Economics EOCT Prep

Which group in the U.S. establishes the nation's monetary policy?

What is meant by Voluntary Exchange?

One major difference between banks and credit unions is that

A person who opposes free trade would MOST likely

You quit your job to move to another city

Which of the following is an example of government transfer payments?

Which of the following is an example of entrepreneurship?

Which of the following statements about the disadvantages of credit cards is FALSE?

You lose your job because the economy is not growing

Which of the following is a limit on the number of a particular item that can be imported

Which of these choices is the MOST likely effect of a strong U.S. dollar?

Which of the following might benefit from unanticipated inflation?

How are MOST public goods and services paid for in the U.S.

The government imposes a maximum limit on the price of gasoline that is lower than equilibrium

What impact would increasing the money supply have on interest rates?

In which of the following situations are two nations MOST likely to trade?

What is the relationship between the national debt and the government's budget deficit this yea

Which of the following would cause a new demand curve?

Which of the following represents an investment in human capital?

A sales tax is

If a nation has an increase in its resources. How would this be shown on the PPC?

Which of the following would shift the supply curve to the right?

How are economic questions answered in a command economy?

Which basic economic problem does the U.S. share with all other nations?

Which sentence describes market conditions at the equilibrium price?

Leo and Alex wash and wax cars. If Leo washes cars and Alex waxes cars, this represents

If the price of new cars increases, and the quantity demanded decreases

What are the three basic economic questions that all nations must answer?

If the government's fiscal policy is designed to expand the economy,

Which government decision below represents possible effects of deregulation

Product differentiation, or branding, is a characteristic of firm in which market structure?

Since the early 1960s, the U.S. government has forbidden all imports from Cuba. This is

Which is the MOST important function of government patents in a market economy

Which situation might the Fed Reserve sell government securities and raise the discount rate

Which of the following is the most commonly used tool of the Federal Reserve

If GDP is decreasing and unemployment is increasing, what steps might the Federal Reserve take

Which worker BEST illustrates the problem of cyclical unemployment?

At what point on a graph would be the market clearing price?

Actively seeking a job after graduation from college

Which of the following would be considered Fiscal Policy?

If the price of apples increases from $1.50 to $2.00, this is an example of

Workers with a cost of living adjustment in their wage contracts

What is one result of the North American Free Trade Agreement (NAFTA)

What impact does contractionary policy have on Aggregate Demand?

A sales tax is considered regressive because

Which issue might a professor of microeconomics specialize in?

A person who invests in Mutual Funds is choosing an investment that

You lose your job because you are being replaced by technology

Henry decides to deposit $50 of his money into his college savings rather than buy a video

Which sentence best describes the organization of the Fed Reserve?