Prescriptive Test — Cumulative exam Answers
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue production of shirts to focus on jeans. For this company, the $15 is the _______, and discontinuation of shirt production is considered their __________.
A certificate of deposit pays a higher interest rate than a savings account because the money is
Most often, an insurance deductible must be fulfilled
Public property is land or goods
The higher a country’s gross domestic product (GDP), the more likely it is that the country
Angela is considering buying stock in a popular computer software company whose price has dropped significantly in the last year. Why might this be a wise move for Angela to make?
What is an example of scarcity
When entrepreneurs develop new products, other companies also experience growth because they
Which situations are examples of how credit scores determine nonfinancial opportunities for consumers? Check all that apply.an employer determining whether a job candidate is smartan employer hiring someone to handle financial informationan apartment owner gauging whether a tenant might break the rulesan apartment owner determining whether to rent a unit to someonea car insurance company setting rates based on where someone livesa car insurance company predicting the likelihood of future claims
The graph shows a demand curve with the price of a good compared to the quantity demanded.What does this graph demonstrate?
Which organization created a shared economy?
Which are affected by the factors of production? Choose three answers.the demand of the itemthe availability of the itemthe cost of the itemthe quality of the itemthe popularity of the item
Hayek believed that the economy could be hard to measure because
Which economic indicators are used to measure the global economy? Choose four answers.purchasing power paritytrade volumesspending power paritylabor market datagross domestic producttrade deficits and surpluses
What is the role of the three questions of economics?
In a free market system, price control can include both a floor and a .
Which best describes how expansionary policies can facilitate economic growth?
The law of demand applies most directly to which group?
Insurance offers consumers
proportionallyprogressivelyregressively
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