Final: Comprehensive MCQ
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,Online Economics Final Exam- Multiple
Choice
Question 1
Economic decisions involve doing what with resources to produce goods and services for
people to consume?
A. Allocating
B. Marginalizing
C. Renewing
D. Satisfying
Correct Answer
A. Allocating
Question 2
Economics is about the production of goods and services, which requires the allocation of
what?
A. Benefits
B. Consumption
C. Resources
D. Utility
Correct Answer
C. Resources
Question 3
In an economic system, decisions need to be made about productive resources and which
of the following?
A. Allocation
B. Growth
C. Protection
D. Sustainability Correct Answer
A. Allocation
Question 4
Which of these government policies pursues the economic goal of equity?
A. Protecting consumers from fraud
B. Providing welfare benefits
C. Preventing monopolies
, D. Ending a recession
Correct Answer
B. Providing welfare benefits
Question 5
Which of these government policies pursues the economic goal of growth?
A. Keeping taxes low
B. Increasing the money supply
C. Borrowing money using bonds
D. Protecting consumers from fraud
Correct Answer
B. Increasing the money supply
Question 6
Which of these government policies pursues the economic goal of freedom?
A. Ending a recession
B. Avoiding a budget deficit
C. Increasing the money supply
D. Protecting consumers from fraud Correct Answer
D. Protecting consumers from fraud
Question 7
What is the purpose of a free-market system?
A. To protect the conditions that enable
specialization
B. To stimulate the growth of the gross domestic product
C. To raise the standard of living for everyone in the country
D. To allow consumers and producers to make their own
decisions Correct Answer
D. To allow consumers and producers to make their decisions
Question 8
Which of these is one of the principles of a free-market system?
A. The gross domestic product must be as large as
possible.
B. The government must prevent consumers from being
coerced.