Economics: High School 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. Why do banks choose to borrow directly from the Fed?

Question 2 2. Which of the following statements about the financial/capital account is NOT true?

Question 3 3. What is human capital?

Question 4 4. Last year, an assembly-line worker earned $10 per hour when the Consumer Price Index (CPI) was 100. This year, the same worker earned $12 per hour, but the CPI has increased to 125. What happened to the worker's real wage?

Question 5 5. During the 1970s, why did the Phillips curve not hold true?

Question 6 6. John Maynard Keynes believed that fiscal policy designed to deal with budgets should _____

Question 7 7. The image illustrates the supply and demand for coffee. What is the equilibrium price (per pound) and quantity (pounds)?

Question 8 8. Which of the following will a Keynesian economist most likely favor if the economy is operating at point a?

Question 9 9. If a 10% change in price leads to a 30% change in the quantity demanded, then what is the elasticity?

Question 10 10. When someone deposits money into a savings account, this demand deposit becomes _____ to the bank?

Question 11 11. Which of the following is NOT a benefit of specialization and exchange?

Question 12 12. A person or nation that has a comparative advantage in the production of a good, should _____.

Question 13 13. Jim owns a custom printing business. According to the theory of rational expectations, how would he reach a decision about whether to expand his business in the next year?

Question 14 14. One of the biggest capital markets is the stock market which is associated with all of the following except

Question 15 15. Decreasing personal tax rates through fiscal policy will most likely result in:

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Economics: High School 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!

Economics: High School  /  Business Courses
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