Econ: Exam Review

Which expenditure will be the same whether you lease or buy a vehicle?

What budget allocation can be changed if you alter your daily spending habits?

What must people taking out a mortgage agree to?

What is an advantage of an adjustable- rate mortgage?

Which example best describes avoiding risky behavior?

Which question can best help a consumer asses risk when purchasing insurance?

Angela is considering buying stock in a popular computer software company whose price has dropped significantly since last year. Why might this be a wise move for Angela to make?

Compound interest is usually better than simple interest because it pays

A low risk investment might have a high price if

Which best describes one of the primary aims of government fiscal policy?

Which situations are examples of how credit scores determine no financial opportunities for consumers?

What is a way victims of identity theft in Florida can track activity on their credit report?

Unlike collateral, Down payments

What type of credit is most likely to be unsecured?

Daryl would like to open new checking and saving accounts. One of his primary concerns is avoiding bank fees. Which type of banking institution is most suitable for Daryl?

In which situation would a savings account be the best investment to earn interest?

Sebastian and Mia want to buy a home valued at $250,000. The property tax for this location is 1%. Based on the current value of the home, what would their property tax be?

What role do special government agencies play in protecting buyers?

An income is measured as

Savings should be treated as another type of

What statement best describes on-the-job training?

Which statement is most accurate about the hourly pay a worker receives?

Emma is trying to decide whether to buy a new laptop. As a student, she has a budget and wants to make sure this is the right financial decision. Which question should she ask herself in determining the opportunity cost of this purchase?

Do all accounts serve the same function? Why or why not?

The higher a country's GDP, the more likely it is that the country

A mix market economy is one in which

How do trade agreements help the countries involved?

Which organization created a shared economy?

Which best describes why governments enact tariffs?

Embargos, quotas, and standards are tolls that countries use

Businesses can use globalization to their advantage

Which economic indicators are used to measure the global economy?

If it becomes less expensive to travel overseas from the U.S, American tourists are benefiting from the fact that

What is an example of comparative advantage?

It country A is an agricultural country and Country B has many cities and factories, it makes sense for

What is 1 reason why the government would preclude financial assistance to an entrepreneur?

When entrepreneurs develop new products, other companies also experience growth because they

What happens to a corporation after its owners retire?

A corporation enables members to pool their products for a better

People who oppose labor union believe that unions

John Maynard Keynes developed new economic theories in response to the

Hayek believed that the economy could be hard to measure becahse

When does government regulate producers in mix market economy?

A regulatory agency that attempts to limit risk in banking system is

Why is slow growth that can result from a contraction set police a positive effect?

The feds aim in responding to a recession is to decrease

Corporate taxes are a type of

If expansionary taxation policies are left unchecked, which is most likely result

When it spends money on education, a government is trying to

When the government injects money into the economy, consumers may have more purchasing power, which may result in

Which best describes why a company issued stocks?

Market performance in the United States is tracked using stock _______, which use formulas to calculate price changes

Why do most nations use fiat money today?

What is true of the M1 category of money?

What is the best definition of hyperinflation?

Demand- Pull inflation occurs when

An extended recessionary period is indicative of a

What do the indicators used by economists reveal?

Economists use GDP to measure

Which are indicators that economists use to measure how an economy grows?

GDP is a value of goods and services produced in a country annually. It can best be described as measuring an economy's

Aggregate supply is best described as the

The factors of production include the number of

Which best describes how advertising influenced consumer choice in an oligopoly?

Which best describes an an opportunity cost?

What are the 2 steps a producer can take to gain an absolute advantage?

What is the best definition of profit?

In a market system, price controls can include both floors and ________

Which occurs during disequilibrium?

A company that makes mobile phones introduces a newer, faster model that has strong consumer interest. However, the old model is still available. What will most likely happen to the price of the old model and why?