Which best defines economic recovery?

characterized by a sustained period of improving business activity

includes coins and paper money that serve as a medium of exchange.

Which statement is true of both debit AND credit cards?

Both allow you to make purchases in a store or online

the ability of money to hold value over time.

any asset that can be used to make a purchase.

Which best defines Communism?

economy where all property, land, factories and companies is held by govern

sellers generally accept/buyers generally use to pay for a good/service.

Which best defines Socialism?

economic system wherein most property/resources owned in common/by state

Which best defines Feudalism?

defined by inherited social ranks, each of which possessed inherent social

If you buy a $1000 bicycle with a credit card which of the following payoff strategy will result in paying the least?

Paying $250 per month until it’s paid off

How does increasing the size of your down payment impact your auto loan?

decreases size of your principal and decreases the total cost of the loan.

The standard of value

property of money informs consumers how much good/service is actually worth

What are three main types of economic systems?

Capitalism, socialism, communism

Which best defines Capitalism?

an economic system in which a country's trade/industry - private owners

occurring in small numbers or quantities

Which statement best describes a Schumer box?

standardized way of presenting the key terms of your credit card agreement

Which best defines economic recession?

temporary economic decline during which trade/industrial activity reduce

Which best defines economic depression?

a steep/ sustained drop in economic activity featuring high unemployment

In the early repayment phase of an amortized loan, your monthly payment is _____.

mostly interest and a little principal

A high PE ratio indicates

The stock is expensive to invest in at this point in time

includes currency, checkable deposits, traveler's checks, and other checkli

the exchange of one good or service for another good or service; a trade.

