var init = { 'questions': [ { 'question': '1) Which of the following is the best definition of economics?','answers': [ 'a) The study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided.', 'b) The study of how consumers spend their income.', 'c) The study of how business firms decide what inputs to hire and what outputs to produce.', 'd) The study of how the Federal government allocates tax dollars.', ], 'correctAnswer' : 1, 'questionID' : 815 }, { 'question': '2) An economic consequence is:','answers': [ 'a) The total cost to society of producing an additional unit of a good or service.', 'b) A cost or benefit resulting from some activity or transaction that is imposed or bestowed upon parties outside the activity or transportation.', 'c) The effects that the acts of producers or consumers have on one another including the unanticipated side effects of calculated courses of action.', 'd) A problem intrinsic to public goods: The good or service is so costly that its provision generally does not depend on whether or not a single person pays.', ], 'correctAnswer' : 3, 'questionID' : 816 }, { 'question': '3) The concept of opportunity cost:','answers': [ 'a) Is relevant only for a capitalist economy like the United States.', 'b) Suggests all our wants can be achieved.', 'c) Would be irrelevant if we eliminated poverty.', 'd) Suggests a major increase in public health-care spending mean an expansion in other areas will be harder to achieve.', ], 'correctAnswer' : 4, 'questionID' : 817 }, { 'question': '4) Which of the following was not an economic reason that explains why the North and South were willing to fight in 1861?','answers': [ 'a) Emancipation of slaves would mean a large immediate and future loss of wealth to be borne only by the slaveholders.', 'b) Both the North and South anticipated that the gains from fighting were greater than the anticipated costs.', 'c) The North realized that the war would greatly expand their iron and steel industries.', 'd) Emancipation of slaves with compensationrom the government would shift the burden of immediate loss to the taxpayers with a largeer share of the burden falling on the North.', ], 'correctAnswer' : 4, 'questionID' : 818 }, { 'question': '5) When one is completing a decision grid to discover the most economical (best) choice, the first step is to:','answers': [ 'a) Identify the opportunity cost.', 'b) Determine your criteria or goals.', 'c) Evaluate your alternatives (choice) based on the goals.', 'd) Identify and define your problem.', ], 'correctAnswer' : 4, 'questionID' : 819 }, ], 'resultComments' : { perfect: 'Excellent!', excellent: 'Great job!', good: 'Nice work.', average: 'Not too bad. You may want to review the lesson and try again.
', bad: 'You should go back and review the lesson.', poor: 'You should go back and review the lesson.', worst: 'You should go back and review the lesson.' } };