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Economics Final Part 3 (2019) Flashcards | StudBud
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Economics Final Part 3 (2019)
Economics Final Part 3 (2019)
34 terms
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StudBud Administration
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223 plays
High school basic economics
Flashcards
34 cards
F
Practice quiz
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Host live
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Questions
34
Answers
1
What was the program the President proposed to bolster the US economy in the Great Depression?
Circular Flow Plan
Great Leap Foward
New Deal
Socialism
2
Which President promoted vast governmental involvement to resolve the Great Depression?
Andrew Johnson
Franklin Roosevelt
Lyndon Johnson
Theodore Roosevelt
3
Buying Mayfield instead of Edy's Ice Cream would be an example of which?
Inferior Good
Resource Prices
Population
Preference
4
Which type of government best implements a leave it alone principle expressed as laissez-faire?
Traditional
Free Market
Planned
Directed
5
For the law of supply what is occurring when robotic devices complete tasks?
gov. subsidies
price of related goods
number of sellers
technology
6
All employers in the US are required to match contributions employees MUST make for ______.
a Defined Pension Plan
a 401 k
Social Security
7
_____ is the situation in which prices decrease because money seems more valuable and stable.
Stagflation
Diminishing utility valuation
Inflation
Deflation
8
Eating canned soup instead of going to a restaurant for you birthday would is an example of:
an inferior good
parents who are cheapskates
a normal good
an optimal good
9
In which government decides which goods are produced?
Command
Traditonal
Capitalist
10
Not thinking your fifth cupcake tastes as good as the first is ________
Diminishing marginal utility
Decreasing happiness quotient
Deflation of the good's value
Diminishing complementary satisfaction
11
Lots of physical therapy practices in Florida to treat older patients is an example of:
complementary goods
population
cost of related goods
normal good
12
A ______ is when the following four stages occur: expansion, peak, recession, trough.
Stagflation
Business Cycle
Cost Push Inflation
Gross Productivity Diminishment
13
Employers are not required to match the contributions of an employee of which of the following?
401 k
SNAP (Food Stamps)
Social Security
14
__ is the situation when market prices rise because too much money is in circulation.
deflation
inflation
recession
Keynesianism
15
For the law of supply a new business opens with the same goods yours business . This is:
technology
number of sellers
governmental regulations
population
16
The Fed. Deposit Insurance Corp. will insure that ___ won't lose money put in bank accounts.
those individuals making deposit
elected officials in Congress
brokers trading stocks
17
Which allows the account holder to earn small amounts of interest on their deposits?
Savings Account
Defined Benefit Account
Money Market Account
18
Which best describes the economy of the United States?
Free Market
Traditional
Directed
Mixed
19
For the law of supply which of the following is related to price ceilings on rent?
number of sellers
gov. taxes
prices of related goods
government regulations
20
The Amish represent a command economy.
False
True
21
Which of the following has a “cancelled” item that can be used as a receipt?
CD
Dividend
Checking Account
Money Market Account
22
The Social Security tax paid by an employed American worker is __% of their salary.
6.2
8.1
5.8
4.5
23
_______ are shares of a corporation’s profit.
liquid assets
stocks
interest
dividends
24
A belief a society’s econ. problems are better solved by “expert planners” in the gov. is __.
Proletariatism
Bourgeois
Bureaucracy
Keynesianism
25
Paying a party protect you for specific types of loss is _____.
premium
liability
insurance
26
In which government are prices controlled by supply and demand?
Traditional
Mixed
Command
Free Market
27
Payment can be made in cash or in stocks for _____.
Dividends
Mutual Fund Profit
Social Security Benefits
28
______ is the study of economics with a focus on the choices made by individuals.
Microeconomics
Macromercantilism
Microphysiocracy
Macroeconomics
29
Which of the following prints federal notes?
The Bureau of Monogramming
The Bureau of the Mint
The Treasury Department
The Bureau of Engraving and Printing
30
When the economy declines usually with a downward slide for at least six months this is a _.
Recession
Hypergression
Degression
Regression
31
Which of the following is also known as free enterprise or capitalist?
Subsistence
Traditional
Market
Directed
32
________ is a legal body which is NOT considered to the same as be people who own it.
Collusion
Trust
Corporation
33
Money paid for insurance is ________.
a benefit plan
a premium
liquid assets
34
Which of the following is also known as planned or directed?
Bartered
Subsistence
Traditional
Command