Which of the following is an example of a law passed as a Social Protection?

REQUIRING MORTGAGE BROKERS TO BE LICENSED

If a government wants to provide a short-term stimulus to its economy, what will it most likely try to do?

BUY OTHER CURRENCIES TO WEAKEN ITS OWN CURRENCY

Which of the following would NOT cause Demand to increase?

A LEFT SHIFT IN SUPPLY, CAUSING PRICES TO FALL

How can you delete columns from your spreadsheet?

BY SELECTING THE COLUMNS AND RIGHT-CLICKING TO "DELETE"

If the Demand line shifts right, it will cause…

THE EQUILIBRIUM PRICE TO INCREASE

What is an event with "Well-Defined" Risk?

AN EVENT THAT THE RISK LEVEL IS KNOWN WITH SOME CERTAINTY

Which group would be the most likely to propose a new trade restriction?

BUSINESS OWNERS WHO COULD POTENTIALLY PROFIT

If given the choice, which is the easiest way to get data into a spreadsheet?

EXPORTING FROM A WEBSITE DIRECTLY TO A SPREADSHEET

When calculating percent changes, how many rows of percentages will you end with?

1 FEWER ROW THAN NUMBER OF DAYS

Which of the following sources of a comparative advantage for countries is closest to "Skill" for individuals?

NUMBER OF UNIVERSITY GRADUATES IN ONE FIELD

In the example with Alice the milkmaid and Bob the baker, which of the following would NOT be a Pareto Improvement?

BOB GIVING ALICE 1 COOKIE AND GETTING 2 GALLONS OF MILK IN RETURN

If you need to sort data in your spreadsheet from Microsoft Excel, where would go?

THE "SORT" FUNCTION UNDER "DATA"

Which type of economy would be the most likely to benefit from weak intellectual property rights?

A FAST-GROWING DEVELOPING ECONOMY

How can you calculate the profit and loss per trade if you buy and sell different amounts at different times?

BY USING AN "AVERAGE COST" CALCULATION FOR BOTH YOUR BUYS AND SELLS, THEN

Which of the following would cause deflation?

MORE PEOPLE PAY BACK THEIR LOANS THAN TAKE OUT NEW LOANS

Why does the Quantity Demanded decrease with price?

FEWER PEOPLE ARE WILLING TO BUY SOMETHING AT HIGHER PRICES

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economic lessons 2, Mathematics and Spreadsheets Lessons

