Are you ready for this FSOT practice quiz on economics? This quiz may be of assistance. You will be responsible for grasping the supply/demand economic theory. Who is South America’s only OPEC member, what is the communist manifesto, what does laissez-faire mean, what book did Adam Smith write, what economic style are you most influenced by, and which currency is no longer traded? See how you are with money matters and take the quiz.
An increased supply of low-cost wheat.
Social unrest.
No supply of low-cost wheat.
A scarcity of low-cost wheat.
Mexico.
Brazil.
Bolivia.
Venezuela.
William McKinley.
Theodore Roosevelt.
Franklin D. Roosevelt.
William Taft.
Stayed the same.
Fallen.
Increased.
Remained immeasurable.
The Invisible Hand.
Das Kapital.
Mein Kampf.
The Communist Manifesto.
That the government intervene in markets to protect the vulnerable.
That the economy should regulate itself without government intervention.
That the government intervene only in regulating the money supply.
None of the above.
Declaration of Independence.
The Wealth of Nations.
Das Kapital.
The Creation of Wealth.
Member countries agreed to combat currency fluctuations by pegging their currency to gold and a reserve currency.
Member countries created the IMF.
Member countries created the International Bank for Reconstruction.
Member countries created the Marshall Plan.
Sterilize the inflows by soaking up the currency and purchasing international bonds.
Sterilize the inflows by issuing domestic bonds.
Peg their currency to the dominate export market's currency.
Peg their currency to the dollar.
Keynes.
Smith.
Mark.
Ricardo.
Increase.
Stay the same.
Decline.
None of the above.
US Steel.
Edison Power.
AT&T.
Standard Oil.
Gold is intrinsically valuable.
As a respective currency weakens, speculators know that governments will purchase gold to prop up their currency.
It is seen as a reliable store of value.
None of the above.
Baht.
Forint.
Mark.
Ruble.
Mass irrational behavior.
Farmers avoiding the variable cost of taking their products to market.
Farmers attempting to recover their base cost.
The rising marginal cost of producing corn or wheat.
Germany.
China.
United States.
Japan.
A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
A cost of living index.
An exact measure of inflation.
None of the above.
Bird flu.
Mad cow.
AIDS.
All of the above.
Upward.
Downward.
Leftward.
Rightward.
An expatriate Indian engineer's wages in New York.
A U.S. Embassy employee whose wages are deposited in a local New Delhi bank.
A thief's ill-gotten goods from a tourist visiting the Taj Mahal.
An Indian peasant trading chicken for rice.
See themselves as working-class.
Do not believe in social classes.
See themselves as middle-class.
Resent the domination of middle-class values.
Lack of legislation governing royalties.
A decline in quality and low market prices.
A lack of local capital.
Political instability and government corruption.
More goods and services are available for domestic use than are able to be consumed.
Gold reserves increase.
Net foreign investment is negative.
Domestic exports of merchandise exceeds imports of merchandise.
Traders from Venice traded gold for Chinese spices and silks.
Arab traders traded salt for gold from Mali.
Europeans traded gold for products such as sugar and cloth from the Middle East.
All of the above.
Car.
Sugar.
Chocolate.
Coffee
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