Economics

Is this your test? Login to manage it. If not, you can develop an exam just like it.

This is a non-interactive preview of the quiz content.

1 point

New technology tends to shift the supply curve to the right.

True

False

1 point

As prices rise on a demand schedule quantities increase.

True

False

1 point

100 people are standing in line to buy x-boxes. There are only 50 available in the store. This is an example of scarcity.

True

False

1 point

There is no such thing as a free lunch.

True

False

1 point

The total production of goods and services created within a country during a calendar year is known as ______________.

Production

Capital

GDP

Cost approach

1 point

The entire material universe exclusive of people and their products is __________.

Capital

Land

Production

All of the above

1 point

GDP stands for __________________________.

Gross Domestic Product

Greenspan Designed Pay

General Designed Price

Giant Deficit Problem

1 point

A ________ is a basic requirement for survival and includes food, water and shelter.

want

production

need

supply

1 point

Productivity increases when workers decide to work more ____________.

slowly

quickly

rapidly

efficiently

10.

1 point

This causes a change in supply:

Cost of inputs

productivity

technology

all of the above

Home Features Pricing FAQs Legal Sample Tests Build a Test Login/Sign Up