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Chapter 1 Ten Principles of Economics MULTI PLECHOI CE 1 .

Thewor dt ha tc ome sf r om t heGr e e kwor df or“ onewhoma na ge sahous e hol d”i s a . mar k et . b. c ons ume r . c . pr oduc er . d. e c onomy . ANS WER:d. e c onomy . TYPE:M S ECTI ON:1DI FFI CULTY:1 2 . Thewor de c onomyc ome sf r om t heGr e e kwo r df or a . “ e nvi r onme nt . ” b. “ onewhomanage sahous e hol d. ” c . “ onewhopa r t i c i pa t e si nama r ke t . ” d. “ c ons e r va t i on. ” ANS WER: b. “ onewhoma na ge sahous e hol d. ” TYPE:M S ECTI ON:1DI FFI CULTY:1 3 . Hous e hol dsa nde c onomi e sha vee a c hoft hef ol l owi ngi nc ommonEXCEPTbot h a . mus ta l l oc a t es c ar c er es our c e s . b. f ac emanyde c i s i ons . c . mus ta l l oc a t et hegoodsands e r vi c e st he ypr oduc e . d. mus tha v eac e nt r a lde c i s i onma ke r . ANS WER: d. mus tha veac e nt r a lde c i s i onma ke r . TYPE:M S ECTI ON:1DI FFI CULTY:2 4 . Ec onomi c sde a l spr i mar i l ywi t ht hec onc e ptof a . s c a r c i t y . b. po ve r t y . c . c hange . d. po we r . ANS WER: a . s c a r c i t y . TYPE:M S ECTI 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 enc e s d. whowi l lc ons umet hegoods ANS WER: c . wha tde t e r mi ne sc ons ume rpr e f e r e nc e s TYPE:M S ECTI ON:1DI FFI CULTY:2 6 . Bot hhous e hol dsa nds oc i et i e sf a c ema nyde c i s i onsbec a us e a . r e s our c e sa r es c a r c e . b. popul a t i onsma yi nc r e as eorde c r e as eov e rt i me . c . wage sf orhous e hol dsa ndt 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 . ANS WER: a . r e s our c e sa r es c ar c e . TYPE:M S ECTI ON:1DI FFI CULTY:2 7 . A goodi sc ons i de r e ds c ar c ei nas oc i e t ywhe n a . mor eout putoft hegoodi spos s i bl e . b. e v er yonei nt ha ts oc i e t yc a nnotha v ea l lt he ywa ntoft hegood. c . t hego ve 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 a nbuya l lt he ywa ntoft hegood. ANS WER: b. e v er yonei nt ha ts oc i e t yc a nnotha v ea l lt he ywa ntoft hegood. TYPE:M S ECTI ON:1DI FFI CULTY:2 8 . Sc a r c i t ye x i s t swhe n a . t he r ei sl es st ha nani nfini t ea mountofar e s our c eorgood. b. s oc i e t yc a nme e tt hewa nt sofe ve r yi ndi vi dua l . c . t he r ei sl es sofagoodorr e s our c ea vai l a bl et ha npe opl ewi s ht oha ve . d. t hego ve r nme ntf a i l st opr oduc egoods . ANS WER: c . t he r ei sl e s sofagoodorr e s our c ea vai l a bl et ha npe opl ewi s ht oha ve . TYPE:M S ECTI ON:1DI FFI CULTY:2

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Chapter 1/Ten Principles of Economics  2 9 .

