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GACE Economics Test II (039): 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. Which of the following is an example of hyperinflation?

Question 2 2. Harry's Hot Dog Emporium pays its employees three dollars above the market-clearing wage. The manager is inundated with applications but he can't hire anyone because his employees are loyal and don't leave. Harry's Hot Dog Emporium practices which of the following concepts?

Question 3 3. Which of the following would reduce the money supply?

Question 4 4. What is the main culprit behind an expansionary gap?

Question 5 5. Which of the following illustrates the flow of goods and services in a market economy?

Question 6 6. When a country needs help with its balance of payments because the country is in the negative, which of the following can help?

Question 7 7. Which of the following exchange rates is set by officials?

Question 8 8. When looking at the money supply, economists include which of the following in M1?

Question 9 9. Inflation is the increase in the price of goods and services over time. What do economists use to collect this data?

Question 10 10. In the state where Becky lives, there are quite a few hail storms every summer. To ensure that her car does not get damaged by a hail storm, she parks her car in the covered parking area at work. What type of risk management is Becky exercising?

Question 11 11. A company in the United States that makes many different types of athletic footwear decides to start manufacturing only their basketball shoes in a small country in Africa in order to save some money. This is an example of which of the following?

Question 12 12. A country decides to raise the tariff on imported goods made from steel. How will this affect the supply curve and therefore what effect will this have on consumers?

Question 13 13. The x-axis on an aggregate supply curve measures which of the following?

Question 14 14. A trough is part of which of the following?

Question 15 15. A transportation company needs more resources to better compete in the transportation market. If the company is offering a $10,000 signing bonus, which of the following resources is the company needing?

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GACE Economics Test II (039): 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!

GACE Economics Test II (039): Practice & Study Guide  /  GACE Prep
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