Exam (elaborations)
Fbla Economics Test Questions And Answers With Verified Solutions 100% Correct!!!
- Course
- Institution
Fbla Economics Test Questions And Answers With Verified Solutions 100% Correct!!!
[Show more]
Content preview
Fbla Economics Test Questions AndAnswers With Verified Solutions 100%
Correct!!!
Careful evaluation of alternatives is the best way to get the most from your money.
(True or False) - ANSWER✔✔True
The price of a product when it is new on the market is usually the highest it will
ever be. (True or False) - ANSWER✔✔True
The Department of Defense was the first to use the Internet. (True or False) -
ANSWER✔✔True
Businesses do not need to supply consumers with accurate information. (True or
False) - ANSWER✔✔False
The Right to Redress makes certain that consumers have a variety of goods and
services from which to choose. (True or False) - ANSWER✔✔False
A cover letter should encourage the employer to read your resume and increase
your chances for obtaining an interview. (True or False) - ANSWER✔✔True
If you cannot resolve problems with your job performance, it is best to resign
before your employer fires you. (True or False) - ANSWER✔✔True
Most young people do not qualify to use the simplest of the tax forms - 1040EZ.
(True or False) - ANSWER✔✔False
,Employers pay twice as much social security and Medicare as their employee's
share. (True or False) - ANSWER✔✔False
It is financially more beneficial to save your money in a bank rather than let the
government withhold more taxes than you think you will owe for the year. (True or
False) - ANSWER✔✔True
If you want to cut your spending, you'll have to start with your fixed expenses.
(True or False) - ANSWER✔✔False
The goals you set affect your family, future family, and community. (True or
False) - ANSWER✔✔True
Banks usually send reports of your checking account activity each month
describing the activity on your account. (True or False) - ANSWER✔✔True
The difference in the interest charged by banks on loans and the interest paid on
money deposited is the bank's income. (True or False) - ANSWER✔✔True
If you invest carefully, you don't have to take risks. (True or False) -
ANSWER✔✔False
Only what you like to do determines the vacation destination you should consider.
(True or False) - ANSWER✔✔False
Dieting taken to a dangerous extreme is an eating disorder that could threaten your
life. (True or False) - ANSWER✔✔True
,The outpatient portion of a policy covers treatment after you have been admitted to
the hospital. (True or False) - ANSWER✔✔False
NAFTA requires that tariffs on most goods produced and sold in North America
will be gradually increased. (True or False) - ANSWER✔✔False
In practice, trade is completely free. (True or False) - ANSWER✔✔False
A need is something that you desire to have because someone else has one. (True
or False) - ANSWER✔✔False
One of the problems in economics is that wants are unlimited. (True or False) -
ANSWER✔✔True
There are only two kinds of economic resources: human and capital. (True or
False) - ANSWER✔✔False
Labor is another name for human resources. (True or False) - ANSWER✔✔True
Some resources, such as clean air and water, are limited. (True or False) -
ANSWER✔✔True
Scarcity is a problem that is faced by individuals and businesses but not by
governments. (True or False) - ANSWER✔✔False
Economic decision making is important to businesses and governments but not to
individuals. (True or False) - ANSWER✔✔False
, Economic decision making is a process requiring four important steps. (True or
False) - ANSWER✔✔False
An arrangement that allows buyers and sellers to come together to trade goods,
services, and resources is called a market. (True or False) - ANSWER✔✔True
Determining which of its citizens should benefit from the production of goods and
services is something each nation must decide. (True or False) -
ANSWER✔✔True
When the government hires new employees, it is participating in the marketplace.
(True or False) - ANSWER✔✔True
In a system of capitalism, the government decides what will be produced with the
resources available. (True or False) - ANSWER✔✔False
In the private enterprise system, you may start or invest in any business as long it is
not illegal to do so. (True or False) - ANSWER✔✔`True
The profit motive is designed to allow lazy owners to become rich. (True or False)
- ANSWER✔✔False
The three roles that everyone must perform are worker, consumer, and saver. (True
or False) - ANSWER✔✔False
Quantity demanded means the quantity of products and services that consumers are
willing and able to buy at a particular price. (True or False) - ANSWER✔✔True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76800 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now