PBM Module 1 Assessment: Chapter 1 & Chapter 2
Quiz by Pa'Trice Day Owens
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- Q1
Productivity would likely increase as a result of
None
High Taxes
Decreased training program
Expanded production and technology
45s - Q2
The phase of the business cycle in which unemployment is the highest is
Peak
Expansion
Recovery
depression/recession
45s - Q3
Deflation is the state in which the prices of products and services go down. This is always a good thing for the economy and its citizens.
False
True
45s - Q4
A bear Market is when citizens and businesses are optimistic about spending money
falsetrueTrue or False45s - Q5
Lower government spending would cause a surplus in the federal budget.
truefalseTrue or False45s - Q6
Which of these are characteristics of a capital project?
Your employer cancels the health insurance benefit
A new road at the airport
An excavating company purchases a new backhoe
You buid a house for your family
45s - Q7
The total amount owed by the federal government is called the
Budget Surplus
National Debt
Bull Market
Budget Debt
45s - Q8
Layoffs and a downturn in the economy would likely result in a
Depression
Recession
Peak
Capital Projects
45s - Q9
Inflation is caused by an increase in demand without an increase in supply
truefalseTrue or False45s - Q10
The purchase of stock in a corporation will ...
Give you ownership in a company.
Prevent companies from manufacturing goods.
Helps companies borrow money from investors.
Prevent companies from creating goods
45s - Q11
Interest rated in the United States are controlled by
The US Congress
Securities and Exchange Commission (SEC)
The US Senate
The Federal Reserve (The FED)
45s - Q12
When consumers, businesses or the government spend more than they receive in income, it is called a .
budget surplus
debt
balanced budget
budget deficit
45s - Q13
Larry had $50 to spend. He decided to buy a new video game instead of going to the movies with his friends. Larry's decision is called
Scarcity
The process of decision-making
An economic trade-off
Puchasing a product
45s - Q14
An ability to produce more goods and services in less time makes it possible to reduce the number of hours in a work week. This is referred to
Productivity that requires no inputs or outputs
Productivity that does not require any specialization, skills, or knowledge
Productivity which increases the GDP
Productivity that is measured by inflation
45s - Q15
___________ is most harmful to people living on fixed income.
Prosperity
Productivity
Bull Market
Inflation
45s