ECONOMICS EXAM QUESTIONS AND GRADED ANSWERS,
100% GUARANTEE
Economists use GDP to measure - not the balance of trade with other countries.
any economic growth or shrinkage.
Which best describes how advertising influences consumer choice in an oligopoly? - not
Advertising coaxes people to buy new products.
Advertising undermines competition.
John Maynard Keynes developed new economic theories in response to the - Great
Depression of the 1930s.
Hayek believed that the economy could be hard to measure because - individuals have the
power to make decisions and are unpredictable.
An annual percentage rate, or APR, represents how much - interest is paid over a year.
If a computer costs $600.00 and the sales tax rate is 7.5 percent, what is the total cost of the
computer? - $645.00
A certificate of deposit pays a higher interest rate than a savings account because the money is -
kept by banks for a longer time period.
Which best describes why a company issues stocks? - not Which best describes why a
company issues stocks?
to raise capital
, Demand-pull inflation occurs when - not the price of goods rises suddenly and extremely
fast.
consumers show an interest in purchasing more goods.
The higher a country's gross domestic product (GDP), the more likely it is that the country -
not is wealthy.
is developed.
If expansionary taxation policies are left unchecked, which is the most likely result? -
reduced government spending
What is the price at which equilibrium is achieved? - $9
Who was Adam Smith? - He was a philosopher who promoted the idea of free enterprise.
In which situation would a savings account be the best investment to earn interest? -
saving in July to buy holiday gifts in a few months
Savings should be treated as another type of - not short-term goal.
net income.
A mixed-market economy is one in which - there are strict limits on economic choice.
An income is measured as - not any money received at any time.
an amount received in a specific period.
Which statement best explains a scholarship? - A scholarship is aid given to a student by
an institution.
100% GUARANTEE
Economists use GDP to measure - not the balance of trade with other countries.
any economic growth or shrinkage.
Which best describes how advertising influences consumer choice in an oligopoly? - not
Advertising coaxes people to buy new products.
Advertising undermines competition.
John Maynard Keynes developed new economic theories in response to the - Great
Depression of the 1930s.
Hayek believed that the economy could be hard to measure because - individuals have the
power to make decisions and are unpredictable.
An annual percentage rate, or APR, represents how much - interest is paid over a year.
If a computer costs $600.00 and the sales tax rate is 7.5 percent, what is the total cost of the
computer? - $645.00
A certificate of deposit pays a higher interest rate than a savings account because the money is -
kept by banks for a longer time period.
Which best describes why a company issues stocks? - not Which best describes why a
company issues stocks?
to raise capital
, Demand-pull inflation occurs when - not the price of goods rises suddenly and extremely
fast.
consumers show an interest in purchasing more goods.
The higher a country's gross domestic product (GDP), the more likely it is that the country -
not is wealthy.
is developed.
If expansionary taxation policies are left unchecked, which is the most likely result? -
reduced government spending
What is the price at which equilibrium is achieved? - $9
Who was Adam Smith? - He was a philosopher who promoted the idea of free enterprise.
In which situation would a savings account be the best investment to earn interest? -
saving in July to buy holiday gifts in a few months
Savings should be treated as another type of - not short-term goal.
net income.
A mixed-market economy is one in which - there are strict limits on economic choice.
An income is measured as - not any money received at any time.
an amount received in a specific period.
Which statement best explains a scholarship? - A scholarship is aid given to a student by
an institution.
