PLATO / Edm en tum En d of Sem ester Test
Econom ics Questions w ith 100% Ver ifi ed Cor r ect
Answ er s
1. The Northville School Board has proposed this budget for the upcoming
school year
Correct upgrading the computer lab hardware, getting new instruments
2. A company is struggling to finish the required accounting work for its
finan-cial 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?
Correct money
3. Which two sentences describe incentives?
Correct 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.
1/
8
, 4. 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.
Correct leaks out from, is injected back into
5. 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?
Correct 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.
6. What is money supply?
Correct the total amount of money circulating in the economy
7. Match the scenarios with the economic concepts they illustrate.
Correct 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
2/
8
Econom ics Questions w ith 100% Ver ifi ed Cor r ect
Answ er s
1. The Northville School Board has proposed this budget for the upcoming
school year
Correct upgrading the computer lab hardware, getting new instruments
2. A company is struggling to finish the required accounting work for its
finan-cial 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?
Correct money
3. Which two sentences describe incentives?
Correct 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.
1/
8
, 4. 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.
Correct leaks out from, is injected back into
5. 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?
Correct 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.
6. What is money supply?
Correct the total amount of money circulating in the economy
7. Match the scenarios with the economic concepts they illustrate.
Correct 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
2/
8
