Which of the following best describes structural unemployment?

people who have no real skills at all

All of the following are negative externalities EXCEPT

police violence against citizens

Which would be an example of a positive externality?

someone playing loud music everyone likes

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Economics Final Exam Review

80 termsStudBud Administration7,925 plays

Econ final

Flashcards80 cardsFPractice quizPHost liveL

Questions 80

Answers

1
Which state has the honeybee as its official insect?
Georgia
Texas
Nebraska
New Mexico
2
Milk duds were first produced in the U.S. in what year?
1955
1926
1937
1971
3
All of the following are determinants of demand EXCEPT
number of buyers
income
price
preferences
4
The SEC monitors what group?
stock market
federal reserve
the military
congress
5
About how much money in interest does the govt have to pay each year?
130 billion
500 billion
65 billion
1.3 trillion
6
Laissez faire is an economic term meaning what?
supply equals demand
competition is good
demand creates supply
leave it alone
7
What sort of tax system is hardest on the poor?
regressive
proportional
value added tax
progressive
8
Which of the following best describes structural unemployment?
people who have no real skills at all
people between jobs
people working at jobs beneath their training
people not looking for a job
9
All of the following things are sold by cartels EXCEPT
illegal drugs
real estate
diamonds
oil
10
Which future teen idol's first acting gig was on Barney and Friends?
Nick Canon
Lindsey Lohan
Miley Cyrus
Selena Gomez
11
How many full time employees does Google have?
47,100
61,814
100,300
24,505
12
Fiscal policy is controlled by
federal reserve
president only
state governments
president and congress
13
A patent is usually good for ____ years.
22
13
7
17
14
The Communist Manifesto talked about struggle between
govts and citizens
whites and blacks
rich and poor
workers and owners
15
The minimum wage is an example of a price
ceiling
floor
16
Where is the tallest roller coaster in the world (456 feet high)?
New Jersey
Germany
Australia
Florida
17
Who regulates the Federal Reserve?
no one
various federal courts
the president
congress
18
All of the following are negative externalities EXCEPT
oil spill in Alaska
police violence against citizens
traffic around a large mall
crime near a casino
19
What is the leading cause of death in Panama?
colon cancer
stroke
heart disease
violence
20
How many calories are in one Big Mac?
466
563
245
710
21
What tax system has the rich pay the most in taxes?
progressive
value added
Regressive
flat
22
All of the following are correlated with poverty EXCEPT
history of family poverty
race
political affiliation
married or single status
23
All of the following are determinants of supply EXCEPT
availability of resources
buyer income
govt actions
supplier expectations
24
What dog breed on average lives the longest (15 years)?
Toy poodle
Shih Tzu
Collie
Maltese
25
All of the following contain Vitamin E EXCEPT
Olive oil
Almonds
Pecans
Wheat germ
26
What city has the most Burger King's per capita?
Las Vegas
San Jose, CA
Orlando
Chicago
27
Lincoln Park Zoo is located in what large city?
Los Angeles
Chicago
Houston
New York
28
What country does the U.S. owe the most money to?
Japan
China
India
Germany
29
Which market structure has hundreds of companies that make similar products?
monopolistic competition
perfect competition
duopoly
oligopoly
30
The soft drink industry is a good example of a
oligopoly
duopoly
monopoly
monopolistic competition
31
PWM is the airport code for what U.S. airport?
Lake Tahoe
Pittsburg
Memphis
Portland
32
What was Jennifer Lawrence's high school GPA?
1.5
3.3
2.7
3.9
33
Your fixed costs as a business are also called your
operating costs
total costs
variable costs
overhead costs
34
Which would be an example of a positive externality?
increased police presence
a new law requiring strict air pollution controls
someone playing loud music everyone likes
a thriving stock market
35
The first IPhone came out in what year?
2012
2007
2010
2005
36
A bull market is when the stock market is doing what?
spinning in circles
going up
going down
doing nothing
37
How heavy is Shaquille O'Neil?
315
344
287
388
38
All of the following are factors of production EXCEPT
entrepreneurship