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Questions 36

Answers

1
What kind of graph is best for seeing your portfolio value over time?
PIE CHART
BAR GRAPH
SCATTER CHART
LINE GRAPH
2
When countries engage in international trade, which one usually comes out on top?
THE MORE SPECIALIZED COUNTRY ALWAYS GETS A BETTER DEAL
THE BIGGER COUNTRY ALWAYS GETS A BETTER DEAL
BOTH COUNTRIES USUALLY BENEFIT EQUALLY
NONE OF THE ABOVE
3
Which of the following is an example of a law passed as a Social Protection?
INCREASING MILITARY SPENDING BY ORDERING NEW TANKS FROM A FACTORY IN INDIAN
PASSING ENVIRONMENTAL PROTECTIONS LIMITING THE AMOUNT OF SULFUR COAL POWER
THE CREATION OF A HEALTHCARE EXCHANGE TO CONNECT INDIVIDUALS WITH HEALTH
REQUIRING MORTGAGE BROKERS TO BE LICENSED
4
If a government wants to provide a short-term stimulus to its economy, what will it most likely try to do?
NEGOTIATE A FREE-TRADE DEAL WITH ITS NEIGHBORS
ADD A NEW TARIFF TO SUPPORT A SMALL INDUSTRY THAT IT HOPES TO SPECIALIZE OV
BUY BACK ITS OWN CURRENCY TO STRENGTHEN IT
BUY OTHER CURRENCIES TO WEAKEN ITS OWN CURRENCY
5
Which type of property right was established by the constitution?
CAPITAL PROPERTY RIGHTS
LAND PROPERTY RIGHTS
INTELLECTUAL PROPERTY RIGHTS
ALL OF THE ABOVE
6
A bank will determine the interest rate for loans based on…
SIZE OF THE LOAN
EXPECTED PROFIT FOR EACH LOAN
ALL OF THE ABOVE
RISK OF DEFAULT
7
Which of the following tools is used most often by the Federal Reserve
CHANGING RESERVE REQUIREMENTS
BOND BUYING
MANIPULATING INTEREST RATES
QUANTITATIVE EASING
8
How should you sort your data to calculate the profit and loss?
BY DATE
FIRST DATE, THEN SYMBOL
BY SYMBOL
FIRST SYMBOL, THEN DATE
9
Where can you find your Daily Returns?
WITH YOUR TRANSACTION HISTORY
ON YOUR PORTFOLIO SUMMARY PAGE
FROM THE RANKINGS PAGE
NEXT TO YOUR PORTFOLIO GRAPH
10
How might a business insulate themselves against market uncertainty?
DIVERSIFYING THEIR PRODUCT LINE TO TRY TO REACH MORE MARKETS
PULLING MONEY OUT OF THE MARKETS AND HOLDING IT AS CASH
BUYING AN INSURANCE POLICY FOR THEIR DEBT
ALL OF THE ABOVE
11
Which of the following would NOT cause Demand to increase?
A NEW MARKETING CAMPAIGN THAT MAKES MORE PEOPLE LIKE THE PRODUCT
A LEFT SHIFT IN SUPPLY, CAUSING PRICES TO FALL
THE COST OF A COMPLIMENT FOR THIS PRODUCT GOES DOWN
THE COST OF A SUBSTITUTE FOR THIS PRODUCT GOES UP
12
Which of the following is used to calculate inflation for the purpose of Social Security payments?
CHAINED CPI
CPI-W
CPI
GDP DEFLATOR
13
How can you delete columns from your spreadsheet?
ALL OF THE ABOVE WILL PRODUCE THE SAME RESULT
BY SELECTING ALL THE CELLS AND PRESSING "DELETE"
BY SELECTING THE COLUMNS AND CLICKING "HIDE COLUMN"
BY SELECTING THE COLUMNS AND RIGHT-CLICKING TO "DELETE"
14
A "Plunder Economy" is defined by a lack of which type of property rights?
CAPITAL PROPERTY RIGHTS
INTELLECTUAL PROPERTY RIGHTS
LAND PROPERTY RIGHTS
ALL OF THE ABOVE
15
Where can you change how a chart's colors and legend appears?
PAGE LAYOUT ON THE TOP MENU
RIGHT-CLICK THE CHART AND CLICK "FORMAT"
RIGHT-CLICK THE CHART AND CLICK "SELECT DATA"
DESIGN ON THE TOP MENU
16
If the Demand line shifts right, it will cause…
THE EQUILIBRIUM PRICE TO INCREASE
SUPPLY TO SHIFT LEFT TO MAINTAIN EQUILIBRIUM
THE EQUILIBRIUM PRICE TO DECREASE
SUPPLY TO SHIFT RIGHT TO MAINTAIN EQUILIBRIUM
17
What is an event with "Well-Defined" Risk?
ANY EVENT THAT IS NOT SPLIT WITH A 50% - 50% PROBABILITY
AN EVENT WITH A VERY LOW LEVEL OF RISK
AN EVENT THAT MANY PEOPLE EXPERIENCE EVERY DAY
AN EVENT THAT THE RISK LEVEL IS KNOWN WITH SOME CERTAINTY
18
From which report do you get your trades to calculate profit and loss?
TRANSACTION HISTORY
OPEN POSITIONS
CLOSED POSITIONS
ORDER HISTORY
19
Which group would be the most likely to propose a new trade restriction?
BOTH A AND B
