Over the past several decades, what has been true about inflation in the United States? A) Inflation has been very stable. B) The nation has experienced persistent deflation. C) Inflation rates have been consistently negative. D) Inflation rates have been consistently positive. ANSWER D
Date: September 2nd, 2020
Economics is best defined as the study of A) financial decision-making. B) inflation, unemployment, and economic growth. C) the choices made by people faced with scarcity. D) how consumers make purchasing decisions. ANSWER C
Date: September 2nd, 2020
According to the text, minimum-wage laws cause increases in A) productivity. B) employment possibilities. C) poverty. D) structural unemployment. ANSWER D
Date: September 2nd, 2020
According to the above figure, what will the price level be in the new long-run equilibrium? A) Less than 100 B) 115 C) 100 D) 110 ANSWER B
Date: September 2nd, 2020
Economics is the study of A) the role of money in markets. B) how government officials decide which goods and services are produced. C) how society uses limited resources. D) how to invest in the stock market. ANSWER C
Date: September 2nd, 2020
Assume that a country has had a relatively steady growth of aggregate real GDP. A higher population growth tends to A) increase the level of economic freedom. B) increase the level of dead capital. C) increase the growth of per capita real GDP. D) reduce the growth of per capita real GDP. ANSWER D
Date: September 2nd, 2020
If population growth occurs while jobs are difficult to obtain or labor force participation does not increase A) there may be little or no increase in a nation’s labor resources. B) per capita GDP is likely to increase sharply. C) economic growth will be robust because any population gain is a plus. D) a nation’s […]
Date: September 2nd, 2020
The rate of growth in real GDP minus the rate of growth of the population is the A) rate of growth of nominal GDP. B) population growth rate. C) rate of growth of per capita real GDP. D) unemployment rate. ANSWER C
Date: September 2nd, 2020
Refer to the figure above. Which of the following statements is true when the credit demand curve is CD1 and the credit supply curve is CS1? A) At all rates of interest above 3% there will be a tendency for real interest rates to fall. B) At all rates of interest above 4% there will […]
Date: September 2nd, 2020
Which of the following would be considered the least liquid asset? A) shares of stock B) travelers checks C) currency D) checkable deposits ANSWER A
Date: September 2nd, 2020