land
government permits
labor
39
What is the main export of Poland?
oil
meat
machinery
lead
40
The discount rate refers to
social security benefits
monetary policy
stock market loans
fiscal policy
41
OPEC is a cartel that sells what?
diamonds
drugs
oil
gold
42
Social Security makes up about _____ percent of all govt spending.
14
23
19
28
43
A ______ monopoly involves advanced weapons or new drugs.
government
geographical
technical
natural
44
Price floors usually create a/an ________ of a good or service.
excess
shortage
45
What is the largest discretionary part of our federal budget?
retirement benefits
Medicare
national defense
social security
46
Which number is closest to our national debt?
20 trillion
7.8 Kabillion
36 trillion
14 trillion
47
Which NFL team has lost the Super Bowl game 5 times?
Cowboys
Bills
Packers
Dolphins
48
What was the name of the penguin in Toy Story?
Chester
Sammy
Fla fla
Weezy
49
How many Starbucks are in Los Angeles?
156
265
121
188
50
What is the main function of the pancreas?
regulate blood flow
aids in digestion
produce red blood cells
process protien intake
51
A negative externality is a _____ that someone must deal with.
cost
regulation
tax
law
52
What percent of the world's population has red hair?
4%
2%
6%
8%
53
Which state produces the most pickles every year?
Maine
California
North Carolina
Mississippi
54
What is the length of a regulation NBA court?
116 feet
94 feet
102 feet
90 feet
55
Americans consume how many pounds of avocados each Cinco de Mayo?
237 million
81 million
122 million
55 million
56
All of the following debts can be discharged in bankruptcy EXCEPT
very old past taxes
credit cards
federal student loans
small personal loans
57
Pi is 3.141592653____ . . . . what is the next number?
0
5
9
2
58
A copyright would protect what?
a new drug
a picture of a famous person
computer hardware
lyrics
59
A recession is when GDP is down for how many months?
9
12
3
6
60
All of the following were doll friends of Barbie EXCEPT
Midge
Christie
Lacy
PJ
61
All of the following are fiscal policy tools EXCEPT
raising taxes
lowering the discount rate
govt can hire more workers
increase govt spending
62
An example for oligopoly would be what industry?
soft drinks
resturants
gas stations
shoes
63
The U.S. only won any Olympic medal in one of the following. . . which one?
Fencing
Table tennis
Badminton
Handball
64
A production possibility curve shows that all things in life involve
a tradeoff
costs
energy
effort
65
How many companies make up the Dow Jones Industrial Average?
30
50
10
20
66
What percent of the American population has A positive blood?
18%
51%
34%
25%
67
What is it called when you pay for the right to use the name of an established company?
franchise
corporation
partnership
sole proprietorship
68
Fiscal policy involves the manipulation of ____ to effect the economy.
bond availability
bank reserves
interest rates
taxes
69
"Economies of scale" refers to that it is better to have ________.
one provider of a good
government regulation
progressive taxation
multiple companies in a market
70
What did my true love get on the 7th day of Christmas?
lords a leaping
swans swimming
sing birds
pipers piping
71
Who is the current head of the Federal Reserve?
Kamala Harris
Janet Yellen
Ben Bernanke
Eric Holder
72
All of the following are Lil Flip albums EXCEPT
Undaground Legend
Connected
The Black Dr. Kevorkian
Lil Red Ridin da Hood
73
All of the following are examples of a price ceiling EXCEPT
cap on gas prices
a govt set price for farm goods
tuition at a state college
rent control
74
Required reserves that banks must keep is associated with
income tax rates
fiscal policy
regressive tax rates
monetary policy
75
A person's credit score can go anywhere from ____ to ______.
300 to 850
350 to 800
250 to 800
300 to 800
76
Adam Smith said that people act out of
compassion
self interest
greed
hatred
77
The law of supply says that as price goes up, _____ goes ______.
supply goes up
demand goes down
supply goes down
demand goes up
78
Which of the following could be called an in-kind subsidy or payment?
WIC
food stamps or SNAP
TANF
Social Security
79
What percent of Americans officially live in poverty in the U.S. for 2015?
12%
6%
17%
23%
80
In socialism most businesses are owned by _______.
a few rich people
the government
private owners
everyone

Economics Final Exam Review Flashcards | StudBud

Economics Final Exam Review

80 termsStudBud Administration7,925 plays

Econ final

Flashcards80 cardsFPractice quizPHost liveL

Questions 80

Answers

1
Which state has the honeybee as its official insect?
Georgia
Texas
Nebraska
New Mexico
2
Milk duds were first produced in the U.S. in what year?
1955
1926
1937
1971
3
All of the following are determinants of demand EXCEPT
number of buyers
income
price
preferences
4
The SEC monitors what group?
stock market
federal reserve
the military
congress
5
About how much money in interest does the govt have to pay each year?
130 billion
500 billion
65 billion
1.3 trillion
6
Laissez faire is an economic term meaning what?
supply equals demand
competition is good
demand creates supply
leave it alone
7
What sort of tax system is hardest on the poor?
regressive
proportional
value added tax
progressive
8
Which of the following best describes structural unemployment?
people who have no real skills at all
people between jobs
people working at jobs beneath their training
people not looking for a job
9
All of the following things are sold by cartels EXCEPT
illegal drugs
real estate
diamonds
oil
10
Which future teen idol's first acting gig was on Barney and Friends?
Nick Canon
Lindsey Lohan
Miley Cyrus
Selena Gomez
11
How many full time employees does Google have?
47,100
61,814
100,300
24,505
12
Fiscal policy is controlled by
federal reserve
president only
state governments
president and congress
13
A patent is usually good for ____ years.
22
13
7
17
14
The Communist Manifesto talked about struggle between
govts and citizens
whites and blacks
rich and poor
workers and owners
15
The minimum wage is an example of a price
ceiling
floor
16
Where is the tallest roller coaster in the world (456 feet high)?
New Jersey
Germany
Australia
Florida
17
Who regulates the Federal Reserve?
no one
various federal courts
the president
congress
18
All of the following are negative externalities EXCEPT
oil spill in Alaska
police violence against citizens
traffic around a large mall
crime near a casino
19
What is the leading cause of death in Panama?
colon cancer
stroke
heart disease
violence
20
How many calories are in one Big Mac?
466
563
245
710
21
What tax system has the rich pay the most in taxes?
progressive
value added
Regressive
flat
22
All of the following are correlated with poverty EXCEPT
history of family poverty
race
political affiliation
married or single status
23
All of the following are determinants of supply EXCEPT
availability of resources
buyer income
govt actions
supplier expectations
24
What dog breed on average lives the longest (15 years)?
Toy poodle
Shih Tzu
Collie
Maltese
25
All of the following contain Vitamin E EXCEPT
Olive oil
Almonds
Pecans
Wheat germ
26
What city has the most Burger King's per capita?
Las Vegas
San Jose, CA
Orlando
Chicago
27
Lincoln Park Zoo is located in what large city?
Los Angeles
Chicago
Houston
New York
28
What country does the U.S. owe the most money to?
Japan
China
India
Germany
29
Which market structure has hundreds of companies that make similar products?
monopolistic competition
perfect competition
duopoly
oligopoly
30
The soft drink industry is a good example of a
oligopoly
duopoly
monopoly
monopolistic competition
31
PWM is the airport code for what U.S. airport?
Lake Tahoe
Pittsburg
Memphis
Portland
32
What was Jennifer Lawrence's high school GPA?
1.5
3.3
2.7
3.9
33
Your fixed costs as a business are also called your
operating costs
total costs
variable costs
overhead costs
34
Which would be an example of a positive externality?
increased police presence
a new law requiring strict air pollution controls
someone playing loud music everyone likes
a thriving stock market
35
The first IPhone came out in what year?
2012
2007
2010
2005
36
A bull market is when the stock market is doing what?
spinning in circles
going up
going down
doing nothing
37
How heavy is Shaquille O'Neil?
315
344
287
388
38
All of the following are factors of production EXCEPT
entrepreneurship
land
government permits
labor
39
What is the main export of Poland?
oil
meat
machinery
lead
40
The discount rate refers to
social security benefits
monetary policy
stock market loans
fiscal policy
41
OPEC is a cartel that sells what?
diamonds
drugs
oil
gold
42
Social Security makes up about _____ percent of all govt spending.
14
23
19
28
43
A ______ monopoly involves advanced weapons or new drugs.
government
geographical
technical
natural
44
Price floors usually create a/an ________ of a good or service.
excess
shortage
45
What is the largest discretionary part of our federal budget?
retirement benefits
Medicare
national defense
social security
46
Which number is closest to our national debt?
20 trillion
7.8 Kabillion
36 trillion
14 trillion
47
Which NFL team has lost the Super Bowl game 5 times?
Cowboys
Bills
Packers
Dolphins
48
What was the name of the penguin in Toy Story?
Chester
Sammy
Fla fla
Weezy
49
How many Starbucks are in Los Angeles?
156
265
121
188
50
What is the main function of the pancreas?
regulate blood flow
aids in digestion
produce red blood cells
process protien intake
51
A negative externality is a _____ that someone must deal with.
cost
regulation
tax
law
52
What percent of the world's population has red hair?
4%
2%
6%
8%
53
Which state produces the most pickles every year?
Maine
California
North Carolina
Mississippi
54
What is the length of a regulation NBA court?
116 feet
94 feet
102 feet
90 feet
55
Americans consume how many pounds of avocados each Cinco de Mayo?
237 million
81 million
122 million
55 million
56
All of the following debts can be discharged in bankruptcy EXCEPT
very old past taxes
credit cards
federal student loans
small personal loans
57
Pi is 3.141592653____ . . . . what is the next number?
0
5
9
2
58
A copyright would protect what?
a new drug
a picture of a famous person
computer hardware
lyrics
59
A recession is when GDP is down for how many months?
9
12
3
6
60
All of the following were doll friends of Barbie EXCEPT
Midge
Christie
Lacy
PJ
61
All of the following are fiscal policy tools EXCEPT
raising taxes
lowering the discount rate
govt can hire more workers
increase govt spending
62
An example for oligopoly would be what industry?
soft drinks
resturants
gas stations
shoes
63
The U.S. only won any Olympic medal in one of the following. . . which one?
Fencing
Table tennis
Badminton
Handball
64
A production possibility curve shows that all things in life involve
a tradeoff
costs
energy
effort
65
How many companies make up the Dow Jones Industrial Average?
30
50
10
20
66
What percent of the American population has A positive blood?
18%
51%
34%
25%
67
What is it called when you pay for the right to use the name of an established company?
franchise
corporation
partnership
sole proprietorship
68
Fiscal policy involves the manipulation of ____ to effect the economy.
bond availability
bank reserves
interest rates
taxes
69
"Economies of scale" refers to that it is better to have ________.
one provider of a good
government regulation
progressive taxation
multiple companies in a market
70
What did my true love get on the 7th day of Christmas?
lords a leaping
swans swimming
sing birds
pipers piping
71
Who is the current head of the Federal Reserve?
Kamala Harris
Janet Yellen
Ben Bernanke
Eric Holder
72
All of the following are Lil Flip albums EXCEPT
Undaground Legend
Connected
The Black Dr. Kevorkian
Lil Red Ridin da Hood
73
All of the following are examples of a price ceiling EXCEPT
cap on gas prices
a govt set price for farm goods
tuition at a state college
rent control
74
Required reserves that banks must keep is associated with
income tax rates
fiscal policy
regressive tax rates
monetary policy
75
A person's credit score can go anywhere from ____ to ______.
300 to 850
350 to 800
250 to 800
300 to 800
76
Adam Smith said that people act out of
compassion
self interest
greed
hatred
77
The law of supply says that as price goes up, _____ goes ______.
supply goes up
demand goes down
supply goes down
demand goes up
78
Which of the following could be called an in-kind subsidy or payment?
WIC
food stamps or SNAP
TANF
Social Security
79
What percent of Americans officially live in poverty in the U.S. for 2015?
12%
6%
17%
23%
80
In socialism most businesses are owned by _______.
a few rich people
the government
private owners
everyone