Test Bank For Microeconomics 9th Edition by William Boye
Chapter 01 Economics: The World Around You
MULTIPLE CHOICE
- Which of the following categories of educated workforce in the U.S., aged between 25 and 64, usually receive the highest income?
a.College graduates
b.Individuals with professional degrees
c.Individuals with a master’s degree
d.College drop-outs
e.High school students
ANS: B DIF: Easy REF: 1. an OBJ: ch. 01, 1
NAT: Analytic | The Study of Economics, and Definitions in Economics
TOP: Why Study Economics? MSC: Knowledge
- The wage disparity between college-educated and non-college-educated workers in the U.S. has declined since 2001 because:
a.more Americans are pursuing a college education.
b.the colleges emphasize technical education rather than textual knowledge.
c.most of the skilled sector jobs have been outsourced to India and China.
d.the variety of courses offered by U.S. institutions has increased.
e.the number of non-college-educated workers in the workforce has declined.
ANS: C DIF: Moderate OBJ: ch. 01, 1
NAT: Analytic | The Study of Economics, and Definitions in Economics
TOP: Why Study Economics? MSC: Knowledge
- Which of the following trends has been observed in the U.S. with respect to higher education?
a.Students from less educated families stand a better chance of getting admitted to colleges.
b.The divorce rate for college grads is twice as high as that of high school grads.
c.The divorce rates for college grads are accelerating every year.
d.High school grads are twice as likely to smoke as college grads.
e.College grads are likely to live shorter and less healthy lives than high school grads.
ANS: D DIF: Moderate REF: 1.a OBJ: ch. 01, 1
NAT: Analytic | The Study of Economics, and Definitions in Economics
TOP: Why Study Economics? MSC: Knowledge
- According to the U.S. Census Bureau, what is the difference between the earnings of a high school diploma holder and a medical practitioner between the ages of 25 and 64?
a.$3.2 million
b.$1.2 million
c.$5 million
d.No wage disparity
e.$8.5 million
ANS: A DIF: Moderate REF: 1.a OBJ: ch. 01, 1
NAT: Analytic | The Study of Economics, and Definitions in Economics
TOP: Why Study Economics? MSC: Knowledge
- Approximately how many American adults hold a college degree?
a.70 percent
b.10 percent
c.30 percent
d.45 percent
e.50 percent
ANS: C DIF: Easy REF: 1.a OBJ: ch. 01, 1
NAT: Analytic | The Study of Economics, and Definitions in Economics
TOP: Why Study Economics? MSC: Knowledge
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