PLATO / Edmentum End of Semester Test :
Economics Exam Questions With
Correct And Revised Answers.
The Northville School Board has proposed this budget for the upcoming school year: -
answer✔✔upgrading the computer lab hardware, getting new instruments
A company is struggling to finish the required accounting work for its financial year-end. The
employees are unwilling to stay late to complete the work. If the company does not complete its
work, it will be in serious trouble. So, the managers decide to pay the staff a bonus for every
hour they stay during this period. After the employees worked extra hours for a few days, the
work was completed and everyone was happy. What was the incentive for the employees in this
scenario? - answer✔✔money
Which two sentences describe incentives? - answer✔✔The person to complete the work first will
be rewarded. Harry's boss also announces that people working overtime will be eligible for a
bonus.
John works for a factory and receives a weekly paycheck. He typically places 3% of each
paycheck into a bank savings account. The money placed in the savings account ______ the
economy.
In addition to providing savings accounts to customers, like John, the bank invests money in
several businesses. The money that the bank invests ____ the economy. - answer✔✔leaks out
from, is injected back into
The government of a country has introduced a few economic policies for the current financial
year. Which of these policies is John Maynard Keynes most likely to disagree with? -
answer✔✔Food exporters can export as much wheat as they want, while in the past they were
limited to 50 tons.
Entrepreneurs are no longer restricted from importing raw materials.
What is money supply? - answer✔✔the total amount of money circulating in the economy
Match the scenarios with the economic concepts they illustrate. - answer✔✔price of gold =
substitution
price of gas = income
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