Final Exam.pdf - Unit 8 Final Exam Results for Ndap Tah...

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Unit 8: Final Exam Results for Ndap Tah Correct answers are hidden. Score for this quiz: 130out of 300 * Submitted Dec 4 at 1:59am This attempt took 119 minutes. 5 / 5 pts Question 1Economics is the study of: the efficient use of scarce resources paid for at the minimum level of cost to consumers and businesses.increasing the level of productive resources so there is maximum output in society.how people, institutions, and society make choices under conditions of scarcity.increasing the level of productive resources so there is a minimum level of income.
5 / 5 pts Question 2The basic requirement of money is that it be:
5 / 5 pts Question 3An increase in product price will cause:
5 / 5 pts Question 4The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320); imports ($35); exports ($22); personal consumption expenditures ($2,460); and, government purchases ($470). What is GDP in this economy?
5 / 5 pts Question 5Which of the following is the basic economic policy function of the Federal Reserve Banks? the collection or clearing of checks among commercial banksholding the deposits or reserves of commercial banksacting as fiscal agents for the Federal governmentcontrolling the supply of money
5 / 5 pts Question 6A decrease in government spending will cause a(n):
5 / 5 pts Question 7Which is considered a strength of monetary policy compared to fiscal policy?
5 / 5 pts Question 8The interest rate that banks charge one another on overnight loans is called the:
5 / 5 pts Question 9If the interest rate is above equilibrium, the: Quantity of money demanded would be less than the quantity of money suppliedQuantity of money demanded would be greater than the quantity of money suppliedDemand for money would increase and the supply of money would decrease
Supply of money would increase and the demand for money would decrease

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