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Intro to BUSN Quiz

2

QuestionAnswer
In the context of the global economic crisis, _____ are defined by experts as loans to borrowers with low credit scores, high debt-to-income ratios, or other signs of a reduced ability to repay the money they borrow. subprime mortgages
In the context of the global economic crisis, which of the following statements is true of subprime mortgage loans? They were seen by the lenders as low-risk loans.
Which of the following was a result of the collapse of financial institutions during the economic crisis in the United States? Companies began to announce layoffs.
Which of the following is a difference between the Troubled Assets Relief Program (TARP) and the American Recovery and Reinvestment Act? TARP was a $700 billion economic bailout plan, whereas the American Recovery and Reinvestment Act was an $825 billion economic stimulus package.
In the context of fiscal policy, most economists agree that: lower taxes can leave more money in people's pockets for them to spend or invest.
Which of the following statements is true of the fiscal cliff? It was a package of draconian across-the-board spending cuts.
Which of the following statements best describes a budget deficit? It is the shortfall that occurs when expenses are higher than revenue over a given period of time.
In the context of monetary policy, which of the following statements is true of commercial banks? They accept demand deposits and make loans for the public.
In the context of monetary policy, which of the following statements is true of open market operations? They involve securities that the government issues to finance its deficit spending.
In the context of monetary policy, when the Fed reduces the discount rate, banks: can obtain funds at a lower cost.
If the Federal Reserve increases the reserve requirement, _____. banks must hold more funds
Which of the following statements is true of capitalism? The vast majority of enterprises are privately owned by businesses.
The right to fair competition is one of the fundamental rights of: capitalism.
In the context of the different degrees of competition, which of the following is a reason why monopolies are considered illegal? They can harm the economy.
Cleftell Inc., a coal mining company in the United States, is the only supplier of coal in its area. The company is backed by the government as it offers its supplies at a discounted rate. Government backing makes it easier for the company to deal with le Natural monopoly
In a free market system, _____ refers to the quantity of products that consumers are willing to buy at different market prices. Demand
The nation of Platinia provides its citizens with free healthcare and education services. The government of Platinia funds these programs through high taxation. In addition to these services, the government also runs utilities, telecommunications, and sev socialist economic system
_____ is an economic and political system that calls for public ownership of virtually all enterprises, under the direction of a strong central government. Communism
A pure market economy: does not make sufficient provision for the environment.
The nation of Radonia recently approved the sale of its national railway service to a company called Dontsky Rail Corporation. The company has no association with the country's government and operates on its own terms. The sale of Radonia's national railw Privatization
Identify a true statement about real gross domestic product (GDP)? It usually tends to be understated as it does not include any illegal activities.
The _____ is the percentage of people in the labor force over age 16 who do not have jobs and are actively seeking work. unemployment rate
The periodic contraction and expansion that occur over time in virtually every economy is known as the _____. business cycle
The prices of all the commodities have gone up in the country of Sraznesia, and this has led to country-wide protests. The situation worsens as the average prices increase more than 50% a month, resulting in more aggressive protests from the citizens. In Hyperinflation
The _____ is a measure of inflation that evaluates the change over time in the weighted-average wholesale values. producer price index
In the context of evaluating economic performance, which of the following statements is true of productivity? A low level of productivity tends to correlate with a stagnant economy.
Created by: seandoeletsgetit
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