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Question 1 

Structures given a LEED platinum ranking are ________.
 
  A) exemplary in sustainable design, especially energy efficiency
  B) inefficient and need to be renovated
  C) constructed to function without electricity
  D) typically built in sustainable villages in developing countries
  E) especially high in heavy metal content

Answer

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Question 2 

You have just opened a new Italian restaurant in your hometown where there are three other Italian restaurants. Your restaurant is doing a brisk business and you attribute your success to your distinctive northern Italian cuisine using locally grown organic produce. What is likely to happen to your business in the long run?
A) Your competitors are likely to change their menus to make their products more similar to yours.
B) Your success will invite others to open competing restaurants and ultimately your profits will be driven to zero.
C) If your success continues, you will be likely to establish a franchise and expand your market size.
D) If you continue to maintain consistent quality, you will be able to earn profits indefinitely.

Answer

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Question 3 

To maintain a monopoly, a firm must have
A) a perfectly inelastic demand.
B) an insurmountable barrier to entry.
C) marginal revenue equal to demand.
D) few competitors.

Answer

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Question 4 

The Fresh Kills Landfill ________.
 
  A) site will be converted into a public park
  B) is the United States' first landfill conversion project
  C) is New York's first and only modern sanitary landfill
  D) will remain open until late 2020
  E) was abandoned in the late 1970s

Answer

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Question 5 

Energy conservation in the United States ________.
 
  A) can be accomplished by changes in tax laws
  B) can be improved as individuals make conscious choices to reduce personal consumption
  C) can be accomplished only through changes in environmental laws
  D) will be a reality only if there is another major war
  E) is unlikely to ever occur

Answer

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Question 6 

Earth's first atmosphere was composed of
A) oxygen, hydrogen, and helium.
B) hydrogen and helium, with trace amounts of ammonia and methane.
C) gases from volcanic eruptions.
D) oxygen, water vapor, carbon dioxide, and methane.

Answer

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Question 7 

Stockholders
A) select the board of directors of a corporation.
B) select the employees of a corporation.
C) select the managers of a corporation.
D) all of the above

Answer

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Question 8 

A bond is a financial security that represents
A) ownership in a corporation.
B) the portion of profits paid to shareholders.
C) the interest rate paid on a share of stock.
D) a promise to repay a fixed amount of funds.

Answer

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Question 9 

The price elasticity of demand measures which of the following?
A) the slope of the demand curve
B) the rate at which demand changes when price changes
C) how responsive the quantity demanded is to changes in price
D) the percentage-slope of the demand curve
E) None of these correctly defines what price elasticity of demand measures.

Answer

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Question 10 

If an increase in income leads to in an increase in the demand for peanut butter, then peanut butter is
A) a neutral good.
B) a normal good.
C) a necessity.
D) a complement.

Answer

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