BEHAVIORAL ECONOMICS EXAM 2025/2026 WITH 100% ACCURATE ANSWERS
What is one cause of scarcity? - (ANSWER)limited resources
The primary purpose of a conclusion in an informative essay is to - (ANSWER)refer back to the thesis.
Total output is a synonym for - (ANSWER)Gross Domestic Product
Which economic indicators are used to measure the global economy? Check all that apply. -
(ANSWER)purchasing power parity
trade volumes
gross domestic product
Which organization created a shared economy? - (ANSWER)European Union
Corporate taxes are a type of - (ANSWER)income tax
Why do most nations use fiat money today? - (ANSWER)Governments are able to exert control over the
value of fiat money.
Demand-pull inflation occurs when - (ANSWER)consumers show an interest in purchasing more goods.
Economists use GDP to measure - (ANSWER)any economic growth or shrinkage.
What is true of the M1 category of money? - (ANSWER)It can be easily liquidated.
Which is an example of comparative advantage? - (ANSWER)A country decides to grow wheat and when
another country raises cattle.
What is one example of a closed economy? - (ANSWER)a restricted system that blocks trade with
international partners
, BEHAVIORAL ECONOMICS EXAM 2025/2026 WITH 100% ACCURATE ANSWERS
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue
production of shirts to focus on jeans. The $15 and discontinuation of shirt production are represented
by which of the following sets of terms? - (ANSWER)production cost; opportunity cost
Embargoes, quotas, and standards are tools that countries use - (ANSWER)to punish other countries.
Gross domestic product (GDP) is the value of goods and services produced in a country annually. It can
best be described as measuring an economy's - (ANSWER)total output
Jacob is considering buying a new car. Which nonrenewable resource should influence the decision? -
(ANSWER)petroleum
Read the format of an outline for an informative essay.
1. _____________________
A. Thesis statement
2. Subtopic body sentence
A. Evidence
B. Evidence
3. Subtopic body sentence
A. Evidence
B. Evidence
Which item would best fill in the blank space? - (ANSWER)Introduction
A mixed-market economy is one in which - (ANSWER)there is competition and free enterprise.
What is one cause of scarcity? - (ANSWER)limited resources
The primary purpose of a conclusion in an informative essay is to - (ANSWER)refer back to the thesis.
Total output is a synonym for - (ANSWER)Gross Domestic Product
Which economic indicators are used to measure the global economy? Check all that apply. -
(ANSWER)purchasing power parity
trade volumes
gross domestic product
Which organization created a shared economy? - (ANSWER)European Union
Corporate taxes are a type of - (ANSWER)income tax
Why do most nations use fiat money today? - (ANSWER)Governments are able to exert control over the
value of fiat money.
Demand-pull inflation occurs when - (ANSWER)consumers show an interest in purchasing more goods.
Economists use GDP to measure - (ANSWER)any economic growth or shrinkage.
What is true of the M1 category of money? - (ANSWER)It can be easily liquidated.
Which is an example of comparative advantage? - (ANSWER)A country decides to grow wheat and when
another country raises cattle.
What is one example of a closed economy? - (ANSWER)a restricted system that blocks trade with
international partners
, BEHAVIORAL ECONOMICS EXAM 2025/2026 WITH 100% ACCURATE ANSWERS
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue
production of shirts to focus on jeans. The $15 and discontinuation of shirt production are represented
by which of the following sets of terms? - (ANSWER)production cost; opportunity cost
Embargoes, quotas, and standards are tools that countries use - (ANSWER)to punish other countries.
Gross domestic product (GDP) is the value of goods and services produced in a country annually. It can
best be described as measuring an economy's - (ANSWER)total output
Jacob is considering buying a new car. Which nonrenewable resource should influence the decision? -
(ANSWER)petroleum
Read the format of an outline for an informative essay.
1. _____________________
A. Thesis statement
2. Subtopic body sentence
A. Evidence
B. Evidence
3. Subtopic body sentence
A. Evidence
B. Evidence
Which item would best fill in the blank space? - (ANSWER)Introduction
A mixed-market economy is one in which - (ANSWER)there is competition and free enterprise.
