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35
Chapter 2
Thinking Like an Economist
Multiple Choice
1. Which of the following terms are most closely associated with the study of economics?
a. force and acceleration
b. torts and venues
c. ego and cognitive dissonance
d. comparative advantage and deadweight loss
ANS:D PTS:1 DIF:2 REF:2-0
TOP: Economists MSC: Interpretive
2. Economists, like mathematicians, physicists, and psychologists,
a. make use of the scientific method.
b. make use of their own language.
c. devise theories, and collect and analyze data.
d. All of the above are correct.
ANS:D PTS:1 DIF:1 REF:2- 1
TOP: EconomistsIScientific method MSC: Interpretive
3.With respect to how economists study the economy, which of the following statements is most accurate?
a. Economists study the past, but they do not try to predict the future.
b. Economists use“rules of thumb”to predict the future.
c. Economists devise theories, collect data, and analyze the data to test the theories.
d. Economists use controlled experiments in much the same way that biologists and physicists do.
ANS:C PTS:1 DIF:2 REF:2- 1
TOP: EconomistsMSC: Interpretive
4. By scientific method we mean
a. the use of modern electronic testing equipment to understand the world.
b. the dispassionate development and testing of theories about how the world works.
c. the use of controlled laboratory experiments to understand the way the world works.
d. finding evidence to support preconceived theories about how the world works.
ANS: B PTS:1 DIF:2 REF:
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