Which would be an example of a positive externality?

someone playing loud music everyone likes

Which of the following best describes structural unemployment?

people who have no real skills at all

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Economics Final Exam Review

80 termsStudBud Administration7,925 plays

Econ final

Flashcards80 cardsFPractice quizPHost liveL

Questions 80

Answers

1
A production possibility curve shows that all things in life involve
costs
a tradeoff
energy
effort
2
What is the leading cause of death in Panama?
violence
heart disease
stroke
colon cancer
3
Which state has the honeybee as its official insect?
Texas
Nebraska
Georgia
New Mexico
4
How heavy is Shaquille O'Neil?
287
388
315
344
5
Where is the tallest roller coaster in the world (456 feet high)?
Florida
Germany
New Jersey
Australia
6
The Communist Manifesto talked about struggle between
govts and citizens
whites and blacks
rich and poor
workers and owners
7
Which of the following could be called an in-kind subsidy or payment?
TANF
Social Security
WIC
food stamps or SNAP
8
The soft drink industry is a good example of a
monopoly
oligopoly
monopolistic competition
duopoly
9
Which number is closest to our national debt?
7.8 Kabillion
14 trillion
36 trillion
20 trillion
10
All of the following are Lil Flip albums EXCEPT
The Black Dr. Kevorkian
Undaground Legend
Connected
Lil Red Ridin da Hood
11
Who regulates the Federal Reserve?
various federal courts
the president
no one
congress
12
Fiscal policy is controlled by
president and congress
federal reserve
president only
state governments
13
Laissez faire is an economic term meaning what?
leave it alone
demand creates supply
competition is good
supply equals demand
14
All of the following are factors of production EXCEPT
labor
government permits
land
entrepreneurship
15
Which would be an example of a positive externality?
a new law requiring strict air pollution controls
someone playing loud music everyone likes
a thriving stock market
increased police presence
16
Which of the following best describes structural unemployment?
people working at jobs beneath their training
people who have no real skills at all
people not looking for a job
people between jobs
17
Which NFL team has lost the Super Bowl game 5 times?
Packers
Dolphins
Cowboys
Bills
18
What is the length of a regulation NBA court?
102 feet
90 feet
116 feet
94 feet
19
OPEC is a cartel that sells what?
drugs
oil
diamonds
gold
20
All of the following are determinants of demand EXCEPT
preferences
income
price
number of buyers
21
All of the following are correlated with poverty EXCEPT
married or single status
race
political affiliation
history of family poverty
22
Which future teen idol's first acting gig was on Barney and Friends?
Selena Gomez
Lindsey Lohan
Miley Cyrus
Nick Canon
23
What city has the most Burger King's per capita?
Orlando
Las Vegas
San Jose, CA
Chicago
24
Social Security makes up about _____ percent of all govt spending.
14
19
23
28
25
What was the name of the penguin in Toy Story?
Chester
Sammy
Weezy
Fla fla
26
What dog breed on average lives the longest (15 years)?
Collie
Maltese
Shih Tzu
Toy poodle
27
The first IPhone came out in what year?
2010
2005
2007
2012
28
A patent is usually good for ____ years.
22
17
13
7
29
How many companies make up the Dow Jones Industrial Average?
50
20
30
10
30
What is the main export of Poland?
oil
lead
meat
machinery
31
How many Starbucks are in Los Angeles?
156
265
121
188
32
All of the following are fiscal policy tools EXCEPT
lowering the discount rate
raising taxes
govt can hire more workers
increase govt spending
33
All of the following contain Vitamin E EXCEPT
Olive oil
Wheat germ
Almonds
Pecans
34
How many full time employees does Google have?
47,100
61,814
100,300
24,505
35
Your fixed costs as a business are also called your
operating costs
variable costs
total costs
overhead costs
36
A person's credit score can go anywhere from ____ to ______.
250 to 800
300 to 800
300 to 850
350 to 800
37
Adam Smith said that people act out of
greed
compassion
hatred
self interest
38
PWM is the airport code for what U.S. airport?
Lake Tahoe
Pittsburg
Memphis
Portland
39
What percent of Americans officially live in poverty in the U.S. for 2015?
6%
17%
23%
12%
40
