N/A — Exam

Question 1

Banks that offer low interest rates to people with good credit

Revolt · Accepted Answer

maximize profits at little risk.

Question 2

When it spends money on education, a government is trying to

Revolt · Accepted Answer

meet a social need and improve the economy.

Question 3

An income is measured as

Revolt · Accepted Answer

an amount received in a specific period: weekly, biweekly, or yearly.

Question 4

Which are affected by the factors of production? Choose three correct answers.

Revolt · Accepted Answer

the cost of the item; the quality of the item; the availability of the item

Question 5

An annual percentage rate, or APR, represents how much

Revolt · Accepted Answer

interest is paid over a year.

Question 6

Daryl would like to open new checking and savings accounts. One of his primary concerns is avoiding bank fees. Which type of banking institution is most suitable for Daryl?

Revolt · Accepted Answer

a credit union

Question 7

What is the price at which equilibrium is achieved?

Revolt · Accepted Answer

$9

Question 8

This chart demonstrates that the marginal cost

Revolt · Accepted Answer

initially decreases as production increases.

Question 9

Producer A’s opportunity cost would be

Revolt · Accepted Answer

choosing to grow both fruit varieties or only apples.

N/A — Exam Answers

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