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michaela40 michaela40
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Posts: 521
Rep: 0 0
6 years ago
Which of the following countries did not experience hyperinflation in the past 20 years?
 a. South Korea
  b. Nicaragua
  c. Ukraine
  d. Bolivia
  e. Argentina

Question 2

The fundamental economic problem is:
 a. poverty.
 b. unemployment.
  c. scarcity.
 d. inflation.

Question 3

Which of the following led to an introduction of a new currency in Argentina in the mid 1980s?
 a. An economic depression
  b. A misguided political situation
  c. Social instability
  d. Hyperinflation
  e. A prolonged deflation

Question 4

Scarcity:
 a. occurs only in centrally planned economies.
 b. will likely be eliminated by technological progress.
 c. exists only in poor nations.
 d. occurs if there are insufficient resources to provide for human wants.

Question 5

Which of the following is true of hyperinflation?
 a. It causes the value of a currency to deteriorate so quickly that people become reluctant to hold that currency.
  b. It is a situation in which people hoard currency expecting its value to increase in recent future.
  c. It is a simultaneous increase in inflation and decrease in the quality of products.
  d. It occurred in the United States in the 1970s.
  e. It is a synonym for cost-push inflation.

Question 6

Which of the following goods would be considered scarce?
 a. iPods
 b. crude oil
 c. tax preparation services
  d. all of the above

Question 7

Demand-pull inflation is caused:
 a. by increases in production costs.
  b. by increases in tax rates by the government.
  c. by trade unions' pressure for wage hike.
  d. when spending increases in an economy producing at its maximum capacity.
  e. when increases in the supply of goods are exactly offset by increases in spending.

Question 8

Economics is primarily the study of:
 a. human greed.
 b. how firms compete for profits in the marketplace.
 c. how limited resources are allocated to satisfy unlimited wants.
  d. how successful investors make money in the stock market.

Question 9

Which of the following could contribute to cost-push inflation?
 a. Greater demand for exports
  b. Lower income taxes
  c. An increase in consumption demand
  d. Higher government spending
  e. Higher wage demands by trade unions

Question 10

Economics is a social science that primarily explores how:
 a. businesses market products under competitive conditions.
 b. stock and bond prices fluctuate when there are changes in demand or supply.
 c. the government allocates its budget among competing political interests.
 d. goods and services are consumed, produced and distributed in a world with limited resources.

Question 11

Which of the following is most likely to result if the Congress passes the living wage law?
 a. Cost-push inflation
  b. Demand-pull inflation
  c. Deflation
  d. Recession
  e. Stagnation

Question 12

Scarcity exists because of:
 a. the allocation of goods by prices.
 b. specialization and division of labor.
 c. the market mechanism.
 d. unlimited wants and limited resources.
Textbook 
Organizational Behaviour: Understanding and Managing Life at Work

Organizational Behaviour: Understanding and Managing Life at Work


Edition: 10th
Authors:
Read 32 times
3 Replies

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Replies
wrote...
6 years ago
Answer to q. 1

a

Answer to q. 2

c

Answer to q. 3

d

Answer to q. 4

d

Answer to q. 5

a

Answer to q. 6

d

Answer to q. 7

d

Answer to q. 8

c

Answer to q. 9

e

Answer to q. 10

d

Answer to q. 11

a

Answer to q. 12

d
michaela40 Author
wrote...
6 years ago
I sincerely appreciate your time, great answers!
wrote...
6 years ago
Thank you for commenting back, let us know if you need anything else pertaining to this...
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