
e
dt
oas
a
.
e
c
onomi
cgr
owt
h.
b.
i
nfla
t
i
on.
c
.
mone
t
ar
ypol
i
c
y
.
d.
s
uppl
ys
hoc
ks
ANSWER:
b.
i
nfla
t
i
on.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
155.
I
nfla
t
i
oni
sde
fine
das
a
.
ape
r
i
odofr
i
s
i
ngpr
oduc
t
i
vi
t
yi
nt
hee
c
onomy
.
b.
ape
r
i
odofr
i
s
i
ngi
nc
omei
nt
hee
c
onomy
.
c
.
ani
nc
r
e
as
ei
nt
heove
r
al
ll
e
ve
lofout
puti
nt
hee
c
onomy
.
d.
ani
nc
r
e
as
ei
nt
heove
r
al
ll
e
ve
lofpr
i
c
e
si
nt
hee
c
onomy
.
ANSWER:
d.
ani
nc
r
e
as
ei
nt
heove
r
al
ll
e
ve
lofpr
i
c
e
si
nt
hee
c
onomy
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
156.
Whe
nt
heGe
r
mangove
r
nme
nti
nc
r
e
as
e
dt
hequant
i
t
yofmone
yi
nt
heGe
r
mane
c
onomyi
nt
he1920s
,
a
.
Ge
r
manye
xpe
r
i
e
nc
e
dhype
r
i
nfla
t
i
on.
b.
manype
opl
ei
nGe
r
manybe
c
amer
i
c
h.
c
.
une
mpl
oyme
nti
nc
r
e
as
e
d.
d.
Ge
r
manywasabl
et
or
e
pa
yal
li
t
sf
or
e
i
gnde
bt
s
.
ANSWER:
a
.
Ge
r
manye
xpe
r
i
e
nc
e
dhype
r
i
nfla
t
i
on.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
157.
Dur
i
ngt
hee
ar
l
y1920si
nGe
r
many
,
pr
i
c
e
s
a
.
doubl
e
dannual
l
y
.
b.
doubl
e
dmont
hl
y
.
c
.
t
r
i
pl
e
dmont
hl
y
.
d.
t
r
i
pl
e
dannual
l
y
.
ANSWER:
c
.
t
r
i
pl
e
dmont
hl
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
158.
Oneoft
hewor
s
te
pi
s
ode
sofi
nfla
t
i
onoc
c
ur
r
e
di
n
a
.
t
heUni
t
e
dSt
a
t
e
si
nt
he1960
’
s
.
b.
Ar
ge
nt
i
nai
nt
he1950
’
s
.
c
.
Rus
s
i
ai
nt
he1930’
s
.
d.
Ge
r
manyi
nt
he1920’
s
.
ANSWER:
d.
Ge
r
manyi
nt
he1920s
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
159.
I
nt
heUni
t
e
dSt
a
t
e
s
,
t
heove
r
al
ll
e
ve
lofpr
i
c
e
smor
et
handoubl
e
ddur
i
ngt
he
a
.
1950s
.
b.
1960s
.
c
.
1970s
.
d.
1980s
.
ANSWER:
c
.
1970s
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
160.
Lar
georpe
r
s
i
s
t
e
nti
nfla
t
i
oni
sal
mos
tal
wa
ysc
aus
e
dby
a
.
ani
nc
r
e
as
ei
nde
mandf
ordome
s
t
i
cpr
oduc
t
i
on.
b.
gr
owt
hi
nt
hequant
i
t
yofmone
y
.
c
.
f
or
e
i
gnc
ompe
t
i
t
i
on.
d.
hi
ghe
rwor
ke
rpr
oduc
t
i
vi
t
y
.
ANSWER:
b.
gr
owt
hi
nt
hequant
i
t
yofmone
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
161.
Pr
e
s
i
de
ntGe
r
al
dFor
dr
e
f
e
r
r
e
dt
oi
nfla
t
i
onas
a
.
t
hena
t
i
onalt
hi
e
f
.
b.
abl
i
ghtonourna
t
i
on’
se
c
onomy
.
c
.
publ
i
ce
ne
mynumbe
rone
.
d.
at
or
pe
dot
ha
tc
oul
ds
i
nkoure
c
onomy
.
ANSWER:
c
.
publ
i
ce
ne
mynumbe
rone
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
162.
Thepe
r
s
onwhor
e
f
e
r
r
e
dt
oi
nfla
t
i
onaspubl
i
ce
ne
mynumbe
ronewas
a
.
Ge
r
al
dFor
d.
b.
Al
anGr
e
e
ns
pan.
c
.
Ri
c
har
dNi
x
on.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  20
d.
J
ohnF
.Ke
nne
dy
.
ANSWER:
a
.
Ge
r
al
dFor
d.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
163.
I
nt
he1990s
,i
nfla
t
i
oni
nt
heUni
t
e
dSt
a
t
e
s
a
.
wasal
mos
tze
r
o.
b.
wasabout3pe
r
c
e
ntpe
rye
ar
.
c
.
appr
oac
he
ddoubl
edi
gi
t
s
.
d.
wasc
aus
e
dbyt
oomuc
hc
ons
ume
rs
pe
ndi
ng.
ANSWER:
b.
wasabout3pe
r
c
e
ntpe
rye
ar
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
164.
I
nfla
t
i
onc
aus
e
s
a
.
i
nc
ome
st
of
al
l
.
b.
pr
oduc
t
i
vi
t
yt
oi
nc
r
e
as
e
.
c
.
t
hegove
r
nme
ntt
ol
owe
rt
ax
e
s
.
d.
t
heval
ueofmone
yt
of
al
l
.
ANSWER:
d.
t
heval
ueofmone
yt
of
al
l
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
165.
