PLATO / Edmentum End of Semester
Test : Economics Exam Q’s and A’s
The Northville School Board has proposed this budget for the upcoming
school year: - -upgrading the computer lab hardware, getting new
instruments
- A company is struggling to finish the required accounting work for its
financial year-end. The employees are unwilling to stay late to complete the
work. If the company does not complete its work, it will be in serious trouble.
So, the managers decide to pay the staff a bonus for every hour they stay
during this period. After the employees worked extra hours for a few days,
the work was completed and everyone was happy. What was the incentive
for the employees in this scenario? - -money
- Which two sentences describe incentives? - -The person to complete the
work first will be rewarded. Harry's boss also announces that people working
overtime will be eligible for a bonus.
- John works for a factory and receives a weekly paycheck. He typically
places 3% of each paycheck into a bank savings account. The money placed
in the savings account ______ the economy.
In addition to providing savings accounts to customers, like John, the bank
invests money in several businesses. The money that the bank invests ____
the economy. - -leaks out from, is injected back into
- The government of a country has introduced a few economic policies for
the current financial year. Which of these policies is John Maynard Keynes
most likely to disagree with? - -Food exporters can export as much wheat as
they want, while in the past they were limited to 50 tons.
Entrepreneurs are no longer restricted from importing raw materials.
- What is money supply? - -the total amount of money circulating in the
economy
- Match the scenarios with the economic concepts they illustrate. - -price of
gold = substitution
price of gas = income
A new factory in a village provides livelihoods = positive
A new factory in a village causes noise pollution = negative
- What economic concept is applied in this statement?
Test : Economics Exam Q’s and A’s
The Northville School Board has proposed this budget for the upcoming
school year: - -upgrading the computer lab hardware, getting new
instruments
- A company is struggling to finish the required accounting work for its
financial year-end. The employees are unwilling to stay late to complete the
work. If the company does not complete its work, it will be in serious trouble.
So, the managers decide to pay the staff a bonus for every hour they stay
during this period. After the employees worked extra hours for a few days,
the work was completed and everyone was happy. What was the incentive
for the employees in this scenario? - -money
- Which two sentences describe incentives? - -The person to complete the
work first will be rewarded. Harry's boss also announces that people working
overtime will be eligible for a bonus.
- John works for a factory and receives a weekly paycheck. He typically
places 3% of each paycheck into a bank savings account. The money placed
in the savings account ______ the economy.
In addition to providing savings accounts to customers, like John, the bank
invests money in several businesses. The money that the bank invests ____
the economy. - -leaks out from, is injected back into
- The government of a country has introduced a few economic policies for
the current financial year. Which of these policies is John Maynard Keynes
most likely to disagree with? - -Food exporters can export as much wheat as
they want, while in the past they were limited to 50 tons.
Entrepreneurs are no longer restricted from importing raw materials.
- What is money supply? - -the total amount of money circulating in the
economy
- Match the scenarios with the economic concepts they illustrate. - -price of
gold = substitution
price of gas = income
A new factory in a village provides livelihoods = positive
A new factory in a village causes noise pollution = negative
- What economic concept is applied in this statement?
