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ECON 214 Quiz Saving and Investment (Liberty University) FALL 2024
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---5October 20242024/2025
- Figure 27-1 
The figure depicts a demand-for-loanable-funds curve and two supply-of-loanablefunds curves. 
A graph shows a straight line, Demand, decreasing linearly from left to right, a 
second straight line, S 1, increasing linearly from left to right, and a third straight 
line, S 2, increasing linearly from left to right, to the right of and parallel to S 1. 
Refer to Figure 27-1. Which of the following events would shift the supply curve 
from S1 to S2? 
a. In response to tax reform, house...
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ECON 214 Quiz Unemployment ( Liberty University) FALL 2024
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---5October 20242024/2025
- In an ideal labor market, wages would adjust to balance the quantity of labor 
supplied and the quantity of labor demanded, ensuring that all workers are always 
fully employed. 
a. True 
 b. False 
Minimum wages create unemployment in markets where they create a 
a. surplus of labor. Unemployment of this type is called 
frictional. 
b. surplus of labor. Unemployment of this type is called 
structural. 
c. shortage of labor. Unemployment of this type is called 
structural. 
d. shortage of labor....
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ECON 214 Quiz Monetary and Fiscal Policy (Liberty university) FALL 2024
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---6October 20242024/2025
- 1. Which of the following would not be an expected response from a decrease in 
the price level and so help to explain the slope of the aggregate-demand 
curve? 
a. When interest rates fall, In-and-Out Convenience Stores decides to build 
some new stores. 
b. The exchange rate falls, so French restaurants in Paris buy more 
Kansas beef. 
c. Tyler feels wealthier because of the price-level decrease and so he decides to 
remodel his kitchen. 
d. With prices down and wages fixed by contract, Fargo ...
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Oldspice
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Exam (elaborations)
Econ 214 TOP PASSED Exam Questions and CORRECT Answers
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---6May 20242023/2024A+
- open market operationsBuying & selling government securities to change the supply of 
money 
monetary policyGovernment policy that attempts to manage the economy by 
controlling the money supply and thus interest rates. 
money supplythe quantity of money available in the economy 
moneyanything that serves as a medium of exchange, a unit of account, and a store of 
value 
quantity of moneyis the sum of deposits and currency 
quantity equationM x V = P x Y
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MGRADES
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Exam (elaborations)
Econ 214 Certification Exam Questions and CORRECT Answers
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---7May 20242023/2024A+
- Gross Domestic Product:The market value of all final goods and services produced 
within a country during a specific period. 
Intermediate Goods:Goods purchased for resale or for use in producing another good or 
service. 
Final market goods and services:Goods and services purchased by their ultimate user. 
What counts towards GDP?1. Only final goods and services count 
2. Only transactions involving production count (produced) 
3. Only production within the country is counted 
4. Only goods ...
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MGRADES