Whi
c
hoft
hef
ol
l
owi
ngi
st
hemos
tc
or
r
e
c
ts
t
a
t
e
me
nta
boutt
her
e
l
a
t
i
ons
hi
pbe
t
we
e
ni
nfla
t
i
onandune
mpl
oyme
nt
?
a
.
I
nt
hes
hor
tr
un,r
e
duc
i
ngi
nfla
t
i
oni
sas
s
oc
i
a
t
e
dwi
t
hf
al
l
i
ngune
mpl
oyme
nt
.
b.
I
nt
hes
hor
tr
un,r
e
duc
i
ngi
nfla
t
i
oni
sas
s
oc
i
a
t
e
dwi
t
hr
i
s
i
ngune
mpl
oyme
nt
.
c
.
I
nt
hel
ongr
un,r
e
duc
i
ngi
nfla
t
i
oni
sas
s
oc
i
a
t
e
dwi
t
hf
al
l
i
ngune
mpl
oyme
nt
.
d.
I
nt
hel
ongr
un,r
e
duc
i
ngi
nfla
t
i
oni
sas
s
oc
i
a
t
e
dwi
t
hr
i
s
i
ngune
mpl
oyme
nt
.
ANSWER:
b.
I
nt
hes
hor
tr
un,r
e
duc
i
ngi
nfla
t
i
oni
sas
s
oc
i
a
t
e
dwi
t
hr
i
s
i
ngune
mpl
oyme
nt
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
3
166.
Thec
ur
vet
ha
ti
l
l
us
t
r
a
t
e
st
het
r
ade
offbe
t
we
e
ni
nfla
t
i
onandune
mpl
oyme
nti
sc
al
l
e
dt
he
a
.
Laffe
rc
ur
ve
.
b.
Lor
e
nzc
ur
ve
.
c
.
Phi
l
l
i
psc
ur
ve
.
d.
De
mandc
ur
ve
.
ANSWER:
c
.
Phi
l
l
i
psc
ur
ve
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
167.
I
nt
hes
hor
tr
un,t
hePhi
l
l
i
psc
ur
vei
l
l
us
t
r
a
t
e
s
a
.
t
het
r
ade
offbe
t
we
e
ni
nfla
t
i
onandune
mpl
oyme
nt
.
b.
t
het
r
ade
offbe
t
we
e
ne
qui
t
yande
ffic
i
e
nc
y
.
c
.
l
aborpr
oduc
t
i
vi
t
yi
nane
c
onomy
.
d.
t
hel
e
ve
lofgove
r
nme
nti
nt
e
r
ve
nt
i
oni
namar
ke
te
c
onomy
.
ANSWER:
a
.
t
het
r
ade
offbe
t
we
e
ni
nfla
t
i
onandune
mpl
oyme
nt
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
168.
Al
t
hought
hePhi
l
l
i
psc
ur
vei
sc
ont
r
ove
r
s
i
al
,mos
te
c
onomi
s
t
sbe
l
i
e
vet
ha
t
a
.
s
oc
i
e
t
yf
ac
e
sat
r
ade
offbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
oni
nt
hes
hor
tr
unonl
y
.
b.
s
oc
i
e
t
yf
ac
e
sat
r
ade
offbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
oni
nt
hel
ongr
unonl
y
.
c
.
not
r
ade
offe
xi
s
t
sbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
on.
d.
s
oc
i
e
t
yf
ac
e
sac
ont
i
nuoust
r
ade
offbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
on.
ANSWER:
a
.
s
oc
i
e
t
yf
ac
e
sat
r
ade
offbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
oni
nt
hes
hor
tr
unonl
y
.
TYPE:
M SECTI
ON:
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CULTY:
3
169.
Pol
i
c
ymake
r
sc
ani
nflue
nc
et
hec
ombi
na
t
i
onofi
nfla
t
i
onandune
mpl
oyme
ntt
hee
c
onomye
xpe
r
i
e
nc
e
sbyadj
us
t
i
ng
e
ac
hoft
hef
ol
l
owi
ngEXCEPT
a
.
t
ax
e
s
.
b.
gove
r
nme
nts
pe
ndi
ng.
c
.
t
hemone
ys
uppl
y
.
d.
mar
ke
tpr
i
c
e
s
.
ANSWER:
d.
mar
ke
tpr
i
c
e
s
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
170.
I
nt
hee
ar
l
y1980
s
,
U.
S.e
c
onomi
cpol
i
c
ywasdi
r
e
c
t
e
dt
owar
dr
e
duc
i
ngi
nfla
t
i
on.Wha
twoul
dyouas
s
umeabout
i
nfla
t
i
onandune
mpl
oyme
ntdur
i
ngt
hi
spe
r
i
od?
a
.
I
nfla
t
i
onf
e
l
landune
mpl
oyme
ntf
e
l
l
.
b.
I
nfla
t
i
onandune
mpl
oyme
ntwe
r
ebot
hunaffe
c
t
e
d.
c
.
I
nfla
t
i
onf
e
l
landune
mpl
oyme
nti
nc
r
e
as
e
d.
d.
I
nfla
t
i
onf
e
l
landune
mpl
oyme
ntwasunc
hange
d.
ANSWER:
c
.
I
nfla
t
i
onf
e
l
landune
mpl
oyme
nti
nc
r
e
as
e
d.
TYPE:
M SECTI
ON:
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Chapter 1/Ten Principles of Economics  21
171.
Be
t
we
e
n1929and1933,
t
heU.
S.
e
c
onomywe
ntf
r
om as
i
t
ua
t
i
onoff
ul
le
mpl
oyme
ntt
ooneof25pe
r
c
e
nt
une
mpl
oyme
nt
.Wha
tdoyouas
s
umehappe
ne
dt
opr
i
c
e
s
?
a
.
