Answer Key to Sample MC Questions for Quiz 1

1-A, 2-C, 3-D, 4-D, 5-B, 6-A, 7-D,
8-A, 9-A, 10-B, 11-D, 12-A, 13-B, 14-B,
15-B, 16-B, 17-D, 18-A, 19-D^, 20-D, 21-B,
22-D, 23-A, 24-B, 25-B.

^19 originally said B was the answer. That was way wrong. It is D. Thanks HG.

Let me know if there are any errors or if you wish to discuss any of the responses. 25 may be difficult because I used the term "comparative advantage". This is a term that comes up in a later chapter. But the context should be the division of labor. I think C may be a reasonable response if you wish to argue. But I wouldn't really put a question like this on your quiz since I use a word not well defined.

The problems come from old tests. I hope you understand if I did not take the time to fully edit them. I don't want to sound like a complaining baby, but making up good multiple choice questions is extremely difficult. I'll aim to be more careful with the real quiz. I will always throw out a question that I, in retrospect, think is bad. I aim to be fair. Tough but fair.

Also, I realize most of these questions are from chapter 21. There may be more balance with chapter 1 on the quiz.