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Economics 3.13 Quiz Flashcards | StudBud

Explore/Economics 3.13 Quiz

Economics 3.13 Quiz

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Questions 7

Answers

1
Which is an example of a fiscal policy?
Banks raise interest rates.
The government cuts taxes.
A union goes on strike.
A company lays off workers.
2
Which is one result of international trade?
Trade reduces competition.
Trade creates new markets.
Trade drives prices higher.
Trade increases protectionism.
3
Which benefit is the result of competition?
increased efficiency
incentive to work harder
development of new markets
control of the business cycle
4
Which best explains the standard of living?
the set of rules for homeownership
the rate of inflation for prices of normal goods
how much an average person can afford to buy
a measurement of tax levels
5
Which best explains why Amazon can sell books more cheaply than local bookstores?
Amazon makes money selling other goods besides books.
Amazon is able to buy all or most the books printed by a publisher.
Amazon advertises very cheaply through its own Web site.
Amazon offers books that nobody else carries.
6
Which is an example of a protectionist trade policy?
unions
sales taxes
the minimum wage
tariffs
7
Which comes after a period of recession in the business cycle?
a drought
recovery
stagflation
a boom