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As the price of a good rises in a market, it acts as a signal:
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
A man has $100 to invest and hopes to receive 10 times the amount back ($1,000) by the end of 5 years. This could be BEST accomplished by
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
A good example of the effect of education on income would be that
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
Which of the following is an example of an investment in human capital?
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
The opportunity cost associated with going to college instead of taking a full-time job for $20,000 per year includes:
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
The fundamental problem of economics is:
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
When economists measure the responsiveness of consumers to changes in price, they are measuring:
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
The government has recently raised the excise tax on gasoline making it more expensive. Which of the following consumer responses would NOT be a predictable response to this government imposed negative incentive?
Consumers take more vacations that require long-distance car travel
All of the above
purchasing $100 worth of stock in a start-up company
the price elasticity of demand.
A business trains a new employee.
the scarcity of factors of production relative to the unlimited wants of humans.
people with college degrees usually earn more than those with less education
to producers that they should supply a greater quantity of the good.
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