Pr
i
c
e
swe
r
eunaffe
c
t
e
d.
b.
Pr
i
c
e
sf
e
l
last
hee
c
onomye
xpe
r
i
e
nc
e
dde
fla
t
i
on.
c
.
Pr
i
c
e
sr
os
east
hee
c
onomye
xpe
r
i
e
nc
e
di
nfla
t
i
on.
d.
I
ti
si
mpos
s
i
bl
et
ogue
s
swha
thappe
ne
dt
opr
i
c
e
sf
r
om t
hei
nf
or
ma
t
i
ongi
ve
n.
ANSWER:
b.
Pr
i
c
e
sf
e
l
last
hee
c
onomye
xpe
r
i
e
nc
e
dde
fla
t
i
on.
TYPE:
M SECTI
ON:
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FFI
CULTY:
3
172.
ThePhi
l
l
i
psc
ur
vei
si
mpor
t
antf
orunde
r
s
t
andi
ng
a
.
t
hebus
i
ne
s
sc
yc
l
e
.
b.
s
uppl
yandde
mand.
c
.
gove
r
nme
nts
pe
ndi
ng.
d.
mone
ys
uppl
yc
hange
s
.
ANSWER:
a
.
t
hebus
i
ne
s
sc
yc
l
e
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
173.
Thebus
i
ne
s
sc
yc
l
ei
st
he
a
.
r
e
l
a
t
i
ons
hi
pbe
t
we
e
nune
mpl
oyme
ntandi
nfla
t
i
on.
b.
i
r
r
e
gul
arfluc
t
ua
t
i
onsi
ne
c
onomi
cac
t
i
vi
t
y
.
c
.
pos
i
t
i
ver
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hequant
i
t
yofmone
yi
nane
c
onomyandi
nfla
t
i
on.
d.
pr
e
di
c
t
abl
ec
hange
si
ne
c
onomi
cac
t
i
vi
t
yduet
oc
hange
si
ngove
r
nme
nts
pe
ndi
ngandt
ax
e
s
.
ANSWER:
b.
i
r
r
e
gul
arfluc
t
ua
t
i
onsi
ne
c
onomi
cac
t
i
vi
t
y
.
TYPE:
M SECTI
ON:
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FFI
CULTY:
1
174.
Se
na
t
orSmi
t
hwant
st
oi
nc
r
e
as
et
ax
e
sonpe
opl
ewi
t
hhi
ghi
nc
ome
sandus
et
hemone
yt
ohe
l
pt
hepoor
.Se
na
t
or
J
one
sar
gue
st
ha
ts
uc
hat
axwi
l
ldi
s
c
our
a
ges
uc
c
e
s
s
f
ulpe
opl
ef
r
om wor
ki
ngandwi
l
lt
he
r
e
f
or
emakes
oc
i
e
t
ywor
s
eoff.
An
e
c
onomi
s
twoul
ds
a
yt
ha
t
a
.
wes
houl
da
gr
e
ewi
t
hSe
na
t
orSmi
t
h.
b.
wes
houl
da
gr
e
ewi
t
hSe
na
t
orJ
one
s
.
c
.
agoodde
c
i
s
i
onr
e
qui
r
e
st
ha
twer
e
c
ogni
zebot
hvi
e
wpoi
nt
s
.
d.
t
he
r
ear
enot
r
ade
offsbe
t
we
e
ne
qui
t
yande
ffic
i
e
nc
y
.
ANSWER:
c
.
agoodde
c
i
s
i
onr
e
qui
r
e
st
ha
twer
e
c
ogni
zebot
hvi
e
wpoi
nt
s
.
TYPE:
M SECTI
ON:
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FFI
CULTY:
2
175.
Maur
i
c
er
e
c
e
i
ve
s$100asabi
r
t
hda
ygi
f
t
.I
nde
c
i
di
nghow t
os
pe
ndt
hemone
y
,henar
r
owshi
sopt
i
onsdownt
o
f
ourc
hoi
c
e
s
,
Opt
i
onA,Opt
i
onB,
Opt
i
onCandOpt
i
onD.
Ea
c
hopt
i
onc
os
t
s$100.
Fi
nal
l
yhede
c
i
de
sonOpt
i
onB.The
oppor
t
uni
t
yc
os
tofOpt
i
onBi
s
a
.
t
heval
uet
ohi
m oft
heOpt
i
onhewoul
dha
vec
hos
e
ni
fOpt
i
onBwe
r
enota
vai
l
abl
e
.
b.
t
heval
uet
ohi
m ofOpt
i
onsA,CandDc
ombi
ne
d.
c
.
$300.
d.
$100.
ANSWER:
a:
t
heval
uet
ohi
m oft
heOpt
i
onhewoul
dha
vec
hos
e
ni
fOpt
i
onBwe
r
enota
vai
l
abl
e
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
176.
Af
ur
ni
t
ur
emake
rc
ur
r
e
nt
l
ypr
oduc
e
s100t
a
bl
e
spe
rwe
e
kands
e
l
l
st
he
mf
orapr
ofit
.Shei
sc
ons
i
de
r
i
ng
e
xpandi
nghe
rope
r
a
t
i
oni
nor
de
rt
omakemor
et
a
bl
e
s
.Shoul
ds
hee
xpand?
a
.
Ye
s
,be
c
aus
emaki
ngt
a
bl
e
si
spr
ofit
abl
e
.
b.
No,
be
c
aus
es
hema
ynotbeabl
et
os
e
l
lt
headdi
t
i
onalt
abl
e
s
.
c
.
I
tde
pe
ndsont
hemar
gi
nalc
os
tofpr
oduc
i
ngmor
et
a
bl
e
sandt
hemar
gi
nalr
e
ve
nues
hewi
l
le
ar
nf
r
om
s
e
l
l
i
ngmor
et
abl
e
s
.
d.
I
tde
pe
ndsont
hea
ve
r
a
gec
os
tofpr
oduc
i
ngmor
et
a
bl
e
sandt
hea
ve
r
a
ger
e
ve
nues
hewi
l
le
ar
nf
r
om
s
e
l
l
i
ngmor
et
abl
e
s
.
ANSWER:
c
.
I
tde
pe
ndsont
hemar
gi
nalc
os
tofpr
oduc
i
ngmor
et
a
bl
e
sandt
hemar
gi
nalr
e
ve
nues
hewi
l
le
a
r
nf
r
om
s
e
l
l
i
ngmor
et
abl
e
s
.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
177.
I
nt
hena
t
i
onofDi
c
t
a
t
or
l
and,
f
ar
me
r
st
r
adi
t
i
onal
l
yf
e
e
dgr
ai
nt
ot
he
i
rl
i
ve
s
t
oc
k.
Ce
nt
r
alpl
anne
r
s
,howe
ve
r
,
de
c
i
de
dt
oi
nc
r
e
as
et
hepr
i
c
eofgr
ai
nt
omakegr
ai
nf
a
r
me
r
shappyandt
or
e
duc
et
hepr
i
c
eofbr
e
adma
def
r
om t
ha
tgr
ai
n
t
omakec
i
t
ydwe
l
l
e
r
shappy
.Now t
hepr
i
c
eofbr
e
adi
sl
owe
rt
hant
hepr
i
c
eofgr
ai
n.Wemi
ghtnow e
xpe
c
t
a
.
f
ar
me
r
st
oc
ont
i
nuet
of
e
e
dgr
ai
nt
ot
he
i
rl
i
ve
s
t
oc
k.
b.
f
ar
me
r
st
os
t
ar
tf
e
e
di
ngbr
e
adt
ot
he
i
rl
i
ve
s
t
oc
k.
c
.
c
i
t
ydwe
l
l
e
r
st
os
t
ar
tbuyi
nggr
ai
nt
omakebr
e
adt
oe
a
t
.
d.
c
i
t
ydwe
l
l
e
r
st
os
t
ar
tbuyi
nggr
ai
nt
omakebr
e
adt
os
e
l
l
.
ANSWER:
b.
f
ar
me
r
st
os
t
ar
tf
e
e
di
ngbr
e
adt
ot
he
i
rl
i
ve
s
t
oc
k.
TYPE:
M SECTI
ON:
1DI
FFI
CULTY:
2
178.
Se
na
t
orSmar
ti
st
r
yi
ngt
oc
onvi
nc
ewor
ke
r
si
nhe
rdi
s
t
r
i
c
tt
ha
tt
r
adewi
t
hot
he
rc
ount
r
i
e
si
sbe
ne
fic
i
al
.Se
na
t
or
Smar
tar
gue
st
ha
tt
r
adec
anbebe
ne
fic
i
al
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Chapter 1/Ten Principles of Economics  22
a
.
onl
yi
fi
tal
l
owsust
oobt
ai
nt
hi
ngst
ha
twec
oul
dn’
tmakef
orour
s
e
l
ve
s
.
b.
be
c
aus
ei
tal
l
owss
pe
c
i
al
i
za
t
i
on,whi
c
hi
nc
r
e
as
e
st
ot
alout
put
.
c
.
t
ousi
fwec
angai
nandt
heot
he
r
si
nvol
ve
di
nt
het
r
adel
os
e
.
d.
i
nonl
yal
i
mi
t
e
dnumbe
rofc
i
r
c
ums
t
anc
e
sbe
c
aus
eot
he
r
sar
et
ypi
c
al
l
ys
e
l
f
i
nt
e
r
e
s
t
e
d.
ANSWER:
b.
be
c
aus
ei
tal
l
owss
pe
c
i
al
i
za
t
i
on,whi
c
hi
nc
r
e
as
e
st
ot
alout
put
.
TYPE:
M SECTI
ON:
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FFI
CULTY:
2
179.
Adam Smi
t
har
gue
dt
ha
ti
namar
ke
ts
ys
t
e
m,whe
npe
opl
eac
ti
nt
he
i
rowns
e
l
f
i
nt
e
r
e
s
t
,t
he
yt
ypi
c
al
l
y
a
.
he
l
ponl
yt
he
ms
e
l
ve
s
.
b.
har
m ot
he
r
s
.
c
.
he
l
pot
he
r
s
,butnotasmuc
hast
he
ywoul
dha
vei
ft
he
ywe
r
enots
e
l
f
i
nt
e
r
e
s
t
e
d.
d.
he
l
pot
he
r
se
ve
nmor
et
hanwhe
nt
he
ys
e
e
kt
ohe
l
pot
he
r
s
.
ANSWER:
d.
he
l
pot
he
r
se
ve
nmor
et
hanwhe
nt
he
ys
e
e
kt
ohe
l
pot
he
r
s
.
TYPE:
M SECTI
ON:
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FFI
CULTY:
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180.
Af
r
i
e
ndofyour
sas
ksyouwhymar
ke
tpr
i
c
e
sar
ebe
t
t
e
rt
hangove
r
nme
nt
de
t
e
r
mi
ne
dpr
i
c
e
s
.Yous
a
yt
ha
tmar
ke
t
de
t
e
r
mi
ne
dpr
i
c
e
sar
ebe
t
t
e
rbe
c
aus
et
he
yge
ne
r
al
l
yr
e
fle
c
t
a
.
t
heval
ueofagoodt
os
oc
i
e
t
y
,
butnott
hec
os
tofmaki
ngi
t
.
b.
t
hec
os
tofmaki
ngagoodt
os
oc
i
e
t
y
,
butnoti
t
sval
ue
.
c
.
bot
ht
heval
ueofagoodt
os
oc
i
e
t
yandt
hec
os
tofmaki
ngi
t
.
d.
ne
i
t
he
rt
heval
ueofagoodt
os
oc
i
e
t
ynort
hec
os
tofmaki
ngi
t
.
