CGA - Comprehensive Geriatric Assessment
CGA Test (Sandalwood Economics) QUESTIONS
AND ANSWERS 100% CORRECT | LATEST
UPDATE 2025
The ability to carry money around is what characteristic of money? - ANSWER
Portability
When households purchase goods from a business, that transaction takes place in
the _________ market? - ANSWER Product
Who started their business with a $5 college course? - ANSWER Ben Cohen
What is the largest expense in a typical household budget? - ANSWER Housing
If you take a loan for 6 years rather than 4 years, the payment will be _______? -
ANSWER Lower
If you take a loan for 6 years rather than 4 years, the total interest paid will be
_______? - ANSWER Higher
Purchasing stock has a _______ risk? - ANSWER High
Who makes policy for the Federal Reserve? - ANSWER Open Market
Committee
, CGA - Comprehensive Geriatric Assessment
What type of budget does the federal government have when they spend more
money than they take in? - ANSWER Deficit
The University of Florida expands their football stadium because more people
want tickets to the game. What is this an example of? - ANSWER Derived
Demand
Homeowners who install smoke detectors because they get a tax break is an
example of ________ ? - ANSWER Positive Externality
Medium of Exchange is a function of _______ ? - ANSWER Money
If a product costs $1.37 in raw materials, $0.25 in labor, $0.08 in taxes and $0.30
in entrepreneurial cost, what is the price of the product? - ANSWER $1.92
Advertising is an example of what type of competition? - ANSWER Non-price
Loans, credit cards and money- market accounts are all services that ______
provide to their customers. - ANSWER Banks
What economist came up with the theory of the invisible hand? - ANSWER
Adam Smith
If the equilibrium wage increases, what will happen to the number of workers
hired? - ANSWER It will Decrease
CGA Test (Sandalwood Economics) QUESTIONS
AND ANSWERS 100% CORRECT | LATEST
UPDATE 2025
The ability to carry money around is what characteristic of money? - ANSWER
Portability
When households purchase goods from a business, that transaction takes place in
the _________ market? - ANSWER Product
Who started their business with a $5 college course? - ANSWER Ben Cohen
What is the largest expense in a typical household budget? - ANSWER Housing
If you take a loan for 6 years rather than 4 years, the payment will be _______? -
ANSWER Lower
If you take a loan for 6 years rather than 4 years, the total interest paid will be
_______? - ANSWER Higher
Purchasing stock has a _______ risk? - ANSWER High
Who makes policy for the Federal Reserve? - ANSWER Open Market
Committee
, CGA - Comprehensive Geriatric Assessment
What type of budget does the federal government have when they spend more
money than they take in? - ANSWER Deficit
The University of Florida expands their football stadium because more people
want tickets to the game. What is this an example of? - ANSWER Derived
Demand
Homeowners who install smoke detectors because they get a tax break is an
example of ________ ? - ANSWER Positive Externality
Medium of Exchange is a function of _______ ? - ANSWER Money
If a product costs $1.37 in raw materials, $0.25 in labor, $0.08 in taxes and $0.30
in entrepreneurial cost, what is the price of the product? - ANSWER $1.92
Advertising is an example of what type of competition? - ANSWER Non-price
Loans, credit cards and money- market accounts are all services that ______
provide to their customers. - ANSWER Banks
What economist came up with the theory of the invisible hand? - ANSWER
Adam Smith
If the equilibrium wage increases, what will happen to the number of workers
hired? - ANSWER It will Decrease
