In economics, the term “autonomous” means A) disposable income. B) non-economic related. C) existing independently. D) cash payments. ANSWER C
Date: September 2nd, 2020
The benefits from research and development activities A) spill over to others, including foreign residents. B) are limited to the firms investing in similar research and development projects. C) are limited to the nation in which the research and development is taking place. D) are limited to the firm winning a patent. ANSWER A
Date: September 2nd, 2020
________ is defined as the change in quantity between two dates. A) Growth rate B) Improvement ratio C) Development ratio D) Progress index ANSWER A
Date: September 2nd, 2020
A price tag of $400 for a tablet device is an example of money as A) a store of value. B) a time deposit. C) a unit of accounting. D) a medium of exchange. ANSWER C
Date: September 2nd, 2020
To be accepted as money, an item must perform all of the following functions EXCEPT A) be a medium of exchange. B) serve as a store of value. C) be easily reproduced. D) serve as a standard of deferred payment. ANSWER C
Date: September 2nd, 2020
Which of the following is likely to shift the market demand curve for school textbooks to the right? A) A fall in the price of school textbooks B) An increase in school tuition fees C) A fall in the total income of all consumers D) An increase in the enrollment rates in high schools […]
Date: September 2nd, 2020
Fiscal policy A) uses the tool of interest rates to stimulate private savings. B) uses the tools of taxation and spending in an effort to address inflation and unemployment. C) uses the tool of the exchange rate to discourage imports. D) uses the tool of business regulation to increase economic efficiency. ANSWER B
Date: September 2nd, 2020
Suppose a country has no trade with other countries and people can borrow as many funds as they want at the current interest rate. An increase in the price level will generate A) a decrease in total planned real expenditures because of the real-balance effect. B) a decrease in total planned real expenditures because the […]
Date: September 2nd, 2020
Real GDP refers to GDP adjusted: A) for changes in ruling political party. B) for changes in tax rates. C) for changes in net imports. D) for changes in prices. ANSWER D
Date: September 2nd, 2020
When money provides a yardstick that allows individuals to compare the relative values of goods and services, it is functioning as a A) standard of deferred payment. B) medium of exchange. C) unit of accounting. D) store of value. ANSWER C
Date: September 2nd, 2020
