Question

22. The needs of producers and consumers are BEST met at a point called _______________. A...

22.

The needs of producers and consumers are BEST met at a point called _______________.

A

market equilibrium
B

supply equilibrium
C

demand equilibrium
D

market ceiling

19.

A policy that makes use of protective tariffs and quotas is called _______________.

A

trade-wise decisions
B

protectionism
C

free trade
D

productivity boosters

18.

  1. Since we cannot have everything we want, we have to _______________.

    A

    face the problem of scarcity
    B

    make trade-offs
    C

    make choices
    D

    all of these

17.

The recent trend in the balance of trade for the US has been _______________.

A

more exports than imports
B

nations with comparative advantage are trading more with the U.S.
C

the U.S. is depending more on itself for production and trading less
D

more imports than exports

16

The expansion of trade has made the nations of the world more _______________.

A

isolated
B

interdependent
C

independent
D

insensitive

15

The economic system closest to the pure command model is _______________.

A

capitalist
B

socialist
C

authoritarian
D

traditional

14

Higher prices that cause employees to ask for raises, causing producers to raise prices, describes the _______________.

A

wage-price spiral
B

workfare program
C

demand-pull theory
D

business cycle

13

A major effect of lowering the reserve requirement for member banks by the Board of Governors of the Federal Reserve System would be _______________.

  1. increase in the supply of money
  2. an increase in commercial bank loans
  3. an increase in government spending
  4. a “tight money” policy
A

I and III
B

I, II, III and IV
C

I only
D

I and II

12.Fiat money is _______________.

A

money that is valuable only because the government says it is
B

money in checking accounts
C

money that has value as a good
D

near money that can easily be comverted into money

11

Which of the following are parts of the Federal Reserve System?

  1. Federal Open Market Committee
  2. Department of the Treasury
  3. Board of Governors
  4. Federal Reserve banks
A

I, II, III and IV
B

I, III and IV
C

I, II and III
D

II, III and IV

10

In a market system, the three basic economic questions are answered by _______________.

A

practiced customs and traditiions
B

individuals in the marketplace
C

government established rules
D

the Department of Commerce

9

Which of the following statements best describes the relationship of the federal deficit to the federal debt?

A

The federal deficit has no impact on the federal debt.
B

The federal debt leads to borrowing, which adds to the federal debt.
C

The federal deficit is another term for the federal debt.
D

The federal deficit leads to borrowing, which adds to the federal debt.

8

How do tariffs work to protect infant industries?

A

They raise the trade barriers for imports of child-care products.
B

They increase competition for a new business, forcing it to be more productive.
C

They reduce sales taxes for new products.
D

They reduce foreign competition by making foreign products more expensive.

7

A check is considered money because checks are _______________.

A

easier to carry than metal coins
B

easily obtained from a bank
C

generally accepted in payment of goods and services
D

similar in appearance to paper money

1

All of the following are problems associated with high national debt EXCEPTthat it _______________.

A

forces interest rates to unusually low and unprofitable levels
B

reduces funds available for businesses to invest
C

can slow the growth of the GDP
D

makes it harder for the government to fund projects

64

When a surplus occurs, suppliers tend to _______________.

A

raise prices
B

maintain prices
C

issue ration coupons
D

lower prices
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

22.

The needs of producers and consumers are BEST met at a point called

A

Market Equilibrium

19.

A policy that makes use of protective tariffs and quotas is called protectionism.

18)All Of these is the correct answer. We cannot have everything that we want,so we have to face scarcity,tradeoffs,choices.

17)The recent trend in the balance of trade for the US has been

Nations with comparitive advantage are trading more with US.

16

The expansion of trade has made the nations of the world more Interdependent.

15

The economic system closest to the pure command model is Authoritarian.

14

Higher prices that cause employees to ask for raises, causing producers to raise prices, describes the Wage price spiral.

Since there are many questions,as per the guidelines ,I can answer only four questions.

I have answered seven.

If you have any doubts please comment...

