Econ Review Quiz
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1.
Compound interest is related to the concept of the time value of money.
True
False
2.
A definition of inflation is…
A. when the price of goods and services increase
B. when the price of goods increase
C. when meat prices increase
D. when beef prices increase
3.
Insurance policies can NOT pay for:
A. deflation
B. property damage
C. injury
D. loss of life
4.
The job of the Federal Reserve is to:
A. regulate the money supply
B. oversee the nation's banks
C. serve as the bank for the U.S. government
D. all of the above
5.
Stocks can sometimes pay:
A. liabilities
B. dividends
C. reserve requirements
D. discount rates
6.
Which one is NOT a type of economy?
A. command
B. production
C. traditional
D. market
7.
A person's human capital includes:
A. their health and values
B. their education and training
C. their experience and skills
D. all of the above
8.
The Gross Domestic Product increases during a recession.
True
False
9.
Fiscal policy is related to:
A. collateral
B. credit reports
C. insurance
D. income taxes
10.
The letters in FDIC stand for:
A. Federal Deputy of Industrial Companies
B. Federal Deposit Insurance Corporation
C. Federal Discount on Income Capital
D. none of the above
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