BUSINESS OWNERS WHO COULD POTENTIALLY PROFIT
INTERNATIONAL FREE TRADE ORGANIZATIONS TO BALANCE OUT TRADE DEFICITS
CONSUMERS FIGHTING AGAINST HIGH PRICES
20
If given the choice, which is the easiest way to get data into a spreadsheet?
TYPING IT OUT
A REFRESHABLE WEB-LOOKUP
EXPORTING FROM A WEBSITE DIRECTLY TO A SPREADSHEET
COPY AND PASTING FROM A WEBSITE
21
Which of the following is most likely to be used by an economic researcher to study long-term growth?
CHAINED CPI
CPI
CPI-W
GDP DEFLATOR
22
Which measure of the money supply would be most useful for a leading indicator of all economic activity?
M3
M1
M2
M0
23
Which of the following comes first in the economic growth cycle
INCREASE IN MONEY SUPPLY
THESE HAPPEN SIMULTANEOUSLY
INFLATION
GROWTH OF GDP
24
When calculating percent changes, how many rows of percentages will you end with?
1 MORE ROW THAN NUMBER OF DAYS
1 FEWER ROW THAN NUMBER OF DAYS
YOU CAN'T TELL UNTIL YOU START CALCULATING
THE SAME NUMBER OF ROWS AS DAYS
25
Which of the following sources of a comparative advantage for countries is closest to "Skill" for individuals?
TOTAL CAPITAL STOCK
THE COMPETENCY OF THE GOVERNMENT
HOW MUCH NATURAL RESOURCES ARE AVAILABLE TO EXPLOIT
NUMBER OF UNIVERSITY GRADUATES IN ONE FIELD
26
In the example with Alice the milkmaid and Bob the baker, which of the following would NOT be a Pareto Improvement?
BOB GIVING ALICE 1 DOZEN COOKIES AND GETTING NOTHING IN RETURN
ALICE EXCHANGING 1 GALLON OF MILK FOR 1 DOZEN OF BOB'S COOKIES
ALICE EXCHANGING 1 GALLON OF MILK FOR 1 OF BOB'S COOKIES
BOB GIVING ALICE 1 COOKIE AND GETTING 2 GALLONS OF MILK IN RETURN
27
What happens when one country imports more than it exports?
IT HAS A TRADE SURPLUS
IT MUST INCREASE EXPORTS NEXT YEAR TO BALANCE OUT
ITS CURRENCY GETS STRONGER
IT HAS A TRADE DEFICIT
28
If you need to sort data in your spreadsheet from Microsoft Excel, where would go?
THE "RESET DATA" FUNCTION UNDER "VIEW"
ONE OF THE SETTINGS UNDER "PAGE LAYOUT"
THE "SORT" FUNCTION UNDER "DATA"
DOUBLE-CLICK A COLUMN HEADING TO AUTOMATICALLY SORT IT
29
If your values appear as "####" on the spreadsheet, how can you fix it?
RE-PASTING THE DATA
INCREASING THE COLUMN WIDTH
INCREASE THE FONT SIZE
INCREASING THE ROW HEIGHT
30
Which type of economy would be the most likely to benefit from weak intellectual property rights?
A FAST-GROWING DEVELOPING ECONOMY
A SLOW-GROWING AGRICULTURAL ECONOMY IN MEDIEVAL EUROPE
A LARGE ECONOMY TRANSITIONING FROM "DEVELOPING" TO "DEVELOPED"
A MATURE ECONOMY PUSHING THE TECHNOLOGICAL FRONTIER
31
Military spending is most closely related to…
ORRECTING NEGATIVE EXTERNALITIES
CORRECTING SOCIAL INJUSTICE
CORRECTING MARKET FAILURES
FISCAL POLICY
32
Which of the following sources of a comparative advantage can be improved over time?
NATURAL RESOURCES
APTITUDE
DISTANCE
SKILL
33
How can you calculate the profit and loss per trade if you buy and sell different amounts at different times?
BY MULTIPLYING THE QUANTITY OF ONE TRADE TIMES THE PRICE OF ANOTHER
BY USING AN "AVERAGE" OF ALL THE COSTS FOR ALL TRADES ON THIS SYMBOL
BY USING AN "AVERAGE COST" CALCULATION FOR BOTH YOUR BUYS AND SELLS, THEN
BY ADDING THE "TOTAL AMOUNT" COLUMN FOR ALL TRADES ON THAT SYMBOL
34
Which of the following is the formula for the daily return % ?
=(B3 - B2)
=(C3-B2) * 100
=(B3 - B2) * 100
=(C3/B2) * 100
35
Which of the following would cause deflation?
INTEREST RATES ARE LOWERED
MORE PEOPLE PAY BACK THEIR LOANS THAN TAKE OUT NEW LOANS
THE FEDERAL RESERVE LOWERS ITS GROWTH TARGET
ALL BORROWS PAY BACK ALL LOANS ON TIME
36
Why does the Quantity Demanded decrease with price?
BECAUSE THERE ARE ALWAYS CHEAPER ALTERNATIVES
FEWER PEOPLE ARE WILLING TO BUY SOMETHING AT HIGHER PRICES
HIGHER PRICES COME FROM HIGHER INPUTS, SO IT LEADS TO SHORTAGES
BECAUSE THE LINE SLOPES DOWNWARDS

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