7/27/24, 4:53 PM Unit 8: Final Exam: EC
Unit 8: Final Exam
Due Jul 28 at 11:59pm
Points 200
Questions 51
Time Limit 180 Minutes
Attempt History
Attempt Time
LATEST Attempt 1 138 minutes
* Some questions not yet graded
Correct answers will be available on Jul 29 at 12am.
Score for this quiz: 100 out of 200 *
* Some questions not yet graded
Submitted Jul 27 at 7am
This attempt took 138 minutes.
Question 1
pts
The mercantilist school is dated roughly:
1500-1776
1756-1776
1776-1871
1520-1683
Question 2
pts
For mercantilists, the wealth of a nation was determined by what?
The amount of bullion possessed.
The quantity of goods and services produced.
Only the quantity of goods produced; services were not considered wealth.
The amount of labor available for production.
Question 3
pts
How did Thomas Mun view the issue of England’s balance of trade?
A nation should have a trade surplus in every type of good traded internationally.
A nation should have a trade surplus with every nation with which it trades.
, 7/27/24, 4:53 PM Unit 8: Final Exam: EC
the outflow of gold caused by a trade surplus will cause prices to rise and imports to fall.
the inflow of gold caused by a trade surplus will cause prices to fall and imports in increase.
the inflow of gold caused by a trade surplus will cause prices to rise and imports to increase.
Question 9
pts
The classical school is dated:
1500-1776
1756-1776
1776-1871
1756-1848
Question 10
pts
Who wrote An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776?
Adam Smith
David Hume
Sir William Petty
Francois Quesney
Question 11
pts
Adam Smith articulated the advantages of a division of labor. Which of the following was not one of the reas
Workers increase their skills by performing a single task repeatedly.
Workers will be happier in their work, and thus more productive.
Workers save time by not having to change tasks or move to a new work station.
It promotes technological advances in capital once specialization makes tasks routine.
Question 12
pts
The key to the invisible hand turning self interest into the social good is:
competition.
extensive government regulation.
cooperative economic behavior.
divine intervention.
Question 13
pts
Unit 8: Final Exam
Due Jul 28 at 11:59pm
Points 200
Questions 51
Time Limit 180 Minutes
Attempt History
Attempt Time
LATEST Attempt 1 138 minutes
* Some questions not yet graded
Correct answers will be available on Jul 29 at 12am.
Score for this quiz: 100 out of 200 *
* Some questions not yet graded
Submitted Jul 27 at 7am
This attempt took 138 minutes.
Question 1
pts
The mercantilist school is dated roughly:
1500-1776
1756-1776
1776-1871
1520-1683
Question 2
pts
For mercantilists, the wealth of a nation was determined by what?
The amount of bullion possessed.
The quantity of goods and services produced.
Only the quantity of goods produced; services were not considered wealth.
The amount of labor available for production.
Question 3
pts
How did Thomas Mun view the issue of England’s balance of trade?
A nation should have a trade surplus in every type of good traded internationally.
A nation should have a trade surplus with every nation with which it trades.
, 7/27/24, 4:53 PM Unit 8: Final Exam: EC
the outflow of gold caused by a trade surplus will cause prices to rise and imports to fall.
the inflow of gold caused by a trade surplus will cause prices to fall and imports in increase.
the inflow of gold caused by a trade surplus will cause prices to rise and imports to increase.
Question 9
pts
The classical school is dated:
1500-1776
1756-1776
1776-1871
1756-1848
Question 10
pts
Who wrote An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776?
Adam Smith
David Hume
Sir William Petty
Francois Quesney
Question 11
pts
Adam Smith articulated the advantages of a division of labor. Which of the following was not one of the reas
Workers increase their skills by performing a single task repeatedly.
Workers will be happier in their work, and thus more productive.
Workers save time by not having to change tasks or move to a new work station.
It promotes technological advances in capital once specialization makes tasks routine.
Question 12
pts
The key to the invisible hand turning self interest into the social good is:
competition.
extensive government regulation.
cooperative economic behavior.
divine intervention.
Question 13
pts