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
4- What is it called when the Fed takes actions that result in an increase in...
4- What is it called when the Fed takes actions that result in an increase in the money supply? A. Contractionary fiscal policy B. Expansionary fiscal policy C. Contractionary monetary policy D. Expansionary monetary policy 5. If the federal government finances a deficit by borrowing, we can expect A. National debt will decrease B. More income taxes will be collected C. Higher interest rates due to the higher demand for loanable funds D. Higher Inflation in the economy E. All...
1.The Federal Reserve System is responsible to A. regulate securities exchanges. B. conduct monetary policy. C....
1.The Federal Reserve System is responsible to A. regulate securities exchanges. B. conduct monetary policy. C. provide payment and other services to certain types of financial institutions. D. setting bank prime rates. E. both B and C. 2.         Which of the following does the Federal Reserve Banks do in regard to bank supervision? I. Examinations of state-chartered member banks II. Approval of member bank and bank holding company acquisitions III. Provide deposit insurance A. I only B. I and...
If the economy is full employment, an increase in aggregate demand will most likely lead to:...
If the economy is full employment, an increase in aggregate demand will most likely lead to: a reduction in the general level of prices an increase in unemployment an increase in real output, but not in prices an increase in prices, but not in real output. In order to reduce the rate of inflation in a rapidly growing, full-employment economy, it would be appropriate for the Federal Reserve to Increase income tax rates Sell government bonds Reduce reserve requirements Print...
Which of the following actions would cause an increase to the money supply? A. The New...
Which of the following actions would cause an increase to the money supply? A. The New York Fed trading desk sells Treasury securities in the secondary market. B. The Federal Reserve Board of Governors raises the discount rate. C. The New York Fed trading desk purchases Treasury securities in the secondary market. D. The Federal Reserve Board of Governors raises the reserve requirements. E. both (C) and (D).
Which of the following are examples of diversifiable risk? I. An earthquake damages an entire town...
Which of the following are examples of diversifiable risk? I. An earthquake damages an entire town II. The federal government imposes a $100 fee on all business entities III. Employment taxes increase nationally IV. All toymakers are required to improve their safety standards A. I and IV only B. II and IV only C. I and III only D. I, III, and IV only
The Keynesian_____-price model is represented by a_______aggregate supply curve. a variable; vertical b fixed; vertical c...
The Keynesian_____-price model is represented by a_______aggregate supply curve. a variable; vertical b fixed; vertical c variable; horizontal d fixed; horizontal If government spending and taxes increase by the same amount, equilibrium real GDP_____. a rises b falls c remains constant d none of the above An artificial unit of account that is an average of the values of several national currencies. a International Reserve Asset b International Reserve Currency c Composite Currency d European Currency Unit The official policymaking...
1. Suppose the national income is $850 billion, mpc = 0.8 and autonomous consumption is $60...
1. Suppose the national income is $850 billion, mpc = 0.8 and autonomous consumption is $60 billion. What is the level of consumption spending (in $ billions)? (Hint the C component in the aggregate expenditure approach to calculating GDP, also just write the value and not the $ or billions afterwards) ? 2. Some money is backed by gold, others are commodity money, the U.S. uses money backed by the declaration of the U.S. government. What type of money is...
61. A country is most likely to eliminate the consumption of imports by a/an _______________. A....
61. A country is most likely to eliminate the consumption of imports by a/an _______________. A. protective tariff B. import quota C. Revenue tariff D. export quota 60.The purpose of expansionary fiscal policy is to _______________. A. prevent hyperinflation B increase output C increase the separation between government and private industry D slow the growth of GDP 57. All of the following are tools of supply-side economics EXCEPT _______________. A cutting spending for government, social and regulatory programs B deregulating...
36. In the event of inflation, what is the effect on a two income family whose...
36. In the event of inflation, what is the effect on a two income family whose major asset is a house financed by a fixed rate mortgage? A not hurt by inflation B hurt by inflation 35. A telephone receptionist loses his job when a computerized voice mail system is installed at his office. He is _______________. A structurally unemployed B frictionally unemployed C cyclically unemployed D seasonally unemployed 34. The policy made by the Federal Reserve to regulate the...
Which one of the following are examples of systematic risk? I. the exchange rate rises against...
Which one of the following are examples of systematic risk? I. the exchange rate rises against the other major currencies II. a national sales tax is adopted III. an explosion occurs at a chemical plant IV. the Federal Reserve surprisingly raises interest rates by one quarter of a percent Answers: a. I, II, III, and IV b. I, III, and IV c. I and II d. I, II, and IV e. II and IV
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT