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    Macroeconomic Multiple Choice Questions

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    1. An example of a negative externality is _____
    a public park that has litter, dead grass, and broken benches. YES
    paying one's taxes on time.
    voting for a candidate who loses an election or 'throwing away one's vote'.
    all of the above

    2. Economists strongly support which of the following arguments in favor of protectionism?
    National Security. It is imperative that established industries be supported, in order to protect our way of life.
    Infant Industry. Critical new industries must be given a chance to mature, before they face brutal international competition. YES
    Unfair Competition. When foreign exporters undercut domestic consumers, they hurt the economy.
    Breathing Room. Large and robust nations need room to expand, and require accommodations from their lesser developed neighbors.
    none of the above

    3. Human capital is _____
    skills and personal qualities that enable individuals to earn more income and to enjoy life more than they would without those skills and qualities. YES
    one's material wealth minus the amount of debt that one owes.
    the material wealth at one's disposal, regardless of the debt that one owes.
    the value of the tools of one's trade that one owns.

    4. All other things being equal, an additional unit of capital invested in a capital-rich economy will lead to _____ increase in output as compared with a unit of capital invested in a capital-poor economy.
    a smaller YES
    a larger
    about the same sized
    an unknowable

    5. Foreign investment _____
    is very beneficial to an economy, by increasing the amount of capital available. YES
    is a tool of imperialism and colonialism.
    decreases the amount of capital available and increases local interest rates.
    none of the above ...

    Solution Summary

    9. Financial intermediaries include _____
    salesmen and brokers.
    regulatory agencies.
    depository institutions and investment funds.
    none of the above YES

    $2.19