Econ 201 Tutorial #1
Date: Week 3
Coverage: Chapters 1 and 2 Introduction and Tools of Analysis

Multiple Choice Questions:
1. Which of the following would not promote economic growth within a society?
A)
Increasing the skill level of the workforce.
B)
An increase in technological expertise.
C)
More people looking for jobs than there are jobs available.
D)
An increase in the stock of machines and productive equipment.
2. The opportunity cost of attending college is likely to be highest for a high school graduate:
A)
who has access to student loans.
B)
whose family is extremely wealthy.
C)
who will attend a more expensive college.
D)
who started a successful business in high school.
3. Benny has one hour before bedtime and he can either watch TV or listen to his new Korn CD. He chooses to listen to the CD. The scarcity problem's influence on Benny is seen in:
A)
a the decision to listen to music.
B)
the decision not to watch TV.
C)
the fixed amount of time before bed.
D)
the decision to choose between TV and music.
4. All of the following statements are false except:
A)
Normative economic statements are statements of fact.
B)
In positive economics, we are detached scientists and personal values do not enter our description of economic events.z
C)
"The unemployment rate for September, 1987 was 5.9 percent" is a normative statement.
D)
"The government should provide a minimum income to every citizen" is a positive statement. 5. Economists frequently use economic models. These models:
A)
are tools used in the analysis of economic relationships.
B)
may be graphs expressing the relationship between two economic variables.
C)
may be equations expressing a relationship between two or more variables.
D)
all of the above.
6. Which one of the following statements is false?
A)
If the economist wants to examine the