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Economics

Quiz by Larson, Vallarie

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36 questions
Show answers
  • Q1
    Inflation is an increase in the general level of prices.
    False
    True
    30s
  • Q2
    Interest is the amount of money a bank charges you to save money.
    False
    True
    30s
  • Q3
    The interest rate is the tax you pay when you buy a car.
    True
    False
    30s
  • Q4
    A labor force is the total number of people who are either working or not working but are actively seeking work.
    False
    True
    30s
  • Q5
    The unemployment rate is the percentage of people in the labor force who are not working but are actively pursuing work.
    False
    True
    30s
  • Q6
    School teachers work in the public sector
    False
    True
    30s
  • Q7
    Our economy is based on producing and selling goods and services
    False
    True
    30s
  • Q8
    Jobs in retail mean jobs working with computers
    True
    False
    30s
  • Q9
    Agriculture is no longer important to the economy of Nevada
    False
    True
    30s
  • Q10
    Tourism is one of the leading industries in Nevada
    True
    False
    30s
  • Q11
    A consumer is
    none of these
    The value or pice of goods or services
    A person who buys and uses goods and services
    A condition where human wants exceed available resources
    30s
  • Q12
    Cost is
    The value or price of goods or services
    A person who buys and uses goods and services
    Anything given up when a choice is made, in time or money
    None of these
    30s
  • Q13
    Demand is
    anything given up when a choice is made, in time or money
    The quantity of a good or service that buyers are willing to buy
    the cost of an item
    None of these
    30s
  • Q14
    An entrepreneur is
    An index that measures the average level of prices of goods and services typically consumed by an urban American family
    A person who creatively combines resources to produce and sell a good or service
    None of these
    The value or price of goods or services
    30s
  • Q15
    Opportunity cost is
    Anything given up when a choice is made in time or money
    A measure of the production of goods and services within a country
    The concentration of effort on only one task or a few tasks
    none of these
    30s

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