Virtual SC Economics CP Final Exam with Complete Solutions

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 Correct Answer: D A nation's wealth is determined by its ______________ a) accumulation of all tangible and intangible resources b) natural resources c) accumulation of all tangible products d) product possibilities frontier Correct Answer: C A person who owns a share of stock is known as a) a money manager b) a bond holder c) a stockholder d) a stock broker Correct Answer: C A strategy of holding different kinds of investments to minimize risk is known as _____________ a) balancing investments b) safeguarding c) mixing and matching d) portfolio diversification Correct Answers: D According to Keynesian economics, which sector of the economy could offset a decline in business spending? a) consumer b) business c) government d) foreign Correct Answer: C All of the following are good ways to save money short term except a(n) ______________ a) money market b) certificate of deposit (CD) c) mutual fund d) savings account Correct Answer: C An economic and travel area made up of 28 European nations (soon to be 27 following the withdrawal of the United Kingdom) is known as the ________________ a) commonwealth of nations b) European Union