Praxis Economics (5911): Practice & Study Guide Final Exam

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Question 1 1. What does a production possibility curve illustrate?

Question 2 2. Why is a point outside of the production possibility curve not obtainable?

Question 3 3. If nation A can produce more of a good or service than nation B, then nation A has which of the following?

Question 4 4. Bobblehead Bank needs to borrow money from the Federal Reserve. Which of the following applies to the loan Bobblehead Bank will receive?

Question 5 5. Which of the following describes the Federal Reserve?

Question 6 6. Brad is a high school senior who plans on attending the local college. He needs a job to help pay for tuition and other expenses. Brad has looked for a permanent job, but the only job offer he gets is as a lifeguard at the local pool, one that begins on Memorial Day and ends on Labor Day. He decides to take the job because it's better than nothing. The day after Labor Day comes around and Brad is unemployed. What type of unemployment is Brad experiencing?

Question 7 7. When the supply curve and the demand curve intersect at a certain point, the market then has which of the following?

Question 8 8. The main goal for the World Bank is which of the following?

Question 9 9. When was the World Bank created?

Question 10 10. Which of the following is NOT part of the business cycle?

Question 11 11. What is considered the guideline for declaring an economy is experiencing a recession?

Question 12 12. To see the relationship between the supply of money and inflation, you would need to use which of the following?

Question 13 13. Which of the following measures the total value of the output of goods and services in an economy in today's (or current) money?

Question 14 14. Putting a limit on the number of goods a country can import is called which of the following?

Question 15 15. Economists use the _____ to explain the link between inflation and the money supply.

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Praxis Economics (5911): 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!

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