Test 3 - Econ

Question 1

Farmers Bonald Jrump and Toe Diden sell pumpkins at a farmers market. What type of competitive market are they in?

Accepted Answer

Perfect Competition

Question 2

X is what type of market?

Accepted Answer

Monopolistic Competition

Question 3

Which type of business could have public stockholders?

Accepted Answer

Corporation

Question 4

Z is what type of market?

Accepted Answer

Monopoly

Question 5

The interest rate a bond pays to the buyer is a measure of bond-issuers risk.

Accepted Answer

True

Question 6

If a company does business across several countries they are known as a?

Accepted Answer

Multinational company

Question 7

Y is what type of market?

Accepted Answer

Oligopoly

Question 8

What is the primary tool labor unions employ to improve their members strength in a market economy?

Accepted Answer

Collective bargaining

Question 9

Many entrepreneurs in an economy lead to...?

Accepted Answer

Innovations

Question 10

Which one of these would make it harder for a business to control the price and output?

Accepted Answer

Competition

Question 11

Local utility boards are loosley regulated

Accepted Answer

False

Question 12

AT&T, Verizon, T-Mobile are in what type of market?

Accepted Answer

Oligopoly

Question 13

"Natural monopoly" refers to....?

Accepted Answer

An efficient outcome for a unique market with one supplier

Question 14

W is what type of market?

Accepted Answer

Perfect Competition

Question 15

An option which represent an oligopoly

Accepted Answer

OPEC, NFL Franchises

Question 16

What would be the effect in the labor market if a company paid less?

Accepted Answer

Fewer available workers

Question 17

Nonprofit businesses are exempt from paying:

Accepted Answer

Taxes

Question 18

Which of the following a negative externality people driving cars?

Accepted Answer

Traffic

Question 19

If I'm a business owner in a capitalist economy, which behavior is my primary focus?

Accepted Answer

Profit

Question 20

When I say "I own a stock", what do I mean?

Accepted Answer

I own a piece of a company

Question 21

A public company needs money now. Which option would be the most economically efficient way to achieve my goal?

Accepted Answer

Issue more stocks

Question 22

There are certain markets in which it is more efficient to allow a monopoly.

Accepted Answer

True

Question 23

A bond is a form of debt.

Accepted Answer

True

Question 24

Coca-Cola Mexico would be example of what type of business?

Accepted Answer

Multinational Corporation

Question 25

The Bank of Lies (Bama fans) and the Bank of Losers (Florida fans) merge. This would be an example of:

Accepted Answer

Horizontal merger

Question 26

In which market does the government allow a monopoly?

Accepted Answer

Utilities

Test 3 - Econ

Questions 26

Test 3 - Econ

Questions 26