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LATEST Econ Post Test QUICK PASS 2024
When the price of good A rises, people start to drink good B. In this case. - CORRECT ANSWER Good B is a substitute good. An increase in the price of a good would be illustrated on a demand graph as a: - CORRECT ANSWER Movement along the demand curve upward. If the number of consumers in the market for good A increases, what will happen to the equilibrium price and quantity of good A? - CORRECT ANSWER Equilibrium price and quantity will both increase According to the law of demand, as a p...
- Exam (elaborations)
- • 2 pages •
When the price of good A rises, people start to drink good B. In this case. - CORRECT ANSWER Good B is a substitute good. An increase in the price of a good would be illustrated on a demand graph as a: - CORRECT ANSWER Movement along the demand curve upward. If the number of consumers in the market for good A increases, what will happen to the equilibrium price and quantity of good A? - CORRECT ANSWER Equilibrium price and quantity will both increase According to the law of demand, as a p...
LATEST ECON 528 Final
Economists typically define money as: A. anything in which its value can be inflated. B. a means of payment that lacks intrinsic value. C. currency that is issued by a central bank. D. a widely accepted means of payment. - ANSWERS D Are checking accounts money? A. No, because checking accounts cannot be traded for goods and services. B. Yes, because checking accounts can be used to buy goods and services. C. No, because checking accounts are not physical money. D. Yes, because the value...
- Exam (elaborations)
- • 24 pages •
Economists typically define money as: A. anything in which its value can be inflated. B. a means of payment that lacks intrinsic value. C. currency that is issued by a central bank. D. a widely accepted means of payment. - ANSWERS D Are checking accounts money? A. No, because checking accounts cannot be traded for goods and services. B. Yes, because checking accounts can be used to buy goods and services. C. No, because checking accounts are not physical money. D. Yes, because the value...
LATEST Econ Chapter 14 CORRECT ANSWERS 100%
When reference is made to the ____________, it means the specific amount of income needed for a basic standard of living. A. poverty trap B. income line C. income gap D. poverty line - ANSWER D A situation of __________ arises when one group receives a higher share of total income or wealth than others. A. poverty B. inequality C. poverty entrapment D. quintiles - ANSWER B Antipoverty programs that are set up so that the amount of government benefits will decline substantially as po...
- Exam (elaborations)
- • 14 pages •
When reference is made to the ____________, it means the specific amount of income needed for a basic standard of living. A. poverty trap B. income line C. income gap D. poverty line - ANSWER D A situation of __________ arises when one group receives a higher share of total income or wealth than others. A. poverty B. inequality C. poverty entrapment D. quintiles - ANSWER B Antipoverty programs that are set up so that the amount of government benefits will decline substantially as po...
Updated Econ week 12 QUICK PASS 2023//2024
When the central bank decides it will sell bonds using open market operations - ANSWER the money supply decreases When the central bank decides to increase the discount rate, the interest rates - ANSWER increase Atlantic Bank is required to hold 10% of deposits as reserves. if the central bank increases the discount rate, how would atlantic bank respond? - ANSWER by increasing its reserves _____ will often cause monetary policy to be considered counterproductive because it makes it hard ...
- Exam (elaborations)
- • 3 pages •
When the central bank decides it will sell bonds using open market operations - ANSWER the money supply decreases When the central bank decides to increase the discount rate, the interest rates - ANSWER increase Atlantic Bank is required to hold 10% of deposits as reserves. if the central bank increases the discount rate, how would atlantic bank respond? - ANSWER by increasing its reserves _____ will often cause monetary policy to be considered counterproductive because it makes it hard ...
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