ANSWER:
c
.
bot
ht
heval
ueofagoodt
os
oc
i
e
t
yandt
hec
os
tofmaki
ngi
t
.
TYPE:
M SECTI
ON:
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1
181.
Whi
c
hoft
hef
ol
l
owi
ngi
sNOTt
r
ue
?
a
.
I
nt
hepr
e
s
e
nc
eofamar
ke
tf
ai
l
ur
e
,gove
r
nme
nta
c
t
i
onmi
ghtnoti
mpr
oveont
hemar
ke
tout
c
omebe
c
aus
e
s
ome
t
i
me
spubl
i
cpol
i
c
i
e
ss
i
mpl
yr
e
war
dt
hepol
i
t
i
c
al
l
ypowe
r
f
ul
.
b.
I
nt
hepr
e
s
e
nc
eofamar
ke
tf
ai
l
ur
e
,gove
r
nme
nta
c
t
i
onmi
ghtnoti
mpr
oveont
hemar
ke
tout
c
omebe
c
aus
e
s
omel
e
ade
r
sar
enotf
ul
l
yi
nf
or
me
da
boutt
hee
ffe
c
t
soft
he
i
rac
t
i
ons
.
c
.
I
nt
hepr
e
s
e
nc
eofamar
ke
tf
ai
l
ur
e
,gove
r
nme
nta
c
t
i
onc
ans
ome
t
i
me
si
mpr
oveont
hemar
ke
tout
c
ome
.
d.
I
nt
hepr
e
s
e
nc
eofamar
ke
tf
ai
l
ur
e
,gove
r
nme
nta
c
t
i
onwi
l
lal
wa
ysi
mpr
oveont
hemar
ke
tout
c
ome
.
ANSWER:
d.
I
nt
hepr
e
s
e
nc
eofamar
ke
tf
ai
l
ur
e
,gove
r
nme
ntac
t
i
onwi
l
lal
wa
ysi
mpr
oveont
hemar
ke
tout
c
ome
.
TYPE:
M SECTI
ON:
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FFI
CULTY:
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182.
Whi
c
hoft
hef
ol
l
owi
ngi
smos
tl
i
ke
l
yt
or
ai
s
et
hea
ve
r
a
ges
t
andar
dofl
i
vi
ngi
nt
heUni
t
e
dSt
a
t
e
s
?
a
.
ani
nc
r
e
as
ei
ni
nve
s
t
me
nti
nne
wc
api
t
al
b.
ac
ont
i
nua
t
i
onoft
hee
c
onomi
cpr
obl
e
mse
xpe
r
i
e
nc
e
dbyJ
apan,
wi
t
hwhom t
heUni
t
e
dSt
a
t
e
sc
ompe
t
e
s
i
nwor
l
dmar
ke
t
s
c
.
ani
nc
r
e
as
ei
nt
hemi
ni
mum l
e
galwa
ge
d.
s
hor
t
e
ni
ngt
hea
ve
r
a
gewor
kwe
e
k
ANSWER:
a
.
ani
nc
r
e
as
ei
ni
nve
s
t
me
nti
nne
wc
api
t
al
TYPE:
M SECTI
ON:
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FFI
CULTY:
1
183.
Dur
i
ngt
he1990s
,t
heUni
t
e
dKi
ngdom e
xpe
r
i
e
nc
e
dl
ow l
e
ve
l
sofi
nfla
t
i
onwhi
l
eTur
ke
ye
xpe
r
i
e
nc
e
dhi
ghl
e
ve
l
sof
i
nfla
t
i
on.Thedi
ffe
r
e
nc
ec
anbe
s
tbee
xpl
ai
ne
dbyt
hef
ac
tt
ha
t
a
.
t
heUni
t
e
dKi
ngdom i
smor
ei
ndus
t
r
i
al
i
ze
dt
hanTur
ke
y
.
b.
t
heUni
t
e
dKi
ngdom pr
i
nt
e
dmone
ya
tas
l
owe
rr
a
t
et
hanTur
ke
y
.
c
.
wor
ke
r
si
nt
heUni
t
e
dKi
ngdom ar
emor
epr
oduc
t
i
vet
hanwor
ke
r
si
nTur
ke
y
.
d.
t
he
r
ewe
r
emor
ec
as
e
sofmar
ke
tf
ai
l
ur
ei
nTur
ke
yt
hani
nt
heUni
t
e
dKi
ngdom.
ANSWER:
b.
t
heUni
t
e
dKi
ngdom pr
i
nt
e
dmone
ya
tas
l
owe
rr
a
t
et
hanTur
ke
y
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
1
184.
Whi
c
hoft
hef
ol
l
owi
ngi
sc
ons
i
s
t
e
ntwi
t
ht
hePhi
l
l
i
psCur
ve
?
a
.
I
fwei
nc
r
e
as
et
her
a
t
eofi
nfla
t
i
onf
r
om 3pe
r
c
e
ntt
o6pe
r
c
e
nt
,t
he
nt
her
a
t
eofune
mpl
oyme
ntwi
l
l
t
e
mpor
ar
i
l
yf
al
l
.
b.
I
fwei
nc
r
e
as
et
her
a
t
eofi
nfla
t
i
onf
r
om 3pe
r
c
e
ntt
o6pe
r
c
e
nt
,t
he
nt
her
a
t
eofune
mpl
oyme
ntwi
l
l
t
e
mpor
ar
i
l
yr
i
s
e
.
c
.
