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Economics Test 1 Review (C) Flashcards | StudBud
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Economics Test 1 Review (C)
Economics Test 1 Review (C)
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Econ Test 1
Flashcards
40 cards
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Practice quiz
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Host live
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Questions
40
Answers
1
Austin and Ally attend a high school named after what famous quarterback?
Joe Montana
John Elway
Dan Marino
Bret Favre
2
Sweden has the longest life expectancy if Europe. . how long?
80.5 years
85.5 years
83 years
76 years
3
What was the first state to legalize weed?
Oregon
California
Alaska
Washington
4
In Modern Warfare 3 it is revealed that Makarov did what?
used to be a terrorist
spied on his unit
ran a meth lab
blew up a nuke
5
How long is the Colorado River?
1450 miles
920 miles
1975 miles
1610 miles
6
How many PGA tour events has Tiger Woods won?
51
42
78
66
7
How many children does Trump have?
5
3
4
6
8
All of the following are examples of instabilities EXCEPT
natural disaster
war in a certain area of the world
oil spill
drought
9
Amy Adams has been nominated for how many Academy Awards?
none
7
5
3
10
All of the following are determinants of demand EXCEPT
tastes or preferences
# of buyers
availability of substitute items
government actions
11
All of the following are determinants of demand EXCEPT
technology
availability of substitutes
income
tastes or preferences
12
Your cost of making one additional unit of a good or product is called your
operating cost
marginal cost
variable cost
fixed cost
13
All of the following would be an example of an operating cost EXCEPT
hourly wages
raw materials
electricity
hiring more workers
14
Demand means one has the desire and _________ to purchase a good or service.
need
motivation
ability
want
15
All of the following are determinants of supply EXCEPT
income
technology
# of other producers/providers
Producer expectations
16
Beyoncé has a cat named _______________.
McClaw
Doctor Fur
Master P
Rupert
17
All of the following are examples of negative externality EXCEPT
dirty air due to traffic
crime near a casino
earthquake
dead fish due to chemicals in a lake near a factory
18
Your "overhead" is also known as
variable costs
capital
factors of production
fixed costs
19
A production possibility curve demonstrates what economics idea?
shortage
everything is a tradeoff
underutilization
scarcity
20
All of the following are factors of production EXCEPT
Land
Variable costs
Capital
Entrepreneurs
21
All of the following are determinants of supply EXCEPT
availability of substitutes
number of competitors
availability of resources
technology
22
The law of diminishing returns says that at some point the cost of making one more unit
will go up
will stop increasing
will stay the same
will go down
23
An externality is a ____________ that someone must bear because of an economic activity.
good
result
cost
product
24
A subsidy is most like what?
Govt food stamps
a fee to use a public road
a payment to employees from business owners
an extra cost for alcohol
25
What nation produces the most watermelons?
Brazil
United States
China
Turkey
26
Ice Cube loves all of the following movies EXCEPT
The Godfather
Star War IV - A New Hope
Rocky
Jaws
27
All of the following are Ryan Gossling movies EXCEPT
The Notebook
Remember the Titans
The Place Beyond the Pines
Whiplash
28
A demand curve ALWAYS goes down because the lower the price the higher the demand.
False
True
29
If demand for an item with a compliment item goes down, demand for the compliment item will
it can go up or down
stay about the same
go up
go down
30
What pop star did Selena Gomez play on Hannah Montana?
Necee
Jem
Mikayla
Starr
31
Opportunity cost is what you giving up to do what?
so that you can control variable and fixed costs
get the other thing you want at any given time
controls shifts in demand
make a living wage
32
Which Vegas hotel is home to the Shark Reef exhibit (with lots of sharks)?
Mandalay Bay
The Mirage
MGM Grand
The Palms
33
What is the atomic number for nitrogen?
17
5
12
7
34
Mexican women were first allowed to vote in presidential elections in what year?
1942
1958
1925
1890
35
What planet has 63 moons?
Mars
Saturn
Jupiter
Venus
36
Scarcity means there is a limited number of
capital
resources
buyers
everything
37
How much is a full price adult one day ticket to the Seaworld San Diego?
$68
$76
$85
$93
38
All of the following are popular participation sports in Norway EXCEPT
badminton
speed skating
canoeing
handball
39
All of the following were offered the role of Jack Dawson in Titanic EXCEPT
Mathew Maconaughey
Justin Timberlake
River Phoenix
Johnny Depp
40
The law of supply says that as price goes up,
demand goes up
demand goes down
supply goes up
supply goes down
