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Final Exam Chapters 1-8, 13 + Stock Market Game Flashcards | StudBud
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Final Exam Chapters 1-8, 13 + Stock Market Game
Final Exam Chapters 1-8, 13 + Stock Market Game
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Answers
1
Stocks carry less risk than mutual funds or bonds.
True
False
2
Country A has a comparative advantage in making cars, and Country B has a comparative advantage in making in trucks.
False
True
3
The USA has a ...
Mexico has a comparative advantage making cars.
All (red, blue, orange are right)
Absolute advantage in production of computers.
USA has a comparative advantage in production of computers.
4
Who are the primary (mostly) customers of the Federal Reserve?
Businesses
Commercial banks
c. Individuals
b. Government
5
What might explain point A?
Both blue and orange.
An earthquake.
new technologies.
Workers have gone on strike
6
Supply shift to the left
Is due to a new robot who can pick coffee beans faster.
Due to a storm destroying most of the coffee plants.
Both blue & orange.
Causing an increase in price.
7
By dividing up labor
(specialize)
, workers can be experts and be more
productive (make more).
False
True
8
A shift in demand below was caused by
Prices will rise NEXT week.
Increasing prices.
None of the above
Lowering of prices
9
Money supply includes
currency and coin
travelers' checks
deposits into checking account
All
10
Same question in Galileo student English, Price goes up, demand goes down....
True
False
11
Based on question 22 what should each country specialize in?
Country A Cars Country B Trucks
None neither had a comparative advantage.
Country A should do both
None of the above.
12
NASDAQ & Dow Jones are two places you can buy stocks.
True
False
13
Small cap companies are very safe because they are well established.
False
True
14
Mr. O'Connor can lift 300 pounds. Alan G. can lift only 120 pounds. Mr. O'Connor has a
comparative advantage.
False
True
15
In a market with
perfect competition
, prices are determined by the government.
True
False
16
A company gets money when someone sells their shares at a higher price.
True
False
17
The picture illustrates ________.
thinking at margin
specialization
A weird white guy.
absolute advantage
18
The SFPD regulates stocks traded on the internet in San Francisco.
True
False
19
What might cause Pizza restaurants to supply more at the same
price.
Wheat prices are at all time low. (input)
New pizza ovens are more efficient. (technology)
All (Red, blue, Orange)
Government plans to tax pizza for health reasons. (Policy)
20
The picture is a great example of
Inflation ;)
consumer demand meets supply
Diminishing Marginal Utility
GDP (Gross DeMan Pukes.....)
21
Country A has an absolute advantage in producing cars & trucks.
True
False
22
Diversifying your portfolio helps reduce risk.
True
False
23
A 25 year old should invest 80% in bonds and 20% in stocks while a 65 year old should invest 90% of their money in stock
False
True
24
Savings account is a great place to put your money for emergencies.
False
True
25
The Bakery's opportunity cost for pastry is lower than the Pizza Parlor .
False
True
26
Quantity demand moves along the demand curve in response to changes in
p
rice
False
True
27
Price goes up and supply goes down....
True
False
28
___________ forces tradeoffs because of limited resources.
a. Scarcity
b. Margin
d. Incentives
c. Markets
29
A tombstone ad could be found in a bankruptcy report.
False
True
30
The new price
Mr. O'Connor is handsome.
Went down
Went up
Remained the same.
31
Land, labor, capital are
Both red & blue
unlimited.
Scarce resources
Factors of production
32
What is the opportunity cost of moving from B to D?
Loss of some butter
Loss of some guns
None- you have both guns and butter
Mr. O'Connor you like never like explained this to me...jk
33
The rule of 72 says it will take 72 years for your money to double.
False
True
34
A GDP decline of 6 month is called a recession, a decline of more than that is called a depression.
False
True
35
More buyers than sellers causes the stock price to fall.
True
False
36
Volatile stocks have little risk and are usally companies that have been around a long time.
False
True
37
Retirement, college tuition, buying a home, start a business are all "realistic goals" for investers.
False
True
38
USA should specialize in computers and Mexico in cars.
False
True
39
Companies do not have to report the type of product or service they offer to be listed on the New York Stock Exchange.
False
True
40
Supply depends on the willingness and ability of producers to produce.
False
True
41
ETF prices can change throughout the day as they are exchanged on the market.
False
True
42
Banks function to bring together _______ and _______.
Mortgages, loans
savers and borrowers
government and capitalism
investors and borrowers
43
The three basic economic questions are: WHEN to produce, WHAT to produce, WHERE to produce
True
False
44
____________ of a decision is the value in time, money
(resources)
of the
next best alternative
....
opportunity cost
Tradeoff
Capital
Labor
45
The government has put a price ceiling on chocolate bars.
False
True
46
When you use a credit card you are borrowing from a bank.
False
True
47
A decline in GDP over a period of at least six months is called a depression.
False
True
48
Trade-offs are necessary because resources are limited.
False
True
49
North Korea's government answers the three basic economic questions.
True
False
50
The point at which supply and demand meet is called market equilibrium
False
True
51
It is a great idea to invest in the stock market to reduce your credit card debt.
True
False
52
___________ is the study of how people use their limited resources
b. Scarcity
c. Incentives
d. Economics
Political science
53
A 23 year old should invest in large cap companies, bonds and savings account only.
False
True
54
Compound interest- earn interest not only on the amount you have saved, but also on the interest you've already earned
False
True
55
Common stock offers voting rights.
True
False
56
Traditional economies will change over time.
True
False
57
People's wants are always greater than their needs. Best example of this is
Scarcity forces tradeoffs
Incentives matter
Thinking at margin
Trade make people better off.
58
You can
SUBSTITUTE
burgers for chicken at a barbecue...
True
False
59
A savings account is a great place to leave your life saving for 20+ years because it will keep up with inflation.
True
False
60
The price floor lead to a surplus of 400 chocolate bars.
True
False
61
The market structure where supplier has the most control over the price is a monopoly.
False
True
62
Which of the 7 economic principles
best
explains the scenario below?
Thinking at Margin.
Cost Versus Benefits
Scarcity Forces Tradeoffs
Incentives Matter.
63
A price ceiling caused the shortage.
False
True
64
Preferred stock usually come with a dividend.
True
False
65
The Price Ceiling lead to a shortage of 40.
True
False
66
The Pizza Parlor has a comparative advantage in making crusts.
True
False
67
What might explain point X?
Improved technology.
Hire more workers
An earthquake.
Government allows more immigration.
68
Most economies are most efficient when they have full employment
False
True
69
Initial Public Offerings have little risk.
True
False
70
________ is an example of a market structure.
All
Monopolistic competition.
Oligopoly
Perfect competition
71
The law of demand states that as a quantity demanded decreases prices increases
False
True
72
Gross Domestic Product is the total number of goods & services sold.
True
False