I
fwei
nc
r
e
as
et
her
a
t
eofi
nfla
t
i
onf
r
om 3pe
r
c
e
ntt
o6pe
r
c
e
nt
,t
he
nt
her
a
t
eofune
mpl
oyme
ntwi
l
l
pe
r
mane
nt
l
yf
al
l
.
d.
I
fwei
nc
r
e
as
et
her
a
t
eofi
nfla
t
i
onf
r
om 3pe
r
c
e
ntt
o6pe
r
c
e
nt
,t
he
nt
her
a
t
eofune
mpl
oyme
ntwi
l
l
pe
r
mane
nt
l
yr
i
s
e
.
ANSWER:
a
.
I
fwei
nc
r
e
as
et
her
a
t
eofi
nfla
t
i
onf
r
om 3pe
r
c
e
ntt
o6pe
r
c
e
nt
,t
he
nt
her
a
t
eofune
mpl
oyme
ntwi
l
l
t
e
mpor
ar
i
l
yf
al
l
.
TYPE:
M SECTI
ON:
3DI
FFI
CULTY:
2
TRUE/F
ALSE
1.
Sc
ar
c
i
t
yme
anst
ha
tt
he
r
ei
sl
e
s
sofagoodorr
e
s
our
c
ea
vai
l
abl
et
hanpe
opl
ewi
s
ht
oha
ve
.
ANSWER:
TTYPE:TSECTI
ON:1RANDOM:
Y
2.
Ec
onomi
c
si
st
hes
t
udyofhow f
ai
r
l
ygoodsands
e
r
vi
c
e
sar
edi
s
t
r
i
but
e
dwi
t
hi
ns
oc
i
e
t
y
.
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  23
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
3.
Wi
t
hc
ar
e
f
ulpl
anni
ng,wec
anus
ual
l
yge
ts
ome
t
hi
ngt
ha
twel
i
kewi
t
houtha
vi
ngt
ogi
veups
ome
t
hi
nge
l
s
et
ha
t
wel
i
ke
.
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
4.
Equi
t
yme
anse
ve
r
yonei
nt
hee
c
onomys
houl
dr
e
c
e
i
veane
quals
har
eoft
hegoodsands
e
r
vi
c
e
spr
oduc
e
d.
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
5.
Equi
t
yr
e
f
e
r
st
ohow t
hepi
ei
sdi
vi
de
d,ande
ffic
i
e
nc
yr
e
f
e
r
st
ot
hes
i
zeoft
hee
c
onomi
cpi
e
.
ANSWER:
TTYPE:TSECTI
ON:1RANDOM:
Y
6.
Tui
t
i
oni
st
hes
i
ngl
e
l
ar
ge
s
tc
os
tofa
t
t
e
ndi
ngc
ol
l
e
gef
ormos
ts
t
ude
nt
s
.
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
7.
Thec
os
tofanac
t
i
oni
sme
as
ur
e
di
nt
e
r
msoff
or
e
goneoppor
t
uni
t
i
e
s
.
ANSWER:
TTYPE:TSECTI
ON:1RANDOM:
Y
8.
A mar
gi
nalc
hangei
sas
mal
li
nc
r
e
me
nt
aladj
us
t
me
ntt
oane
xi
s
t
i
ngpl
anofac
t
i
on.
ANSWER:
TTYPE:TSECTI
ON:1RANDOM:
Y
9.
I
ft
hea
ve
r
a
gec
os
toft
r
ans
por
t
i
ngapas
s
e
nge
ront
het
r
ai
nf
r
om Chi
c
a
got
oSt
.Loui
si
s$75,
i
twoul
dbei
r
r
a
t
i
onal
f
ort
her
ai
l
r
oadt
oal
l
ow a
nypas
s
e
nge
rt
or
i
def
orl
e
s
st
han$75
.
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
10.
Ar
a
t
i
onalde
c
i
s
i
onmake
rt
ake
sanac
t
i
oni
fandonl
yi
ft
hemar
gi
nalc
os
te
x
c
e
e
dst
hemar
gi
nalbe
ne
fit
.
ANSWER:
FTYPE:TSECTI
ON:1RANDOM:
Y
11.
Tr
adeal
l
owse
ac
hpe
r
s
ont
os
pe
c
i
al
i
zei
nt
heac
t
i
vi
t
i
e
sheors
hedoe
sbe
s
t
,
t
husi
nc
r
e
as
i
nge
ac
hi
ndi
vi
dual
’
s
pr
oduc
t
i
vi
t
y
.
ANSWER:
TTYPE:TSECTI
ON:2RANDOM:
Y
12.
Tr
adewi
t
hanyna
t
i
onc
anbemut
ual
l
ybe
ne
fic
i
al
.
ANSWER:
TTYPE:TSECTI
ON:2RANDOM:
Y
13.
A mar
ke
te
c
onomyc
annotpr
oduc
eas
oc
i
al
l
yde
s
i
r
abl
eout
c
omebe
c
aus
ei
ndi
vi
dual
sar
emot
i
va
t
e
dbyt
he
i
rown
s
e
l
fis
hi
nt
e
r
e
s
t
s
.
ANSWER:
FTYPE:TSECTI
ON:2RANDOM:
Y
14.
Thegove
r
nme
ntc
anpot
e
nt
i
al
l
yi
mpr
ovemar
ke
tout
c
ome
si
fmar
ke
ti
ne
qual
i
t
i
e
sormar
ke
tf
ai
l
ur
ee
xi
s
t
s
.
ANSWER:
TTYPE:TSECTI
ON:2RANDOM:
Y
15.
Mar
ke
tf
ai
l
ur
er
e
f
e
r
st
oas
i
t
ua
t
i
oni
nwhi
c
ht
hemar
ke
tdoe
snotal
l
oc
a
t
er
e
s
our
c
e
se
ffic
i
e
nt
l
y
.
