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AEPA Economics (AZ035): Practice & Study Guide Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Movement along a demand curve is caused by which of the following?

Question 2 2. When a nation has a lower opportunity cost to produce a good, it is called _____.

Question 3 3. The type of advertising that focuses on a new product category is which of the following?

Question 4 4. Matt is taking his family to a baseball game and wants to purchase hot dogs and beverages while they are there. He needs to stay within a budget so to help illustrate this to his family, he creates a transformation curve. He tells his children that he cannot choose a point to the right of the curve. Why?

Question 5 5. The First Bank of Kalesville holds 15% of each deposit and lends out the remaining 85%. This is an example of which of the following?

Question 6 6. According to Adam Smith, which of the following leads to market equilibrium?

Question 7 7. _____ is a reason consumers look for a variety of goods.

Question 8 8. The economic system under which prices are not adjusted based on supply and demand is which of the following?

Question 9 9. The collection of taxes being based on the ability to pay BEST describes which tax system?

Question 10 10. Which of the following credit protection laws was enacted in 2010?

Question 11 11. The relationship between inflation and unemployment is illustrated using which of the following?

Question 12 12. Capital, labor and land are all types of which of the following?

Question 13 13. Which of the following is NOT a criteria for formulating an economic question?

Question 14 14. Which of the following theories of product liability addresses a seller's communication of a guarantee?

Question 15 15. If Dan wants his class to illustrate the fact that when an economy produces more of one product, it produces less of another, what would he tell his students to use in order to depict this scenario?

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AEPA Economics (AZ035): Practice & Study Guide Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

AEPA Economics (AZ035): Practice & Study Guide  /  AEPA Prep
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