Economics practice test help pease.?
30.) What did America experience in the 1920′s?
An economic boom
An economic bust
A long bull market
A long bear market
31.) October 24, 1929, the day when 13 million shares were sold is now known as:
Black Monday
Black Tuesday
Black Thursday
Black Friday
32.) In America, during the _____, the number of workers providing services grew until it equaled and then surpassed the number who produced goods.
1930s
1950s
1970s
1990s
33.) Stagflation is a situation in which a nation’s economy is characterized by relatively:
high price inflation and low rates of economic growth.
low price inflation and high rates of unemployment.
high rates of economic growth and low price inflation.
low unemployment rates and high rates of economic growth.
34.) Communism is an economic theory which stresses that the control of the means of producing economic goods in a society should reside in the hands of those who:
have the biggest economic advantage.
invest their labor for production.
have the most education.
are elected to office by the public.
35.) In a typical ________ arrangement, a successful company authorizes an individual or small group of entrepreneurs to use its name and products in exchange for a percentage of the sales revenue.
wholesale
franchising
marketing
corporate
36.) Which of the following does not form a true statement by correctly completing the sentence?
Large businesses are important to the overall economy because they are better equipped to:
conduct research and develop new goods.
offer more varied job opportunities and greater job stability.
offer higher wages and better health and retirement benefits.
provide the goods and services wanted by the surrounding community.
37.) In general, government antitrust officials see a threat of monopoly power when a company gains control of ________ of the market for a commodity or service.
25%
30%
66.6%
90%
38.) Which of the following is not one of the roles of the Environmental Protection Agency (EPA)?
sets and enforces tolerable limits of pollution
cleans up polluted streams, rivers, and marshes
establishes timetables to bring polluters into line with standards
has the authority to coordinate and support research and anti-pollution efforts
39.) Which of the following are not practiced market strategies?
Buying on margin
Selling short
Selling long
Options
40.) ________ is an economic policy or doctrine that opposes government interference in or regulation of business or commerce beyond what is necessary for a free-enterprise system to regulate itself.
Communism
Laissez-faire
Fiscal policy
Free-enterprise policy
41.) Which of the following is not a method that corporations use to raise capital?
issuing bonds or preferred stock
selling common stock
borrowing and using profits
selling goods and services directly to the public
42.) Monetary base is defined as:
currency in circulation.
currency in circulation plus foreign debts owed.
currency in circulation plus banks’ required and excess deposits at the central bank.
bank’s required and excess deposits at the central bank.
43.) A policy is referred to as _______ if it reduces the size of the money supply or raises the interest rate. An _______ policy increases the size of the money supply, or decreases the interest rate.
contractionary, expansionary
expansionary, contractionary
fiscal, monetary
monetary, fiscal
44.) Governments spend money on a wide variety of things. Which of the following is not a way in which these expenditures can be funded?
Taxation of the population
Seignorage, the benefit from printing money
Borrowing money from another country, resulting in a foreign deficit
Borrowing money from the population, resulting in a fiscal deficit
45.) When products become more expensive over time, ______ is occurring.
deflation
inflation
stagflation
none of the above
46.) A(n) _____ is an economic disadvantage, such as lower efficiency or higher costs.
diseconomy
noneconomy
net loss
unexpected loss
47.) Keynesian economics is an economic theory based on the ideas of 20th century British economist John Maynard Keynes. Keynesian economics promotes a ________, where both the state and the private sector play an important role.
fixed economy
mixed economy
socialist economy
communist economy
48.) Because economics is a study of ______, it deals with incentives and their consequences.
cause and effect
profits and losses
wealth and social status
money and will power
49.) In 1652, the _______ became the first American colony to make coins.
Roanoke Colony
Plymouth Colony
Massachusetts
a c d b d
a b d c a
c d b a c
d b c a
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