stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economics Flashcards | StudBud
Explore
/
Economics
Economics
50 terms
·
StudBud Administration
·
1,208 plays
Imported from external platform
Flashcards
50 cards
F
Practice quiz
P
Host live
L
Questions
50
Answers
1
Items of value that cannot be seen or touched.
Scarcity
Investment
Services
Goods
2
Which of the following is not a kind of advertising according to Donald Gunn?
Comparison
Demo
Product Trial
Associated User Imagery
3
The demand for labor is this kind of demand.
Derived Demand
Special Demand
Different Demand
Demand
4
Globalization operates on the assumption that ___ has made the worlds' economies more connected
advancements in communications and transportation technology
Less foreign direct investment
More trade barriers
An increase in scarce resources
5
What would happen to the demand for corn if its price goes up because of a severe drought?
The demand would fall
The demand would rise
Nothing happens to demand
6
Which of the following would be the highest risk investment?
US Savings Bonds
Municipal Bonds
Individual Stocks
Certificates of Deposit
7
Money used for business expenses or to use your money to make money.
Scarcity
Services
Investment
Goods
8
Which of the following is true about an investor who purchases a corporate bond?
they are guaranteed a portion of profits
they are liable for the corporation's debt
they have loaned money to a corporation
they are now part owner of the corporation
9
The labor force is made up of which of the following?
everybody aged 16 to 65 not in an institution
Everybody over the age of 10
Everybody aged 16 to 65
everyone in the country who has a job
10
This is money loaned to the US federal government as an investment.
US Savings Bonds
Shares of Stock
Municipal Bonds
CD's
11
A mutual fund is...
a pool of extra tax revenue
a bank account owned by more than one person
a group of stocks managed by a financial adviser
an employee retirement plan
12
This is the multinational organization which oversees international trade.
UN
NAFTA
EU
WTO
13
What are the three factors of production?
Land, Labor, and Capitol
Economic wants, scarcity, and entrepreneurship
Profit, Prices, and Markets
Goods, services, and capital
14
Which of the following refers to the study of the economy as a whole?
Macroeconomics
Price Effect
Microeconomics
Economics
15
Which of the following is a benefit of using credit?
Paying Interest
Building Debt
Safer to Carry
Impulse Buying
16
Items of value that can be seen or touched.
Services
Investment
Goods
Scarcity
17
What would happen if the government created a price floor that was above market clearing price?
Nothing
Free ice cream for everyone!!!!!!!!!!!!!!!
A shortage
A surplus
18
According to the law of demand:
buyers demand more quantity at lower prices
People like stuff
price has no effect on quantity demanded
buyers demand less quantity at lower prices
19
The principal is the amount that is borrowed or originally invested.
True
False
20
If China can produce 100 planes an hour and the US can produce 80 China has a what?
Lower Productivity
Unfair Advantage
Comparative Advantage
Absolute Advantage
21
Credit is the ability to borrow money or obtain goods by paying little or no money.
True
False
22
A dividend is...
one of the tools of fiscal policy
a saving opportunity.
a share of profits regularly paid to its shareholders.
one of the tools of monetary policy.
23
In a voluntary exchange between two people or businesses
Both lose
No one gains or loses
One win and one loses
Both parties expect to gain
24
According to marginal analysis a person will continue an activity until what point is reached?
marginal benefit equals marginal cost
total cost is as low as possible
The government makes them stop.
Total benefit is highest
25
This provides an investor with a percentage of ownership in a corporation.
CD's
US Savings Bonds
Municipal Bonds
Shares of Stock
26
Which of the following investments/savings plans is most liquid?
CD's
stocks
savings bonds
Checking accounts
27
In the formula, GDP=C+__+G+NX which of the following best fills the blank?
I for inflation
I for income
P for profit
I for investment
28
To an economist "real" means what?
not fake
additional
adjusted for inflation
used in production of goods
29
Which of the following words describes the relationship between stockholders and corporations?
Sellers
Debtors
Owners
Creditors
30
A disease suddenly reduces the supply of chickens, what will happen in the market for chickens?
Free chicken nuggets for all!!!!!!!!
A higher price for chicken
A lower price of chickens
Shortages of chicken
31
Which Federal Reserve Bank services Iowa?
Chicago
Kansas City
Atlanta
Minneapolis
32
If the citizens of a country want to measure standard of living they would use which measure?
Inflation Rate
real per capita GDP
GDP
Real GDP
33
The FDIC protects your money in banks up to
$50,000
$250,000
$25,000
$1,000,000
34
If the price of fish rises in the supermarkets which of the following would most likely happen?
the demand for fish will shift right
the demand for beef will shift left
Nothing
the demand for chicken will shift right
35
Which of the following best describes the cost of borrowing other people's money?
Surplus
Interest
Demand
Inflation
36
This is money loaned to local/state governments by investors.
Municipal Bonds
Shares of Stock
US Savings Bonds
CD's
37
The marginal cost of production is:
a cost index based on the price of margarine
a small cost that businesses ignore
a cost borne by buyers not sellers
the cost of producing an additional unit of a good
38
The current Federal Reserve Chairperson is?
Timothy Geithner
Jerome Powell
Jack Lew
Donald Trump
39
Supply refers to the behavior of:
Consumers
The Government
Producers
Mr. George
40
David Ricardo was an economist who argued in favor of what concept?
Free Trade
Trade Barriers
Socialism
Communism
41
This is a person who starts a business and organizes resources in order to produce a product.
Stockholder
Entrepreneur
Manager
Partner
42
What does this graph show?
Decrease in supply
Increase in demand
Decrease in demand
Increase in supply
43
What does this graph show?
Decrease in demand
Decrease in supply
Increase in supply
Increase in demand
44
Which of the following is NOT a barrier to trade?
Specialization
Tariffs
Quotas
Export Subsidies
45
Economics is the study of...
Studying how people use scarce resources to satisfy wants
How governments allocate resources
The production of resources
Kinds of Businesses
46
Credit card use can lead to impulse buying.
True
False
47
If Mr. George owned a t-shirt factory what would happen to supply if the price of cotton fell?
Decrease
Increase
Nothing
48
In the formula, GDP= __ +I+G+NX what fills the blank?
P for profit
C for capital
C for consumption
C for complementary goods
49
The fact that all resources are limited.
Scarcity
Goods
Services
Investment
50
This is savings which remains in the bank for a specific period of time.
Shares of Stock
US Savings Bonds
CD's
Municipal Bonds
