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Economics
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Chapter 12 Evaluating the Economy
Flashcards
25 cards
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Practice quiz
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Host live
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Questions
25
Answers
1
You should complete a FAFSA form is you want
financial aid for college
to donate money to a charity
automobile or property insurance
to live in an apartment
2
The country's output is measured by what method?
Stocks and Bonds
GDP and Price Index
Money in the FED
GDP
3
In a Market Economy Economic Growth affects our daily life with....
Jobs, monetary prices, production and trade
laws and regulations
price of goods and spending and regulation
decline in technology
4
In the circular flow of economic activity what 3 sectors affect GDP
consumers, business,and government
households/consumers
firms, and government
consumers and investors
5
Friedrich August Von Hayek wrote which book
The Road to Wealth
Think Rich and get Rich
Don't know much about Economics
The Road to Serfdom
6
an unincorporated business owned and operated by two or more people
partnership
corporation
sole proprietorship
mutual fund
7
A population pyramid shows?
census count of population
age, sex, and fertility
infant mortality rates
age, race, gender
8
Your Subjective Final is due
December the 7th
December the 8th
December the 6th
December the 12th
9
in most population pyramids which gender lives the longest?
women because they are wise and womenly
men because they are bold and manly
men out live the women.
they are both equal
10
What is a car can be ____
a budget
a financial institution
collateral
intrest
11
In most states it is illegal to drive without ________
health insurance
liability insurance
disability insurance
property insurance
12
As a borrower you want to pay_____
a high interest rate
any of the above
a varying interest rate
a low interest rate
13
GDP after it has been adjusted for inflation is called
real GDP
Output expenditure
net GDP
current GDP
14
How much money should you save before you start renting an apartment?
enough to pay the last month's rent
enough to pay the security deposit
enough to pay the first month's rent
all of the above
15
Who pays the interest on a loan?
a credit union
a lender
a creditor
a borrower
16
Why is it important to live on a budget?
Living on a budget will make you a financial adviser.
living on a budget will eliminate your expenditures.
living on a budget will increase your income.
Living on a budget will make your life easier.
17
GDP=dollar value of all goods and services, and structures within a country's for how long?
3 years
2 years
12 months
18 months
18
What is the algebraic equation for GDP?
GDP= C+D+G=(m-x)
GDP=C+I+G+(m-x)
GDP= C=I=G+(e-m)
GDP=G+C+D+(m-x)
19
The factors of production are____
government, consumer, and investments
stocks, savings and capital
land, capital, labor, and entrepreneurship
stocks, bonds, savings, and interest
20
which of the following is guaranteed only by a promise?
an unsecured loan
a secured loan
a Certificate of Deposit (CD)
a credit score
21
TINSTAFL means
there is no such thing as Florida
there is no such thing as a federal labor Union
there is no such thing a an AFL championship
there is no such thing as a free lunch
22
You have a passbook account therefore, you are a(n)
borrower
Saver
investor
credit counselor
23
Can Money Buy Happiness
Yes, can buy me all the retro Jordans I want.
No, rich people are not happy people.
Yes, money can make you happy if you give it to others.
No, money is evil.
24
If your portfolio is diversified you have ___ investments?
many different
preferred and common
financially based
completely successful
25
An unincorporated business owned and ran by a single person
partnership
common stock
sole proprietorship
corporation
