Concepts
Mastery
Questions
MACROECONOMICS
0%
1
INTEREST RATES
100%
2
100%
3
100%
4
100%
6
100%
7
GROSS DOMESTIC
PRODUCT
HISTORIC ECONOMIC
DATA
DEFINITION OF
ECONOMICS
LAW OF DEMAND
Score: 6 / 7
5
Concept: MACROECONOMICS
Mastery
0%
Questions
1
1.
The two frameworks conventional economists generally use to analyze macroeconomic issues are
A. the inflation and the unemployment frameworks
B. the short-run and the long-run frameworks
C. the business cycle and the growth cycle frameworks
D. the stagnationist and the Post-Keynesian frameworks
Incorrect:
The Correct Answer is: B.
Concept: INTEREST RATES
Mastery
2.
100%
Questions
2
The relationship between real and nominal interest rate can be expressed by
A. real interest rate = nominal interest rate + inflation
B. real interest rate = inflation - nominal interest rate
C. real interest rate = nominal interest rate - inflation
D. The real interest rate cannot be calculated.
Correct:
The Correct Answer is: C.
Concept: GROSS DOMESTIC PRODUCT
Mastery
100%
Questions
3
3.
Which of the following economic activities would be included in the U.S. domestic gross product (GDP)?
A. Illegal drug sales
B. Pure services, such as haircuts
C. Illegal prostitution
D. Work performed and paid for in cash to avoid income tax
Correct:
The Correct Answer is: B.
Concept: HISTORIC ECONOMIC DATA
Mastery
100%
Questions
4
4.
Cyclical unemployment is defined as unemployment that results from
A. fluctuations in economic activity
5
B. structural changes in the economy
C. changes in technology
D. the aging of the population
Correct:
The Correct Answer is: A.
5.
The longest business cycle expansion in U.S. history occurred in the 10 years from
A. 1919 until 1929
B. 1938 until 1948
C. 1959 until 1969
D. 1991 until 2001
Correct:
The Correct Answer is: D.
Concept: DEFINITION OF ECONOMICS
Mastery
100%
Questions
6
6.
Economics is the study of how
A. governments allocate resources in the face of constraints
B. government policies can be used to meet individuals' wants and desires
C. human beings coordinate their wants and desires
D. scarce resources are allocated to their most productive uses
Correct:
The Correct Answer is: C.
Concept: LAW OF DEMAND
Mastery
100%
Questions
7
7.
Given that diesel cars get much better gas mileage than the typical car, an increase in the price of gasoline would be expected to
A. increase the demand for diesel cars
B. decrease the demand for gasoline
C. decrease the demand for diesel cars
D. increase the demand for gasoline
Correct:
The Correct Answer is: A.
You May Also Find These Documents Helpful
-
10. Even a constant©\dollar measure of gross national product cannot fully reflect the well©\being of an economy because it cannot take into account:…
- 363 Words
- 2 Pages
Good Essays -
4. A type of unemployment in which workers are in-between jobs or are searching for new and better jobs is called _______ unemployment:…
- 895 Words
- 4 Pages
Good Essays -
d. Assume that inflation in London is 1.250%, the same as in New York. Determine the real rate of interest in London and in New York.…
- 484 Words
- 2 Pages
Powerful Essays -
If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent, this…
- 516 Words
- 6 Pages
Satisfactory Essays -
(d) What is the growth rate of chain-weight real GDP? You may use either the…
- 1095 Words
- 5 Pages
Good Essays -
3. Which of the following economic activities would be included in the U.S. domestic gross product (GDP)?…
- 243 Words
- 1 Page
Satisfactory Essays -
When looking at a demand curve for a particular product. The slope falls downward from…
- 616 Words
- 9 Pages
Powerful Essays -
If objectivity in the construction of news stories is thought of as presenting the facts and…
- 696 Words
- 10 Pages
Satisfactory Essays -
rhymes, and stories from a variety of cultures for a research project. He posts a request…
- 1447 Words
- 16 Pages
Satisfactory Essays -
Step 2 of the planning process is the generation of alternative plans that may be used to…
- 864 Words
- 14 Pages
Satisfactory Essays -
What is one of the reasons that enculturation is considered as a barrier to critical…
- 616 Words
- 9 Pages
Satisfactory Essays -
and come up with a treatment plan to cure the illnesses. Nathan also focuses on the…
- 2656 Words
- 19 Pages
Satisfactory Essays -
Week 1 Knowledge Check Concepts The Stakeholder Approach to Social Responsibility. Mastery Score: 15/18 Questions 0% 1 2 100% 3 4 5 67% 6 7 8 Company Mission 100% 9 10 11 Company Goals and Objectives 100% 12 13 Three Levels of Strategy â Corporate, Business-Level, Functional 100% 14 15 Strategic Management Process 100% 17 18 Sarbanes-Oxley Act of 2002 Management Ethics 16 Concept: The Stakeholder Approach to Social Responsibility. Concepts Mastery The Stakeholder Approach to Social Responsibility.…
- 1281 Words
- 13 Pages
Satisfactory Essays -
The ___________ played a key role in spreading Sumerian culture beyond the boundaries of Mesopotamia.…
- 891 Words
- 4 Pages
Satisfactory Essays -
8. The type of listening that is aimed at emotionally supporting and helping the speaker is called____________________ listening.…
- 1504 Words
- 7 Pages
Good Essays