AnswersAcademy - Economics and Personal FinanceUnit Test

Unit Test Answers

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What is true of representative money? Check all that apply.

A
It can be exchanged for a valuable good.
B
It was once the most common form of money.
C
It was used in systems involving a "gold standard."
D
It can be traded for a commodity such as silver.
E
It is made with precious metals or stones.
22
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Read a passage from a speech given by President Barack Obama.Because of this plan, families who are struggling to pay tuition costs will receive a $2,500 tax credit . . . And Americans who have lost their jobs in this recession will be able to receive extended unemployment benefits.–President Barack Obama, February 4, 2009

A
It describes government measures to stimulate demand and bring about a recovery.
B
It describes government measures to increase production and bring about a depression.
C
It describes a shift in government policies during a trough on the business cycle.
D
It describes a shift in government policies during a peak on the business cycle.
23

Which is true about investments and risk?

A
Low-risk investments have a high return over the long run.
B
High-risk investments usually fail.
C
Safe investments are always somewhat profitable.
D
Every investment carries some degree of risk.
24

The term liquidity refers to

A
how quickly money can be exchanged.
B
the true monetary value of an investment.
C
the shifting supply of money in the economy.
D
how much wealth an individual has amassed.
25

Capital appreciation refers to

t
the increased value of an asset.
t
the ability to make a profit from owning stock.
t
the distribution of earnings to shareholders.
t
the profitable sale of shares.

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