"Economies of scale" refers to that it is better to have ________.
one provider of a good
government regulation
multiple companies in a market
progressive taxation
41
Fiscal policy involves the manipulation of ____ to effect the economy.
bank reserves
bond availability
interest rates
taxes
42
Lincoln Park Zoo is located in what large city?
Houston
New York
Chicago
Los Angeles
43
The minimum wage is an example of a price
floor
ceiling
44
The discount rate refers to
fiscal policy
social security benefits
monetary policy
stock market loans
45
The SEC monitors what group?
stock market
congress
federal reserve
the military
46
Who is the current head of the Federal Reserve?
Ben Bernanke
Janet Yellen
Eric Holder
Kamala Harris
47
In socialism most businesses are owned by _______.
everyone
private owners
the government
a few rich people
48
What tax system has the rich pay the most in taxes?
Regressive
flat
progressive
value added
49
What is the main function of the pancreas?
regulate blood flow
produce red blood cells
aids in digestion
process protien intake
50
All of the following things are sold by cartels EXCEPT
diamonds
oil
real estate
illegal drugs
51
The U.S. only won any Olympic medal in one of the following. . . which one?
Handball
Badminton
Table tennis
Fencing
52
A bull market is when the stock market is doing what?
going up
doing nothing
going down
spinning in circles
53
Price floors usually create a/an ________ of a good or service.
excess
shortage
54
Milk duds were first produced in the U.S. in what year?
1955
1926
1971
1937
55
A copyright would protect what?
lyrics
computer hardware
a new drug
a picture of a famous person
56
What percent of the world's population has red hair?
8%
4%
6%
2%
57
A recession is when GDP is down for how many months?
9
12
6
3
58
The law of supply says that as price goes up, _____ goes ______.
demand goes down
demand goes up
supply goes up
supply goes down
59
Which state produces the most pickles every year?
Maine
California
Mississippi
North Carolina
60
What was Jennifer Lawrence's high school GPA?
1.5
3.9
3.3
2.7
61
Required reserves that banks must keep is associated with
income tax rates
fiscal policy
monetary policy
regressive tax rates
62
An example for oligopoly would be what industry?
shoes
soft drinks
resturants
gas stations
63
How many calories are in one Big Mac?
466
245
563
710
64
What sort of tax system is hardest on the poor?
regressive
proportional
progressive
value added tax
65
What did my true love get on the 7th day of Christmas?
swans swimming
lords a leaping
pipers piping
sing birds
66
Which market structure has hundreds of companies that make similar products?
monopolistic competition
duopoly
perfect competition
oligopoly
67
About how much money in interest does the govt have to pay each year?
130 billion
65 billion
1.3 trillion
500 billion
68
What country does the U.S. owe the most money to?
India
China
Germany
Japan
69
All of the following are negative externalities EXCEPT
traffic around a large mall
crime near a casino
police violence against citizens
oil spill in Alaska
70
Pi is 3.141592653____ . . . . what is the next number?
9
0
5
2
71
A negative externality is a _____ that someone must deal with.
law
regulation
tax
cost
72
All of the following debts can be discharged in bankruptcy EXCEPT
federal student loans
credit cards
very old past taxes
small personal loans
73
What is the largest discretionary part of our federal budget?
retirement benefits
Medicare
national defense
social security
74
Americans consume how many pounds of avocados each Cinco de Mayo?
237 million
122 million
55 million
81 million
75
All of the following are determinants of supply EXCEPT
govt actions
buyer income
availability of resources
supplier expectations
76
A ______ monopoly involves advanced weapons or new drugs.
geographical
natural
government
technical
77
What percent of the American population has A positive blood?
34%
25%
51%
18%
78
All of the following are examples of a price ceiling EXCEPT
tuition at a state college
rent control
a govt set price for farm goods
cap on gas prices
79
All of the following were doll friends of Barbie EXCEPT
Christie
Midge
PJ
Lacy
80
What is it called when you pay for the right to use the name of an established company?
franchise
partnership
corporation
sole proprietorship