Whi c hoft hef ol l owi ngwo ul dNOTbet r uei nawor l dwi t houts c a r 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 y onewoul dha veal lt hegoodsa nds e r vi c e st he ywa nt e d. c . The r ewoul dha vet obea ni 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 . ANS WER: c . The r ewoul dha vet obea ni nfini t es uppl yofe ve r yr es our c e . TYPE:M S ECTI ON:1DI FFI CULTY:2 1 0 . Appr ox i 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 a r c i t y ? a . 2 5% b. 5 0 % c . 75 % d. 1 0 0% ANS WER: d. 10 0 % TYPE:M S ECTI ON:1DI FFI CULTY:1 1 1 . Whe nas oc i e t yc a nnotpr oduc eal lt hegoodsands e r vi c e spe opl ewi s ht oha vei ti ss a i dt ha tt heec onomyi s e xpe r i enc i ng a . s c a r c i t y . b. c ommuni s m. c . e x t e r na l i t i e s . d. ma r ke tf a i l ur e . ANS WER: a . s c a r c i t y . TYPE:M S ECTI ON:1DI FFI CULTY:1 1 2 . Fors oc i e t y , agoodi snots c ar c ei f a . a tl e a s tonei ndi vi duali ns oc i e t yc a nobt a i na l lheors hewa nt soft hegood. b. fir msar epr oduc i ngatf ul lc a pa c i t y . c . al lme mbe r sofs oc i et yc a nha vea l lt he ywa ntofi t . d. t hos ewhoha vee noughi nc omec a nbuya l lt he ywantoft hegood. ANS WER: c . al lme mbe r sofs oc i e t yc a nha vea l lt he ywa ntofi t . TYPE:M S ECTI ON:1DI FFI CULTY:2 1 3 . Whi c hpr oduc twoul dbec ons i de r eds c a r c e ? a . Ni kes hoe s b. Monetpa i nt i ngs c . 1c a r a tdi a monds d. Al loft hea bovea r ec or r ec t . ANS WER: d. Al loft hea bo vea r ec or r e c t . TYPE:M S ECTI ON:1DI FFI CULTY:2 1 4 . 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 . a i r b. wa t e ri nt heoc e a n c . wa t e ri nac i t y d. woodi naf or es t ANS WER: c . wa t e ri nac i t y TYPE:M S ECTI ON:1DI FFI CULTY:2 1 5 . Ec onomi c si sdefineda st hes t udyof a . bus i ne s s . b. ho ws oc i e t yma na ge si t ss c ar c er e s our c e s . c . c e nt r alpl a nni ng. d. go ve r nme ntr e gul a t i on. ANS WER: b. ho ws oc i e t yma na ge si t ss c a r c er e s our c e s . TYPE:M S ECTI ON:1DI FFI CULTY:1 1 6 . Ec onomi c si st hes t udyof a . ho ws oc i e t yma na ge si t ss c ar c er e s our c e s . b. t hego ve r nme nt ’ sr ol ei ns oc i e t y . c . ho w amar ke ts ys t e mf unc t i ons . d. ho wt oi nc r e as epr oduc t i on. ANS WER: a . how s oc i e t ymanage si t ss c a r c er e s our c es . TYPE:M S ECTI ON:1DI FFI CULTY:1 1 7 . I nmos ts oc i e t i e s ,r e s our c e sa r ea l l oc a t edb y a . as i ngl ec e nt r alpl a nne r . b. t hos ewhoownt her e s our c e s . c . t hos efir mst ha tus er es our c e st opr ovi degoodsa nds e r vi c e s . d. t hec ombi neda c t i onsofmi l l i onsofhous e hol dsandfir ms .

Chapter 1/Ten Principles of Economics  3 ANS WER: d. t hec ombi neda c t i onsofmi l l i onsofhous e hol dsandfir ms . TYPE:M S ECTI ON:1DI FFI CULTY:2 1 8 . Ec onomi s t ss t udya l loft hef ol l owi ngEXCEPT a . ho w pe opl emakede c i s i ons . b. ho w pe opl ei nt e r a c twi t honeanot he r . c . t hef or c e sandt r e ndst ha ta ffe c tt hee c onomyasawhol e . d. ho ws oc i e t i e sc ha ngeov e rt i me . ANS WER: d. ho ws oc i e t i e sc ha ngeov e rt i me . TYPE:M S ECTI ON:1DI FFI CULTY:2 1 9 . Whi c hoft hef ol l owi ngi sNOTama j ora r e aofs t udyf