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Final Exam Chapters 1-8, 13 + Stock Market Game Flashcards | StudBud
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Final Exam Chapters 1-8, 13 + Stock Market Game
Final Exam Chapters 1-8, 13 + Stock Market Game
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Flashcards
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Questions
72
Answers
1
Price goes up and supply goes down....
False
True
2
The point at which supply and demand meet is called market equilibrium
True
False
3
Mr. O'Connor can lift 300 pounds. Alan G. can lift only 120 pounds. Mr. O'Connor has a
comparative advantage.
False
True
4
A company gets money when someone sells their shares at a higher price.
True
False
5
It is a great idea to invest in the stock market to reduce your credit card debt.
False
True
6
Common stock offers voting rights.
True
False
7
More buyers than sellers causes the stock price to fall.
True
False
8
A 23 year old should invest in large cap companies, bonds and savings account only.
True
False
9
Small cap companies are very safe because they are well established.
False
True
10
The Bakery's opportunity cost for pastry is lower than the Pizza Parlor .
False
True
11
A price ceiling caused the shortage.
True
False
12
A savings account is a great place to leave your life saving for 20+ years because it will keep up with inflation.
False
True
13
Supply depends on the willingness and ability of producers to produce.
True
False
14
________ is an example of a market structure.
All
Monopolistic competition.
Oligopoly
Perfect competition
15
Money supply includes
currency and coin
All
deposits into checking account
travelers' checks
16
A GDP decline of 6 month is called a recession, a decline of more than that is called a depression.
True
False
17
The new price
Remained the same.
Went up
Mr. O'Connor is handsome.
Went down
18
____________ of a decision is the value in time, money
(resources)
of the
next best alternative
....
opportunity cost
Tradeoff
Capital
Labor
19
Traditional economies will change over time.
False
True
20
Most economies are most efficient when they have full employment
True
False
21
A 25 year old should invest 80% in bonds and 20% in stocks while a 65 year old should invest 90% of their money in stock
True
False
22
In a market with
perfect competition
, prices are determined by the government.
True
False
23
The picture illustrates ________.
specialization
absolute advantage
thinking at margin
A weird white guy.
24
Companies do not have to report the type of product or service they offer to be listed on the New York Stock Exchange.
True
False
25
The Price Ceiling lead to a shortage of 40.
False
True
26
What might cause Pizza restaurants to supply more at the same
price.
New pizza ovens are more efficient. (technology)
Government plans to tax pizza for health reasons. (Policy)
All (Red, blue, Orange)
Wheat prices are at all time low. (input)
27
Based on question 22 what should each country specialize in?
None of the above.
Country A should do both
Country A Cars Country B Trucks
None neither had a comparative advantage.
28
A decline in GDP over a period of at least six months is called a depression.
False
True
29
Banks function to bring together _______ and _______.
government and capitalism
Mortgages, loans
savers and borrowers
investors and borrowers
30
A tombstone ad could be found in a bankruptcy report.
False
True
31
ETF prices can change throughout the day as they are exchanged on the market.
True
False
32
Same question in Galileo student English, Price goes up, demand goes down....
True
False
33
The SFPD regulates stocks traded on the internet in San Francisco.
False
True
34
A shift in demand below was caused by
Increasing prices.
Lowering of prices
Prices will rise NEXT week.
None of the above
35
Quantity demand moves along the demand curve in response to changes in
p
rice
False
True
36
NASDAQ & Dow Jones are two places you can buy stocks.
True
False
37
Trade-offs are necessary because resources are limited.
False
True
38
The law of demand states that as a quantity demanded decreases prices increases
False
True
39
Gross Domestic Product is the total number of goods & services sold.
True
False
40
The Pizza Parlor has a comparative advantage in making crusts.
False
True
41
What might explain point X?
Improved technology.
An earthquake.
Hire more workers
Government allows more immigration.
42
The government has put a price ceiling on chocolate bars.
True
False
43
Country A has a comparative advantage in making cars, and Country B has a comparative advantage in making in trucks.
False
True
44
The picture is a great example of
consumer demand meets supply
Inflation ;)
GDP (Gross DeMan Pukes.....)
Diminishing Marginal Utility
45
Volatile stocks have little risk and are usally companies that have been around a long time.
False
True
46
___________ is the study of how people use their limited resources
d. Economics
b. Scarcity
Political science
c. Incentives
47
Supply shift to the left
Causing an increase in price.
Both blue & orange.
Is due to a new robot who can pick coffee beans faster.
Due to a storm destroying most of the coffee plants.
48
People's wants are always greater than their needs. Best example of this is
Trade make people better off.
Incentives matter
Thinking at margin
Scarcity forces tradeoffs
49
Compound interest- earn interest not only on the amount you have saved, but also on the interest you've already earned
True
False
50
What is the opportunity cost of moving from B to D?
Mr. O'Connor you like never like explained this to me...jk
None- you have both guns and butter
Loss of some guns
Loss of some butter
51
North Korea's government answers the three basic economic questions.
True
False
52
You can
SUBSTITUTE
burgers for chicken at a barbecue...
False
True
53
The rule of 72 says it will take 72 years for your money to double.
True
False
54
Initial Public Offerings have little risk.
True
False
55
Stocks carry less risk than mutual funds or bonds.
True
False
56
What might explain point A?
new technologies.
An earthquake.
Workers have gone on strike
Both blue and orange.
57
Retirement, college tuition, buying a home, start a business are all "realistic goals" for investers.
False
True
58
Country A has an absolute advantage in producing cars & trucks.
False
True
59
Which of the 7 economic principles
best
explains the scenario below?
Thinking at Margin.
Cost Versus Benefits
Scarcity Forces Tradeoffs
Incentives Matter.
60
The price floor lead to a surplus of 400 chocolate bars.
False
True
61
Who are the primary (mostly) customers of the Federal Reserve?
Commercial banks
b. Government
c. Individuals
Businesses
62
USA should specialize in computers and Mexico in cars.
True
False
63
The market structure where supplier has the most control over the price is a monopoly.
True
False
64
When you use a credit card you are borrowing from a bank.
False
True
65
The USA has a ...
All (red, blue, orange are right)
USA has a comparative advantage in production of computers.
Mexico has a comparative advantage making cars.
Absolute advantage in production of computers.
66
___________ forces tradeoffs because of limited resources.
b. Margin
a. Scarcity
d. Incentives
c. Markets
67
Diversifying your portfolio helps reduce risk.
False
True
68
The three basic economic questions are: WHEN to produce, WHAT to produce, WHERE to produce
False
True
69
Savings account is a great place to put your money for emergencies.
True
False
70
Land, labor, capital are
unlimited.
Both red & blue
Factors of production
Scarce resources
71
Preferred stock usually come with a dividend.
False
True
72
By dividing up labor
(specialize)
, workers can be experts and be more
productive (make more).
False
True
