Exam (elaborations)
SC VIRTUAL economics CP final exam Questions with Correct Solutions
- Course
- Institution
SC VIRTUAL economics CP final exam Questions with Correct Solutions
[Show more]
Seller
Follow
Content preview
SC VIRTUAL economics CP finalexam Questions with Correct
Solutions
According to Keynesian economics, which sector of the economy could offset a decline
in business spending?
a) consumer
b) business
c) government
d) foreign - ANSWER Correct Answer: C
Equilibrium is reached when what occurs?
a) quantity demanded equals quantity supplied
b) there is no change in the quantity supplied
c) price increases
d) prices are inelastic - ANSWER Correct Answer: A
Fiscal policy may involve _________
a) estimating the GDP
b) regulating labor unions
c) recognizing an economic problem
d) taxing corporations - ANSWER Correct Answer: D
In the economic term oligopoly, the word part "olig-" probably means __________
a) few
b) single
c) all
d) one - ANSWER Correct Answer: A
The Federal Income Tax system is
a) efficient
,b) simple
c) regressive
d) equitable (fair) - ANSWER Correct Answer: A
Which of the following groups does supply-side policy target through stimulation?
a) producers
b) consumers
c) workers
d) government - ANSWER Correct Answer: producers
President Reagan tried to reduce government spending by _____________
a) raising taxes
b) reducing the federal deficit
c) deregulating corporations
d) lowering taxes - ANSWER Correct Answer: D
The government does not try to eliminate all monopolies. Why?
a) it would be impossible
b) not all monopolies (such as natural monopolies) are bad
c) the government itself is a monopoly
d) there aren't any monopolies anymore - ANSWER Correct Answer: B
What level of government is most closely associated with zoning restrictions?
a) federal
b) interstate
c) state
d) local - ANSWER Correct Answer: D
Which of the following be identifies the incidence of the individual income tax?
a) frequency
b) workers
, c) corporation
d) wages - ANSWER Correct Answer: B
During the Civil War, Congress enacted the National Currency Act, which
a) created a National Banking System
b) raised money for the Union
c) created a national currency
d) all of these answers - ANSWER Correct Answer: D
In the early 1800s, currency in the United States was issued by
a) the fed
b) congress
c) banks
d) a central bank - ANSWER Correct Answer: C
Printed on a Federal Reserve note is this statement "THIS NOTE IS LEGAL TENDER
FOR ALL DEBTS, PUBLIC AND PRIVATE." This reflects money's function as
a) a medium of exchange
b) a measure of value
c) a store of value
d) any of these answers - ANSWER Correct Answer: A
Which agency manufactures U.S. paper money?
a) the Bureau of the Mint
b) the Comptroller of the Currency
c) the Federal Deposit Insurance Corporation
d) the U.S. Bureau of Engraving and Printing - ANSWER Correct Answer: D
Which of the following can cost you money in large interest payments?
a) a debit card
b) a credit card
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 KenAli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.29. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81298 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now