ore c onomi s t s ? a . ho w pe opl emakede c i s i ons b. ho wc ount r i e sc hoos ena t i onall e a de r s c . ho w pe opl ei nt e r a c twi t he a c hot he r d. ho wf or c e sa ndt r e ndsa ffe c tt heove r al le c onomy ANS WER: b. ho wc ount r i e sc hoos ena t i onall e a de r s TYPE:M S ECTI ON:1DI FFI CULTY:2 2 0 . Thea da ge ,“Ther ei snos uc ht hi nga saf r eel unc h, ”i sus e dt oi l l us t r a t et hec onc e ptof a . t r a de offs . b. s c a r c i t y . c . pr oduc t i vi t y . d. e ffic i e nc y . ANS WER: a . t r ade offs . TYPE:M S ECTI ON:1DI FFI CULTY:2 2 1 . Thea da ge ,“Ther ei snos uc ht hi nga saf r eel unc h, ”me a ns a . e v enpe opl eonwe l f a r eha v et opa yf orf ood. b. t hec o s tofl i vi ngi sal wa ysi nc r e as i ng. c . t oge ts ome t hi ngwel i ke ,weus ua l l yha v et ogi veupa not he rt hi ngwel i ke . d. al lc os t sar ei nc l ude di nt hepr i c eofapr oduc t . ANS WER: c . t oge ts ome t hi ngwel i ke ,weus ua l l yha v et ogi veupanot he rt hi ngwel i ke . TYPE:M S ECTI ON:1DI FFI CULTY:2 2 2 . Ec onomi s t sus et hephr a s e“ The r ei snos uc ht hi nga saf r e el unc h, ”t oi l l us t r a t e a . ho wi nfla t i oni nc r e a s espr i c e s . b. t ha tt oge tonet hi ng,wemus tgi v eups ome t hi nge l s e . c . t ha tnot hi ngi sf r eei nama r ke tec onomy . d. t ha ti fs ome t hi ngl ookst oogoodt obet r ue ,i tpr oba bl yi s . ANS WER: b. t ha tt oge tonet hi ng,wemus tgi v eups ome t hi nge l s e . TYPE:M S ECTI ON:1DI FFI CULTY:2 2 3 . Whi c hbe s tr epr e s e nt st hec onc e ptr e pr es e nt e dbyt heada ge ,“ The r ei snos uc ht hi nga saf r e el unc h” ? a . Me l i s s ac a nonl ya t t e ndt hec onc e r ti fs het a ke shers i s t e rwi t hhe r . b. Gr e gi shungr ya ndhome l e s s . c . Br i anmus tr e pa i rt het i r eonhi sbi kebe f or ehec anr i dei tt oc l a s s . d. Ke ndr amus tde c i debe t we e ngoi ngt oCol or a doorCanc unf ors pr i ngbr e ak. ANS WER: d. Ke ndr amus tde c i debe t we e ngoi ngt oCol or a doorCanc unf ors pr i ngbr e a k. TYPE:M S ECTI ON:1DI FFI CULTY:3 2 4 . Gunsa ndbut t e ra r eus e dt or e pr e s e ntt hec l a s s i cs oc i e t alt r a de offbet wee ns pe ndi ngon a . dur a bl ea ndnondur a bl egoods . b. i mpor t sa nde xpor t s . c . na t i onalde f e ns ea ndc ons ume rgoods . d. l a we nf or c e me nta ndagr i c ul t ur e . ANS WER: c . na t i onalde f e ns ea ndc ons ume rgoods . TYPE:M S ECTI ON:1DI FFI CULTY:2 2 5 . He nr yde c i dest os pe ndt wohour spl a yi nggol fr a t hert hanwor ki nga thi sj obwhi c hpa ys$8pe rhour .He nr y’ s t r ade offi s a . t he$1 6hec oul dha v ee a r ne dwor ki ngf ort wohour s . b. not hi ng,be c aus eheenj o yspl a yi nggol fmor et ha nwor ki ng. c . t hei nc r e as ei ns ki l lheobt a i nsf r om pl a yi nggol ff ort hos et wohour s . d. not hi ng,be c aus ehes pe nt$ 16f orgr e e nf e e st opl a ygol f . ANS WER: a . t he$ 1 6hec oul dha v ee a r nedwor ki ngf ort wohour s . TYPE:M S ECTI ON:1DI FFI CULTY:2 2 6 . Whe ns oc i e t yr equi r e st ha tfir msr e duc epol l ut i on,t her ei s a . at r a de offbe c a us eofr e duc e di nc ome st ot hefir ms ’owne r s ,wo r ke r s ,a ndc us t ome r s . b. not r ade off,s i nc ee ve r y onebe ne fit sf r om r e duc e dpol l ut i on.

