ITB Chapter 2 Question Preview (ID: 38352)


BUS230 Economics And The Global Economy. TEACHERS: click here for quick copy question ID numbers.

Each of the following is a function of money EXCEPT ____.
a) serving as medium of exchange
b) maintaining stable value
c) offering unit of value
d) providing store of value

The total amount of money in circulation in a country is called ____.
a) the money supply
b) fiat money
c) usable money
d) the Federal Budget

When the government spends more money than it gets in revenue, it causes ____.
a) inflation
b) deflation
c) a budget deficit
d) a budget surplus

OSHA is designed to protect...
a) Employers
b) Employees
c) Consumers
d) Food and Drug Administration

The exclusive right granted to an author for his work is known as ____.
a) a patent
b) intellectual property
c) a trademark
d) a copyright

The difference between medicare and medicaid is
a) medicare is for older, retired people
b) medicare is for homeless people
c) congress decides who is eligible for medicare
d) none of these

What is a manufacturer’s goal when using specialization?
a) multitasking employees
b) cheaper labor
c) production of a single product
d) increased productivity

FEMA is a government program that is designed....
a) to help people that had a house fire
b) to help large numbers of people effected by natural disasters like hurricanes and tornadoes.
c) to help feed the homeless
d) to fix the highways and freeways in the US

When a disabled person applies for a job they are protected by
a) AAA
b) FICA
c) EEOC
d) none of these

Each of the following is a form of protectionism EXCEPT ____.
a) trade agreements
b) tariffs
c) quotas
d) embargos

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