ECONOMICS QUESTIONS AND GRADED ANSWERS, 100%
GUARANTEE
Economists use changes in GDP to measure - any economic growth or shrinkage
Which best describes why a company issues stocks? - to raise capital
The Fed's aim in responding to a recession is to decrease - decreasing government
spending.
Jacob is considering buying a new car. Which nonrenewable resource should influence the
decision? - petroleum
Which statement best explains a scholarship? - A scholarship is aid given to a student by
an institution.
Which organization created a shared economy? - the European union
An annual percentage rate, or APR, represents how much - interest is paid over a year
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue
production of shirts to focus on jeans. For this company, the $15 is the _______, and
discontinuation of shirt production is considered their __________. - production cost;
opportunity cost
Do all accounts serve the same function? Why or why not? - No, some accounts are for
saving and others are for investing
People who oppose labor unions believe that unions - keep more qualified workers from
being hired
, The graph shows the market for graphic T-shirts.
What does the graph show about the relationship between a product and its price? - As the
amount of a product goes up, the price goes up.
As the amount of a product goes down, the price goes up.
As the interest in a product goes up, the price goes up.
As the interest in a product goes down, the price goes up.
Which best describes why a company issues stocks? - to raise capital
Who was Adam Smith? - He was a philosopher who promoted the idea of free enterprise.
Savings should be treated as another type of - net income.
Embargoes, quotas, and standards are tools that countries use - to restrict imports
When it spends money on education, a government is trying to - meet a social need and
improve the economy
How does a socialist government with a command economy manage its economy? - The
government controls factories and other forms of production.
What is one example of a closed economy? - a restricted system that blocks trade with
international partners
Which best describes how advertising influences consumer choice in an oligopoly? -
Advertising undermines competition
GUARANTEE
Economists use changes in GDP to measure - any economic growth or shrinkage
Which best describes why a company issues stocks? - to raise capital
The Fed's aim in responding to a recession is to decrease - decreasing government
spending.
Jacob is considering buying a new car. Which nonrenewable resource should influence the
decision? - petroleum
Which statement best explains a scholarship? - A scholarship is aid given to a student by
an institution.
Which organization created a shared economy? - the European union
An annual percentage rate, or APR, represents how much - interest is paid over a year
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue
production of shirts to focus on jeans. For this company, the $15 is the _______, and
discontinuation of shirt production is considered their __________. - production cost;
opportunity cost
Do all accounts serve the same function? Why or why not? - No, some accounts are for
saving and others are for investing
People who oppose labor unions believe that unions - keep more qualified workers from
being hired
, The graph shows the market for graphic T-shirts.
What does the graph show about the relationship between a product and its price? - As the
amount of a product goes up, the price goes up.
As the amount of a product goes down, the price goes up.
As the interest in a product goes up, the price goes up.
As the interest in a product goes down, the price goes up.
Which best describes why a company issues stocks? - to raise capital
Who was Adam Smith? - He was a philosopher who promoted the idea of free enterprise.
Savings should be treated as another type of - net income.
Embargoes, quotas, and standards are tools that countries use - to restrict imports
When it spends money on education, a government is trying to - meet a social need and
improve the economy
How does a socialist government with a command economy manage its economy? - The
government controls factories and other forms of production.
What is one example of a closed economy? - a restricted system that blocks trade with
international partners
Which best describes how advertising influences consumer choice in an oligopoly? -
Advertising undermines competition