Chapter 1/Ten Principles of Economics  4 c . not r ade offf ors oc i e t ya sawhol e ,s i nc et hec o s tofr e duc i ngpol l ut i onf al l sonl yont hefir msaffe c t e db y t her e qui r e me nt s . d. at r a de offonl yi fs omefir msar ef or c e dt oc l os e . ANS WER: a . at r a de offbe c aus eofr e duc e di nc ome st ot hefir ms ’owne r s ,wor ke r s ,a ndc us t ome r s . TYPE:M S ECTI ON:1DI FFI CULTY:3 2 7 . Da ni e lde c i de st os pe ndt hel a s tt wohour soft heni ghtbe f or ehi se c onomi c se xa ms t udyi ngi ns t e a dofs l e e pi ng. ForDani e l ,hi st r a de offwo ul dbe a . not hi ng,s i nc enodol l a rva l uec anbeputons l e ep. b. not hi ng,s i nc es t udyi ngwoul dbemor ebene fic i a lt hans l e ep. c . t hes i xhour sofs l e e phec oul dha veha di fheha dgonet obe dbe f or emi dni ght . d. t het wohour sofr e s thewoul dha vegot t e n. ANS WER: d. t het wohour sofr e s thewoul dha vegot t en. TYPE:M S ECTI ON:1DI FFI CULTY:2 2 8 . At r ade offe xi s t sbe t we e nac l e a ne nvi r onmenta ndahi ghe rl e ve lofi nc omei nt ha t a . s t udi e ss ho wt ha ti ndi vi dua l swi t hhi ghe rl e ve l sofi nc omea c t ua l l ypol l ut el e s st ha nl owi nc ome i ndi vi dua l s . b. t opa yf orpol l ut i onc l e a nup,t hego ve r nme ntmus ti nc r e as et a xe swhi c hl ower si nc ome . c . l a wst ha tr e duc epol l ut i onr a i s ec os t sofpr oduc t i onandr e duc ei nc ome s . d. byempl o yi ngi ndi vi dua l st oc l e anuppol l ut i on,e mpl o yme nta ndi nc omebot hr i s e . ANS WER: c . l a wst ha tr e duc epol l ut i onr a i s ec os t sofpr oduc t i onandr e duc ei nc ome s . TYPE:M S ECTI ON:1DI FFI CULTY:3 2 9 . Whi c hoft hef ol l owi ngwo ul 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 gherpr i c est oc ons ume r s c . l owe rwa ge st owor ke r s d. s ma l l e rpr ofitt ofir ms ANS WER: a . l o we rs pe ndi ngbygov er nme nt TYPE:M S ECTI ON:1DI FFI CULTY:2 3 0 . 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 a de offons oc i e t y . c . al l ow fir mst or a i s ewor ke r s ’wa g e s . d. l owe rpr i c e sf orc ons ume r s . ANS WER: b. i mpos eat r a de offons oc i e t y . TYPE:M S ECTI ON:1DI FFI CULTY:2 3 1 . Whi c hoft hef ol l owi ngbes 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 wa s t e d. c ons ume rs ove r e i gnt y ANS WER: c . mi ni mum wa s t e TYPE:M S ECTI ON:1DI FFI CULTY:1 3 2 . 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 z eoft 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 el y ,gove r nme ntpol i c i e sa r ede s i gne dt opr omot ebot hequi t yande ffic i e nc y . c . Asl onga st hee c onomi cpi ec ont i nual l yge t sl a r ge r ,noonewi l lha vet ogohungr y . d. Effic i e nc yande qui t yc a nbot hbeac hi e ve di ft hee c onomi cpi ei sc uti nt oe qua lpi e c es . ANS WER: a . Effic i enc yr e f e r st ot hes i z eoft hee c onomi cpi e ;e qui t yr e f e r st oho wt hepi ei sdi vi de d. TYPE:M S ECTI ON:1DI FFI CULTY:3 3 3 . 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’ sgoodsa nds e r vi c e sa r edi s t r i but e df a i r l ya mongs oc i e t y’ sme mbe r s . c . s oc i e t yha sl e s s e ne di t sde pe nde nc eonf or e i gne ne r gys our c es . d. s oc i e t yi sge t t i ngt hemos ti tc a nf r om i t ss c ar c er e s our c e s . ANS WER: d. s oc i e t yi sge t t i ngt hemos ti tc a nf r om i t ss c a r c er e s our c e s . TYPE:M S ECTI ON:1DI FFI CULTY:2 3 4 . 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 a c hme mbe rofs oc i e t yhast hes a mei nc ome . b. s oc i e t yi sge t t i ngt hemos ti tc a nf 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 a s twi l lr e c e i v et hemos t . d. t hebe ne fit sofs oc i e t y’ sr e s our c esa r edi s t r i but e df ai r l ya mongs oc i e t y’ sme mber s . ANS WER: d. t hebe ne fit sofs oc i e t y’ sr e s our c esa r edi s t r i but e df ai r l ya mongs oc i e t y’ sme mber s .

