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Econ Review

Econ Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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20 questions

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1.

FLASHCARD QUESTION

Front

Scenario: Take-home pay drops for Los Angeles residents for third straight month how does the market for restaurants respond?

Back

Price and Quantity Decrease

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Answer explanation

2.

FLASHCARD QUESTION

Front

Scenario: What is the impact on the coal market when a government imposes stricter regulations on mining?

Back

Price increases and quantity decreases

Media Image

Answer explanation

Government Action

3.

FLASHCARD QUESTION

Front

Scenario: Surgeon General warns that eating beef can be hazardous to health. Options: Price and quantity increase, Price and Quantity Decrease, Price decreases and quantity increases, Price increases and quantity decreases

Back

Price and Quantity Decrease

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Answer explanation

Consumer Taste

4.

FLASHCARD QUESTION

Front

Scenario: The state of California requires a special low-emission formula of gasoline to be sold at gas stations in the state. Gas market does what?

Back

Price increases and quantity decreases

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Answer explanation

Government action

5.

FLASHCARD QUESTION

Front

Scenario: The “waffle diet” is sweeping the country, what is expected to happen in the syrup market?

Back

Price and quantity increase

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Answer explanation

Complementary Goods

6.

FLASHCARD QUESTION

Front

Which of the following points on the PPF display productive efficiency? Options: Points A, B, C, D, and F; Points A, B, C, and D only; Points B, C, D, and F only; Points A, C, D, and F only

Media Image

Back

Points A, B, C, D, and F

7.

FLASHCARD QUESTION

Front

What is one of the main factors that can push out the PPF over time?

Back

Improvements in technology.

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