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Econ Final
Econ Final
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Questions
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Answers
1
When did the federal government first drastically increase its involvement in commercial banking
After WWII
after 'Nam
After Revolutionary War
After Civil War
2
If you buy 70,000 stocks of a company that only has 280,000 stocks what do you own
Full ownership
rich boy status
25% ownership
50% ownership
3
medicine is a capital good
False
True
4
By what are modern banks authorized to exist
Charter
Easy access to your money
The future is now old man
Someone's gotta make money by robbing them right?
5
Which was found by Charles Dowe and Edward Jones
Wall Street Journal
Vanity Post
Huffington Post
New York Times
6
When filing bankruptcy, who earns the last proceeds
the owner
the employees
Wall Street
stockholders
7
Economics is a measure of social power
True
False
8
What is the central function performed by the Market interest rate
Put more money in the banks to make it be worth more
regulate money from households to business
Regulate money that the business gives to the household
split stocks to make shares more affordable
9
What is the science of how and why people do business and the choices they make
Social Science
Political science
Consumer science
Economics
10
A car is a consumer good
True
False
11
What is the major advantage of incorporating a company
equal personal liablilty
More personal liability
all personal liability
less personal liability
12
Which type of business gives the owner the most type of freedom
Sole Proprietorship
Joint Business
Dual Proprietorship
Separate Company
13
a tractor is an example of capital
False
True
14
What is a double coincidence of wants
When one has what another wants
When one wants what another has
15
A house is an example of capital
False
True
16
What circulates money as the heart of the economy
Stocks
Increase of Demand
Financial Market
Complementary Goods
17
What are the two basic elements of the circular flow model
rising stocks
business forms
rightward shifts
households
18
In the eyes of the law which corporation owns two different qualities
Individuality
tax evasion
rich company status
Immortality
19
What is the economic cost of a good and a service
value
economic agreement
cost
Price of an object
20
The federal government system is independent thanks to what
cause it wants to be
technology
It would cost too much in taxes
SOciety ddeemed it necessary
21
When your car finally breaks down, what is that an example of
Bad goods
Wasted Goods
Nuisance good
Reliable goods
22
a welding machine is a consumer good
False
True
23
Coversation of a natural resource primarily shows a grasp of what economic concept
Bankruptcy
Bank Run
Stock Market Crash
Scarcity
24
The stock market crash of 1929 was result of what
Great Depression
Evacuation
bank Run
Speculation
25
Which is a question that the general partnership contract does not need to answer
When is the est. date
How much money does everyone need to pay their taxes with
When does the first public offering come out
What is the limit of each partner's liability
26
Who selects the members of the board of governors, and CONGRESS confirms
VP
Congress picks
Treasury Picks
President PIcks
27
The broken window fallacy shows examples and warns of what?
Hidden costs
potential bankruptcy
costs and demands
possible nuisance goods
28
Where is the first place a stock market took place in
Dallas
Philadelphia
Boston
New York City
29
What biblical concept refers to a person's responsibility to make proper choices
Tithing
Stewardship
The lack of temptation
Salvation
30
Bacon and eggs best qualify as an example of
hidden costs
Complementary goods
increase of demand
nuisance goods
31
The stock exchange with “no floor”
Boston, just Boston that's the whole answer
Bad Construction design
QQQ
NASDAQ
32
Why is federal reserve independent from Congress
Government interference
Idk, probably Trump's fault
Communism
no government interference
33
economics is a measure of value
True
False
34
Legal tender refers to what
Starting an order in the government involving money
Optional Money from the government
Money you need to take
Taking money from citizens and calling it "taxes" (idk)
35
Choosing an abundant item and using it as a commodity money leads to what
Speculation
Scarcity
Inflation
Bank RUn
36
The rightward shift of demand curve indicates what
increase in stocks
increase in demand
bankruptcy
indicates mandatory bank runs
37
What is the market solution to the output question
capital tradeoff
bank run
Divide stocks
consumer tradeoff
38
DABABY?
Dababy
Dababy
Dababy
Dababy
39
a printing press is a consumer good
False
True
40
What is the primary economic good as a society
to all have an equal money amount
to accomplish economic goal
41
What is the term for a corporations first share of stock
Initial Publuc Offering
Big Short
First Come First Serve stock
Limited Liability Corporation
42
economics is a means of payment
True
False
43
What institution makes money decisions based on money supply
Federal Committee of Money
Federal District Markets
Treasury
Federal Open Market Committee
44
The federal reserve district divides the nation in how many parts
12
341
15
2114
45
Ludwig von Mises is well known for exploring the economic concept of
Free Market
stock market
Circular Flow Model
