Introduction to Economics — Test

Question 1

Which of these are indicators measured by the HDI? Choose three correct answers.

Revolt · Accepted Answer

gross national income; education; life expectancy

Question 2

Which of these are influenced by personal economic choices? Choose four correct answers.

Revolt · Accepted Answer

the amount of money you spend on a bus pass; the money you decide to spend on leisure products; the manner in which you balance your time between work and leisure; the amount of money you put into your savings account

Question 3

Which of the could be considered both a renewable resource and a nonrenewable resource?

Revolt · Accepted Answer

sea water

Question 4

If Niger is rich in mineral resources, what is the most likely reason it remains one of the world’s poorest countries?

Revolt · Accepted Answer

It lacks the technology and know-how to use these resources.

Question 5

One method for studying opportunity cost is to think in terms of

Revolt · Accepted Answer

tradeoffs.

Introduction to Economics — Test Answers

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