Economics Final Exam Review Flashcards | StudBud

Economics Final Exam Review

80 termsStudBud Administration7,925 plays

Econ final

Flashcards80 cardsFPractice quizPHost liveL

Questions 80

Answers

1
A production possibility curve shows that all things in life involve
costs
a tradeoff
energy
effort
2
What is the leading cause of death in Panama?
violence
heart disease
stroke
colon cancer
3
Which state has the honeybee as its official insect?
Texas
Nebraska
Georgia
New Mexico
4
How heavy is Shaquille O'Neil?
287
388
315
344
5
Where is the tallest roller coaster in the world (456 feet high)?
Florida
Germany
New Jersey
Australia
6
The Communist Manifesto talked about struggle between
govts and citizens
whites and blacks
rich and poor
workers and owners
7
Which of the following could be called an in-kind subsidy or payment?
TANF
Social Security
WIC
food stamps or SNAP
8
The soft drink industry is a good example of a
monopoly
oligopoly
monopolistic competition
duopoly
9
Which number is closest to our national debt?
7.8 Kabillion
14 trillion
36 trillion
20 trillion
10
All of the following are Lil Flip albums EXCEPT
The Black Dr. Kevorkian
Undaground Legend
Connected
Lil Red Ridin da Hood
11
Who regulates the Federal Reserve?
various federal courts
the president
no one
congress
12
Fiscal policy is controlled by
president and congress
federal reserve
president only
state governments
13
Laissez faire is an economic term meaning what?
leave it alone
demand creates supply
competition is good
supply equals demand
14
All of the following are factors of production EXCEPT
labor
government permits
land
entrepreneurship
15
Which would be an example of a positive externality?
a new law requiring strict air pollution controls
someone playing loud music everyone likes
a thriving stock market
increased police presence
16
Which of the following best describes structural unemployment?
people working at jobs beneath their training
people who have no real skills at all
people not looking for a job
people between jobs
17
Which NFL team has lost the Super Bowl game 5 times?
Packers
Dolphins
Cowboys
Bills
18
What is the length of a regulation NBA court?
102 feet
90 feet
116 feet
94 feet
19
OPEC is a cartel that sells what?
drugs
oil
diamonds
gold
20
All of the following are determinants of demand EXCEPT
preferences
income
price
number of buyers
21
All of the following are correlated with poverty EXCEPT
married or single status
race
political affiliation
history of family poverty
22
Which future teen idol's first acting gig was on Barney and Friends?
Selena Gomez
Lindsey Lohan
Miley Cyrus
Nick Canon
23
What city has the most Burger King's per capita?
Orlando
Las Vegas
San Jose, CA
Chicago
24
Social Security makes up about _____ percent of all govt spending.
14
19
23
28
25
What was the name of the penguin in Toy Story?
Chester
Sammy
Weezy
Fla fla
26
What dog breed on average lives the longest (15 years)?
Collie
Maltese
Shih Tzu
Toy poodle
27
The first IPhone came out in what year?
2010
2005
2007
2012
28
A patent is usually good for ____ years.
22
17
13
7
29
How many companies make up the Dow Jones Industrial Average?
50
20
30
10
30
What is the main export of Poland?
oil
lead
meat
machinery
31
How many Starbucks are in Los Angeles?
156
265
121
188
32
All of the following are fiscal policy tools EXCEPT
lowering the discount rate
raising taxes
govt can hire more workers
increase govt spending
33
All of the following contain Vitamin E EXCEPT
Olive oil
Wheat germ
Almonds
Pecans
34
How many full time employees does Google have?
47,100
61,814
100,300
24,505
35
Your fixed costs as a business are also called your
operating costs
variable costs
total costs
overhead costs
36
A person's credit score can go anywhere from ____ to ______.
250 to 800
300 to 800
300 to 850
350 to 800
37
Adam Smith said that people act out of
greed
compassion
hatred
self interest
38
PWM is the airport code for what U.S. airport?
Lake Tahoe
Pittsburg
Memphis
Portland
39
What percent of Americans officially live in poverty in the U.S. for 2015?
6%
17%
23%
12%
40
"Economies of scale" refers to that it is better to have ________.
one provider of a good
government regulation