Chapter 1/Ten Principles of Economics  5 TYPE:M S ECTI ON:1DI FFI CULTY:2 3 5 . Onede fini t i onofequi 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 . ANS WER: c . f a i r ne s s . TYPE:M S ECTI ON:1DI FFI CULTY:1 3 6 . Whe ngo ve r nme ntpol i c i e sa r ebe i ngde s i gne d, a . t he r ei sus ua l l yat r a de offbe t we e ne qui t ya ndeffic i e nc y . b. e qui t ya nde ffic i e nc ygoal sa r eus ua l l yi nde pe nde ntofe a c 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 . ANS WER: a . t he r ei sus ua l l yat r a de offbe t we e ne qui t ya nde ffic i e nc y . TYPE:M S ECTI ON:1DI FFI CULTY:2 3 7 . Whe ngo ve r nme ntpol i c i e ss uc ha st hewe l f a r es ys t e mt r yt ohe l pt hemos tnee dyme mbe r sofs oc i e t y , i t a . i nc r e as e se qui t ya ndr e duc e se ffic i enc 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 et y . d. c aus e sma r ke tf a i l ur et ooc c ur . ANS WER: a . i nc r e a s e se qui t ya ndr e duc e se ffic i e nc y . TYPE:M S ECTI ON:2DI FFI CULTY:2 3 8 . Whe nt hego ve r nme nti mpl e me nt spr ogr a mss uc ha spr ogr e s s i v ei nc omet a xr 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 da nde ffic i e nc yi si nc r e as e d. d. Equi t yi sde c r e as e da nde ffic i e nc yi sde c r e a s e d. ANS WER: b. Equi t yi si nc r e a s e dande ffic i e nc yi sde c r e as e d. TYPE:M S ECTI ON:2DI FFI CULTY:2 3 9 . Whe nt hego ve r nme nta t t e mpt st oc utt heec onomi cpi ei nt omor ee qua ls l i c e s , a . i ti se a s 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 hego ve r nme ntc anmor ee a s 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 v er yone . d. t heec onomywi l ls pe ndt oomuc ht i mec ut t i nga ndl os e st hea bi l i t yt opr oduc ee noughpi ef ore v e r yone . ANS WER: c . t hepi ege t ss mal l e r , andt he r ewi l lbel e s spi ef ore v er yone . TYPE:M S ECTI ON:2DI FFI CULTY:3 4 0 . Whe nt hego ve 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 a s ei nove r al lout puti nt hee c onomy . b. addi t i onalg ov er nme ntr e ve nues i nc eov e r a l li nc omewi l li nc r e as e . c . ana c t ua lr e duc t i oni ne qui t y . d. r e duc e de ffic i e nc yi nt heec onomy . ANS WER: d. r e duc e de ffic i e nc yi nt heec onomy . TYPE:M S ECTI ON:2DI FFI CULTY:2 4 1 . Whe nt hego ve 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 enc yi si mpr ove d,bute qui t yi snot . b. bot hr i c hpe opl ea ndpoorpe opl ebene fitdi r e c t l y . c . pe opl ewo r kl e s sa ndpr oduc ef e we rgoodsa nds 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 . ANS WER: c . pe opl ewor kl e s sa ndpr oduc ef e we rgoodsands e r vi c e s . TYPE:M S ECTI ON:1DI FFI CULTY:2 4 2 . I ne c onomi c s ,t hec o s tofs ome t hi ngi s a . t hedol l a ra mountofobt a i ni ngi t . b. al wa ysme a s ur e di nuni t soft i megi ve nupt oge ti t . c . wha ty ougi veupt oge ti t . d. us ua l l yhi ghe rt hanpe opl et hi nki twi l lbe . ANS WER: c . wha tyougi veupt oge ti t . TYPE:M S ECTI ON:1DI FFI CULTY:1 4 3 . Wha tyougi v eupt oobt a i na ni t e mi sc a l l e dyour a . oppor t uni t yc os t . b. e x pl i c i tc os t . c . t r uec os t .