ANSWER:
TTYPE:TSECTI
ON:2RANDOM:
Y
16.
Si
nc
et
ax
e
saffe
c
tonl
yt
hepr
i
c
epai
dbyt
hebuye
r
,t
he
yc
annotha
veanadve
r
s
ei
mpac
tont
heal
l
oc
a
t
i
onof
s
oc
i
e
t
y’
sr
e
s
our
c
e
s
.
ANSWER:
FTYPE:TSECTI
ON:2RANDOM:
Y
17.
Pr
oduc
t
i
vi
t
yi
sde
fine
dast
hequant
i
t
yofgoodsands
e
r
vi
c
e
spr
oduc
e
df
r
om e
ac
hhourofawor
ke
r
’
st
i
me
.
ANSWER:
TTYPE:TSECTI
ON:3RANDOM:
Y
18.
Pr
oduc
t
i
vi
t
yi
st
hepr
i
mar
yde
t
e
r
mi
nantofac
ount
r
y‘
sl
i
vi
ngs
t
andar
ds
.
ANSWER:
TTYPE:TSECTI
ON:3RANDOM:
Y
19.
I
nfla
t
i
oni
nc
r
e
as
e
st
heval
ueofmone
y
.
ANSWER:
FTYPE:TSECTI
ON:3RANDOM:
Y
20.
Gove
r
nme
nts
pe
ndi
ngi
st
heul
t
i
ma
t
es
our
c
eofi
nfla
t
i
on.
ANSWER:
FTYPE:TSECTI
ON:3RANDOM:
Y
21.
ThePhi
l
l
i
psCur
ves
howst
hes
hor
t
r
unt
r
ade
offbe
t
we
e
ni
nfla
t
i
onande
c
onomi
cgr
owt
h.
ANSWER:
FTYPE:TSECTI
ON:3RANDOM:
Y
SHORTANSWER
APPLI
CATI
ON/SCENARI
O
1.
Wha
twoul
dhappe
nt
ot
hes
t
udyofe
c
onomi
c
si
fs
c
a
r
c
i
t
ydi
s
appe
ar
e
d?
ANSWER:
Si
nc
ee
c
onomi
c
si
st
hes
t
udyofhow s
oc
i
e
t
yal
l
oc
a
t
e
si
t
ss
c
ar
c
er
e
s
our
c
e
s
,
i
ft
he
r
ewe
r
enos
c
ar
c
i
t
y
,
t
he
r
ewoul
d
benone
e
df
ore
c
onomi
c
s
.Eve
r
yonec
oul
dha
veal
lt
hegoodsands
e
r
vi
c
e
st
he
ywant
e
d.
Noonewoul
dha
vet
omake
de
c
i
s
i
onsbas
e
dont
r
ade
offs
,be
c
aus
et
he
r
ewoul
dbenooppor
t
uni
t
yc
os
tas
s
oc
i
a
t
e
dwi
t
ht
hede
c
i
s
i
on.(
I
ti
sdi
ffic
ul
tt
o
c
onc
e
i
veofas
i
t
ua
t
i
onwhe
r
et
i
mei
snots
c
ar
c
e
,
howe
ve
r
)
.
TYPE:
SSECTI
ON:1RANDOM:Y
2.
Onet
r
ade
offs
oc
i
e
t
yf
ac
e
si
sbe
t
we
e
ne
ffic
i
e
nc
yande
qui
t
y
.De
finee
ac
ht
e
r
m.I
ft
heU.
S.
gove
r
nme
ntr
e
di
s
t
r
i
but
e
s
i
nc
omef
r
om t
her
i
c
ht
ot
hepoor
,e
xpl
ai
nhow t
hi
sac
t
i
onaffe
c
t
se
qui
t
yaswe
l
lase
ffic
i
e
nc
yi
nt
hee
c
onomy
.
ANSWER:
Effic
i
e
nc
yi
st
hepr
ope
r
t
yofs
oc
i
e
t
yge
t
t
i
ngt
hemos
ti
tc
anf
r
om i
t
ss
c
ar
c
er
e
s
our
c
e
s
.
Equi
t
yi
sde
fine
dast
he
pr
ope
r
t
yofdi
s
t
r
i
but
i
nge
c
onomi
cpr
os
pe
r
i
t
yf
ai
r
l
yamongt
heme
mbe
r
sofs
oc
i
e
t
y
.
Of
t
e
n,
t
he
s
et
wogoal
sc
onfli
c
t
.Whe
n
t
hegove
r
nme
ntr
e
di
s
t
r
i
but
e
si
nc
omef
r
om t
her
i
c
ht
ot
hepoor
,i
tr
e
duc
e
st
her
e
war
df
orwor
ki
nghar
d.Fe
we
rgoodsand
s
e
r
vi
c
e
sar
epr
oduc
e
dandt
hee
c
onomi
cpi
ege
t
ss
ma
l
l
e
r
.Whe
nt
hegove
r
nme
ntt
r
i
e
st
oc
utt
hee
c
onomi
cpi
ei
nt
omor
e
e
quals
l
i
c
e
s
,t
hepi
ege
t
ss
mal
l
e
r
.Pol
i
c
i
e
sai
me
da
tac
hi
e
vi
ngamor
ee
qualdi
s
t
r
i
but
i
onofe
c
onomi
cwe
l
l
be
i
ng,
s
uc
hast
he
we
l
f
ar
es
ys
t
e
m,t
r
yt
ohe
l
pt
hos
eme
mbe
r
sofs
oc
i
e
t
ywhoar
emos
ti
nne
e
d.Thei
ndi
vi
duali
nc
omet
axas
kst
hefinanc
i
al
l
y
s
uc
c
e
s
s
f
ult
oc
ont
r
i
but
emor
et
hanot
he
r
st
os
uppor
tt
hegove
r
nme
nt
.