multiple companies in a market
progressive taxation
41
Fiscal policy involves the manipulation of ____ to effect the economy.
bank reserves
bond availability
interest rates
taxes
42
Lincoln Park Zoo is located in what large city?
Houston
New York
Chicago
Los Angeles
43
The minimum wage is an example of a price
floor
ceiling
44
The discount rate refers to
fiscal policy
social security benefits
monetary policy
stock market loans
45
The SEC monitors what group?
stock market
congress
federal reserve
the military
46
Who is the current head of the Federal Reserve?
Ben Bernanke
Janet Yellen
Eric Holder
Kamala Harris
47
In socialism most businesses are owned by _______.
everyone
private owners
the government
a few rich people
48
What tax system has the rich pay the most in taxes?
Regressive
flat
progressive
value added
49
What is the main function of the pancreas?
regulate blood flow
produce red blood cells
aids in digestion
process protien intake
50
All of the following things are sold by cartels EXCEPT
diamonds
oil
real estate
illegal drugs
51
The U.S. only won any Olympic medal in one of the following. . . which one?
Handball
Badminton
Table tennis
Fencing
52
A bull market is when the stock market is doing what?
going up
doing nothing
going down
spinning in circles
53
Price floors usually create a/an ________ of a good or service.
excess
shortage
54
Milk duds were first produced in the U.S. in what year?
1955
1926
1971
1937
55
A copyright would protect what?
lyrics
computer hardware
a new drug
a picture of a famous person
56
What percent of the world's population has red hair?
8%
4%
6%
2%
57
A recession is when GDP is down for how many months?
9
12
6
3
58
The law of supply says that as price goes up, _____ goes ______.
demand goes down
demand goes up
supply goes up
supply goes down
59
Which state produces the most pickles every year?
Maine
California
Mississippi
North Carolina
60
What was Jennifer Lawrence's high school GPA?
1.5
3.9
3.3
2.7
61
Required reserves that banks must keep is associated with
income tax rates
fiscal policy
monetary policy
regressive tax rates
62
An example for oligopoly would be what industry?
shoes
soft drinks
resturants
gas stations
63
How many calories are in one Big Mac?
466
245
563
710
64
What sort of tax system is hardest on the poor?
regressive
proportional
progressive
value added tax
65
What did my true love get on the 7th day of Christmas?
swans swimming
lords a leaping
pipers piping
sing birds
66
Which market structure has hundreds of companies that make similar products?
monopolistic competition
duopoly
perfect competition
oligopoly
67
About how much money in interest does the govt have to pay each year?
130 billion
65 billion
1.3 trillion
500 billion
68
What country does the U.S. owe the most money to?
India
China
Germany
Japan
69
All of the following are negative externalities EXCEPT
traffic around a large mall
crime near a casino
police violence against citizens
oil spill in Alaska
70
Pi is 3.141592653____ . . . . what is the next number?
9
0
5
2
71
A negative externality is a _____ that someone must deal with.
law
regulation
tax
cost
72
All of the following debts can be discharged in bankruptcy EXCEPT
federal student loans
credit cards
very old past taxes
small personal loans
73
What is the largest discretionary part of our federal budget?
retirement benefits
Medicare
national defense
social security
74
Americans consume how many pounds of avocados each Cinco de Mayo?
237 million
122 million
55 million
81 million
75
All of the following are determinants of supply EXCEPT
govt actions
buyer income
availability of resources
supplier expectations
76
A ______ monopoly involves advanced weapons or new drugs.
geographical
natural
government
technical
77
What percent of the American population has A positive blood?
34%
25%
51%
18%
78
All of the following are examples of a price ceiling EXCEPT
tuition at a state college
rent control
a govt set price for farm goods
cap on gas prices
79
All of the following were doll friends of Barbie EXCEPT
Christie
Midge
PJ
Lacy
80
What is it called when you pay for the right to use the name of an established company?
franchise
partnership
corporation
sole proprietorship