Chapter 1/Ten Principles of Economics  6 d. di r e c tc os t . ANS WER: a . oppor t uni t yc os t . TYPE:M S ECTI ON:1DI FFI CULTY:1 4 4 . 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 here x pe ns es . b. t heva l ueoft hebe s toppor t uni t yas t ude ntgi v esupt oa t t e ndc ol l e ge . c . ze r of ors t ude nt swhoa r ef or t una t ee nought oha v ea l loft he i rc ol l e gee xpe ns e spa i dbys ome onee l s e . d. ze r o,s i nc eac ol l e gee duc a t i onwi l la l l ow as t ude ntt oe ar nal a r ge ri nc omeaf t e rgr adua t i on. ANS WER: b. t heva l ueoft hebes toppor t uni t yas t ude ntgi ve supt oa t t e ndc ol l e ge . TYPE:M S ECTI ON:1DI FFI CULTY:2 4 5 . Formos ts t ude nt s , t hel a r 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 ,a ndbooks . c . r oom andboa r d. d. t r a ns por t a t i on,pa r ki ng,ande nt e r t a i nment . ANS WER: a . t hewa ge sgi ve nupt oa t t e nds c hool . TYPE:M S ECTI ON:1DI FFI CULTY:2 4 6 . Thel a r ge s ts i ngl ec os tofgoi ngt oc ol l e gei sus ua l l y a . books . b. r oom andboa r d. c . t ui t i on. d. l os twa ge s . ANS WER: d. l os twa ge s . TYPE:M S ECTI ON:1DI FFI CULTY:1 4 7 . Theoppor t uni t yc os tofa ni t e mi s a . t henumbe rofhour sne e de dt oe a r nmone yt obuyi t . b. wha ty ougi veupt oge tt ha ti t e m. c . us ua l l yl es st ha nt hedol l arva l ueoft hei t em. d. t hedol l a rval ueoft hei t e m. ANS WER: b. wha tyougi veupt oge tt ha ti t e m. TYPE:M S ECTI ON:1DI FFI CULTY:1 4 8 . Ma l l or yde c i dest os pe nd3hour swor ki ngov e r t i mer a t he rt ha nwa t c hi ngavi de owi t hhe rf r i e nds .Shee ar ns$ 8 a nhour .He roppor t uni t yc os tofwo r ki ngi s a . t he$2 4s hee ar nswor ki ng. b. t he$2 4mi nust hee nj oyme nts hewo ul dha v er e c e i ve df r om wa t c hi ngt hevi deo . c . t heenj oyme nts hewoul dha v er e c e i ve dha ds hewa t c hedt hevi de o. d. not hi ng,s i nc es hewoul dha v er e c e i ve dl e s st ha n$ 24ofe nj oyme ntf r om t hevi de o. ANS WER: c . t heenj o yme nts hewoul dha v er e c e i ve dha ds hewa t c hedt hevi de o. TYPE:M S ECTI ON:1DI FFI CULTY:3 4 9 . 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 ov e me nti nhi sgr a de sf r om s t udyi ngf ort hehour . b. t hedi ffe r e nc ebe t we e nt hei mpr ov eme nti nhi sgr a de sf r om s t udyi ngmi nust hee nj oyme ntofpl a yi ng t e nni s . c . t heenj oyme ntande x e r c i s ehewoul dha v er ec e i ve dha dhepl 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 ha nt opl a yt e nni s ,t heva l ueofs t udyi ngmus tha vebe e ngr e a t e r t ha nt heva l ueofpl a yi ngt e nni s . ANS WER: c . t heenj ...