What is the primary reason goods and services are considered scarce?

Economic Concepts and Relationships

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Social Studies, Business
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10th - 12th Grade
•
Hard

Aiden Montgomery
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
They are not needed.
They are expensive.
Factors of production are limited.
They are unlimited.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT included in the calculation of GDP?
Net exports
Government purchases
Used items
Gross investment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of unemployment occurs when there is a mismatch between the skills of workers and the jobs available?
Structural unemployment
Frictional unemployment
Seasonal unemployment
Cyclical unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the AS-AD model, what does a rightward shift in the aggregate demand curve indicate?
A decrease in price level
An increase in real GDP
A decrease in unemployment
An increase in inflation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of expansionary fiscal policy?
To decrease the money supply
To increase taxes
To reduce government spending
To fight unemployment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a function of money?
Medium of exchange
Store of value
Unit of account
Source of income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the nominal interest rate when the money supply increases?
It decreases
It increases
It becomes negative
It remains unchanged
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