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Economics Final Review

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Questions 39

Answers

1
Which of the following indicates the percent interest the individual stock is paying?
Volume
Dividend
PE Ratio
Yield
2
Which best defines economic recovery?
a steep/ sustained drop in economic activity featuring high unemployment
Big Sad =/
characterized by a sustained period of improving business activity
temporary economic decline during which trade/industrial activity reduce
3
Currency
includes coins and paper money that serve as a medium of exchange.
any asset that can be used to make a purchase.
property of money informs consumers how much good/service is actually worth
sellers generally accept/buyers generally use to pay for a good/service.
4
Which statement is true of both debit AND credit cards?
Both require you to pay a minimum monthly payment when your bill arrives
Both typically have interest rates between 10–30%
Both can trap you in an endless cycle of debt if you’re not careful
Both allow you to make purchases in a store or online
5
The store of value
occurring in small numbers or quantities
property: good that can be broken into smaller amounts withoutlosing value
the ability of money to hold value over time.
M1 + savings deposits, small denomination time deposits, and money market
6
Money
property of money informs consumers how much good/service is actually worth
any asset that can be used to make a purchase.
includes coins and paper money that serve as a medium of exchange.
sellers generally accept/buyers generally use to pay for a good/service.
7
Which best defines Communism?
economy where all property, land, factories and companies is held by govern
economic system wherein most property/resources owned in common/by state
defined by inherited social ranks, each of which possessed inherent social
an economic system in which a country's trade/industry - private owners
8
Medium of exchange
includes coins and paper money that serve as a medium of exchange.
property of money informs consumers how much good/service is actually worth
sellers generally accept/buyers generally use to pay for a good/service.
any asset that can be used to make a purchase.
9
Which best defines Socialism?
economy where all property, land, factories and companies is held by govern
defined by inherited social ranks, each of which possessed inherent social
an economic system in which a country's trade/industry - private owners
economic system wherein most property/resources owned in common/by state
10
Which best defines Feudalism?
an economic system in which a country's trade/industry - private owners
economic system wherein most property/resources owned in common/by state
defined by inherited social ranks, each of which possessed inherent social
economy where all property, land, factories and companies is held by govern
11
The United States economic system is best described as
Purely Socialist
Social-Capitalist
Democratic-Republic
Purely Capitalist
12
If you buy a $1000 bicycle with a credit card which of the following payoff strategy will result in paying the least?
Paying the minimum monthly payment
Paying $100 per month for 10 months
Paying the required amount on your monthly statement until it’s paid off
Paying $250 per month until it’s paid off
13
If your credit card limit is 800 and your blancie is 725, houw much can you charge that card in the upcoming month
0
725
75
800
14
When applying for credit, is it preferable to receive a low interest rate or a high interest rate?
High interest rate
Low interest rate
15
The portion of a profit that is paid to a stock owner is the
Dividend
Yield
Volume
PE ratio
16
Which of the following is the term for the financial value of assets?
Equities
Securities
Capital
17
What is the largest stock exchange in the U.S.?
Chicago Board of Trade
AMEX Exchange
New York Stock Exchange
NASDAQ Exchange
18
How does increasing the size of your down payment impact your auto loan?
increases size of your principal and decreases the total cost of the loan.
decreases size of your principal and increases the total cost of the loan.
decreases size of your principal and decreases the total cost of the loan.
increases size of your principal and increases the total cost of the loan.
19
The standard of value
includes coins and paper money that serve as a medium of exchange.
any asset that can be used to make a purchase.
sellers generally accept/buyers generally use to pay for a good/service.
property of money informs consumers how much good/service is actually worth
20
The United States economic system is best described as
Purely Socialist
Purely Capitalist
Social-Capitalist
Democratic-Republic
21
What are three main types of economic systems?
Oligarchy, theocracy, and democracy
Democracy, feudalism, and monarchy
Capitalism, socialism, communism
22
Each of the following is an example of an amortized loan EXCEPT:
Home mortgage
Apartment rent
Student loan
Auto loan
23
Which of the following is the term for someone who buys stocks and shares?
Speculator
Shareholder
Analyst
24
Which best defines Capitalism?
economic system wherein most property/resources owned in common/by state
defined by inherited social ranks, each of which possessed inherent social
an economic system in which a country's trade/industry - private owners
economy where all property, land, factories and companies is held by govern
25
What term describes the amount you must pay in order to be considered “up-to-date” with your credit card payments?
APR
Closing balance
Minimum payment
Interest rate
26
Scarce
M1 + savings deposits, small denomination time deposits, and money market
the ability of money to hold value over time.
occurring in small numbers or quantities
property: good that can be broken into smaller amounts withoutlosing value
27
Which statement best describes a Schumer box?
A legal document stating that you’re behind on your credit card payments
final calculation of how much you owe on your credit card bill each month
outstanding balance on your card once you’ve made your recent payment
standardized way of presenting the key terms of your credit card agreement
28
Which best defines economic recession?
characterized by a sustained period of improving business activity
Big Sad =/
a steep/ sustained drop in economic activity featuring high unemployment
temporary economic decline during which trade/industrial activity reduce
29
Which of the following is the term for a market in which prices are falling?
Bull market
Bad market
Bear market
30
Which best defines economic depression?
temporary economic decline during which trade/industrial activity reduce
characterized by a sustained period of improving business activity
a steep/ sustained drop in economic activity featuring high unemployment
Big Sad =/
31
Which of the following should be considered when investing in the stock market?
PE ratio
Dividend
52 week hi/low
All of the above
32
In the early repayment phase of an amortized loan, your monthly payment is _____.
mostly principal and a little interest
mostly interest and a little principal
all interest and no principal
evenly split between interest and principal
33
A high PE ratio indicates
The stock is expensive to invest in at this point in time
The amount of interest paid on a stock
The stock is cheap to invest in at this point in time
The amount of profit a company is making
34
money supply
money supply
includes currency, checkable deposits, traveler's checks, and other checkli
the exchange of one good or service for another good or service; a trade.
objects such as money is easy to transfer from one person to another
35
Which of the following can best be described as a communist state today?
Afghanistan
China
Russia
USA
36
What caused the 08 financial crisis?
All of the above
Increased borrowing by banks and investors
Sub Prime Mortgage Loans
The Community Reinvestment Act
37
Barter
money supply
the exchange of one good or service for another good or service; a trade.
objects such as money is easy to transfer from one person to another
includes currency, checkable deposits, traveler's checks, and other checkli
38
What are the benefits of capitalism?
All of the above
Government oversight
Economic growth
Social programs & funding
39
Which of the following is the term for all securities held by an investor?
Capital
Assets
Portfolio
Prospectus

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