Virtual sc economics cp Study guides, Class notes & Summaries

Virtual SC Economics CP Final Exam with Complete Solutions ___________ protect consumers against harm from products on the market a) franchises b) profit motives c) private property rights d) government regulations Correct Answer: D 19-country common market for eastern and southern Africa a) European Union b) NAFTA c) COMESA d) ANC Correct Answer: C A general rise in the level of prices over time is known as a) a catalyst b) voluntary exchange c) profit d) inflation Cor...

The study of economics involves ________________ a) explaining how people deal with scarcity b) studying how things are made, bought, sold, and used c) explaining how incomes are earned and how jobs are created d) all of these - Correct Answer: D When a nation's total output increases over time, the nation is experiencing _____________ a) a decrease in gross domestic product b) economic growth c) economic interdependence d) an expansion of the possibilities curve - Correct Answer: B

Virtual SC economics CP Final Exam Questions With Verified Solutions. It is generally believed that a sales tax a) hurts the poor b) hurts the wealthy c) is the only fair tax d) is unfair to the middle class - answerCorrect Answer: A The study of economics involves ________________ a) explaining how people deal with scarcity b) studying how things are made, bought, sold, and used c) explaining how incomes are earned and how jobs are created d) all of these - answerCorrect Answer: D W...

Which of the following is THE basic economic problem? Select one: a. explaining how people deal with scarcity b. studying how things are made, bought, sold, and used c. explaining how incomes are earned and how jobs are created d. all of these - ANS a. explaining how people deal with scarcity

It is generally believed that a sales tax a) hurts the poor b) hurts the wealthy c) is the only fair tax d) is unfair to the middle class - ANSWER Correct Answer: A The study of economics involves ________________ a) explaining how people deal with scarcity b) studying how things are made, bought, sold, and used c) explaining how incomes are earned and how jobs are created d) all of these - ANSWER Correct Answer: D