TYPE:
SSECTI
ON:1RANDOM:Y
Downloaded by H?ng Nguy?n (chipbong252004@gmail.com)
lOMoARcPSD|12040030
Chapter 1/Ten Principles of Economics  24
3.
De
fineoppor
t
uni
t
yc
os
t
.
Wha
ti
st
heoppor
t
uni
t
yc
os
tt
oyouofa
t
t
e
ndi
ngc
ol
l
e
ge
?Wha
twasyouroppor
t
uni
t
y
c
os
tofc
omi
ngt
oc
l
as
st
oda
y?
ANSWER:
Wha
t
e
ve
rmus
tbegi
ve
nupt
oobt
ai
ns
omei
t
e
mi
ti
t
soppor
t
uni
t
yc
os
t
.Ba
s
i
c
al
l
y
,t
hi
swoul
dbeape
r
s
on’
s
s
e
c
ondc
hoi
c
e
.
Theoppor
t
uni
t
yc
os
tofape
r
s
ona
t
t
e
ndi
ngc
ol
l
e
gei
st
heval
ueoft
hebe
s
tal
t
e
r
na
t
i
veus
eoft
ha
tpe
r
s
on’
s
t
i
me
.
Formos
ts
t
ude
nt
st
hi
swoul
dbet
hei
nc
omet
hes
t
ude
ntgi
ve
supbynotwor
ki
ng.
As
t
ude
nt
’
soppor
t
uni
t
yc
os
tof
c
omi
ngt
oc
l
as
swast
heval
ueoft
hebe
s
toppor
t
uni
t
yt
hes
t
ude
ntga
veup.(
Formos
ts
t
ude
nt
s
,t
ha
ts
e
e
mst
obes
l
e
e
p.
)
TYPE:
SSECTI
ON:1RANDOM:Y
4.
Wi
t
ht
heunde
r
s
t
andi
ngt
ha
tpe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,out
l
i
net
hepos
s
i
bl
eout
c
omef
ort
e
ac
he
r
si
ft
heK12
s
c
hoolye
ari
se
xt
e
nde
dt
o11mont
hspe
rye
ari
ns
t
e
adoft
hee
xi
s
t
i
ng9mont
hspe
rye
ar
.
ANSWER:
Thec
onc
e
ptofwor
ki
ngl
onge
rpe
rye
arwoul
dbepe
r
c
e
i
ve
dbymanyt
e
a
c
he
r
sasade
fini
t
ei
nc
r
e
as
ei
nt
hec
os
tof
t
e
ac
hi
ng.
Eve
nwi
t
haddi
t
i
onalc
ompe
ns
a
t
i
on,manyt
e
ac
he
r
sl
ooka
ts
umme
r
soffasama
j
orbe
ne
fitoft
hee
duc
a
t
i
on
pr
of
e
s
s
i
on.I
ft
hi
sbe
ne
fitwe
r
ee
l
i
mi
na
t
e
dore
ve
ndi
mi
ni
s
he
d,s
omet
e
a
c
he
r
sma
ype
r
c
e
i
vet
ha
tt
hemar
gi
nalc
os
tof
t
e
ac
hi
ngwoul
dnow begr
e
a
t
e
rt
hant
hemar
gi
nalbe
ne
fitandwoul
dc
hoos
et
ol
e
a
vet
e
a
c
hi
ng.
TYPE:
SSECTI
ON:1RANDOM:Y
5.
Unde
rwha
tc
ondi
t
i
onsmi
ghtgove
r
nme
nti
nt
e
r
ve
nt
i
oni
nane
c
onomyi
mpr
ovet
hemar
ke
tout
c
ome
?
ANSWER:
I
ft
he
r
ei
samar
ke
tf
ai
l
ur
e
,s
uc
hasane
xt
e
r
nal
i
t
yormonopol
y
,gove
r
nme
ntr
e
gul
a
t
i
onmi
ghti
mpr
ovet
hewe
l
l
be
i
ngofs
oc
i
e
t
ybypr
omot
i
nge
ffic
i
e
nc
y
.
I
ft
hedi
s
t
r
i
but
i
onofi
nc
omeorwe
al
t
hi
sc
ons
i
de
r
e
dt
obeunf
ai
rbys
oc
i
e
t
y
,
gove
r
nme
nti
nt
e
r
ve
nt
i
onmi
ghta
c
hi
e
veamor
ee
qui
t
abl
edi
s
t
r
i
but
i
onofe
c
onomi
cwe
l
l
be
i
ng.
TYPE:
SSECTI
ON:2RANDOM:Y
6.
Expl
ai
nhow ana
t
t
e
mptbyt
hegove
r
nme
ntt
ol
owe
ri
nfla
t
i
onc
oul
dc
aus
eune
mpl
oyme
ntt
oi
nc
r
e
as
ei
nt
hes
hor
t
r
un.
ANSWER:
Tol
owe
ri
nfla
t
i
on,t
hegove
r
nme
ntma
yc
hoos
et
or
e
duc
et
hemone
ys
uppl
yi
nt
hee
c
onomy
.Whe
nt
hemone
y
s
uppl
yi
sr
e
duc
e
d,pr
i
c
e
sdon’
tadj
us
ti
mme
di
a
t
e
l
y
.
Lowe
rs
pe
ndi
ngc
ombi
ne
dwi
t
hpr
i
c
e
s
,whi
c
har
et
oohi
gh,r
e
duc
e
s
s
al
e
sandc
aus
e
swor
ke
r
st
obel
ai
doff.He
nc
e
,t
hel
owe
rpr
i
c
el
e
ve
li
sas
s
oc
i
a
t
e
dwi
t
hhi
ghe
rune
mpl
oyme
nt
.
TYPE:
SSECTI
ON:3RANDOM:Y
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