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Medical Questions
Your Question
Current Location Top of page Take Test: Unit III AssessmentContent
Instructions
Name Unit III Assessment
Instructions
Multiple Attempts Not allowed. This Test can only be taken once.
Force Completion This Test can be saved and resumed later.
Test/Survey Status
Question Completion Status:
1 2 3 4 5 6 7 8 9 10
Saving Answer
Question 1
Question 1
A depression can be defined as a:
Answer
mild reduction in total production coupled with a rising unemployment rate that lasts for several years.
decline in total production that lasts less than six months.
severe fall in stock prices that causes financial panic and lasts several years.
severe reduction in total production coupled with high unemployment that lasts several years.
decline in government spending and taxes that lasts for several months.
5 points
Question 2
Question 2
Which of the following would indicate the beginnings of an expansion of the economy?
Answer
Fewer new firms are started
Stock market prices decline
Consumer confidence improves
Housing construction slows
Orders for new equipment decreases
5 points
Question 3
Question 3
Which of the following is the resource whose quality is most often enhanced by technological change?
Answer
Capital
Land
Labor
Entrepreneurship
Credit
5 points
Question 4
Question 4
Click the point of an economic contraction on the given business cycle graph.
Answer
Selected Coordinates
Clear Click Clear to remove the hot spot selection.
5 points
Question 5
Question 5
Click the point in which the economy is experiencing a decrease in output and higher unemployment.
Answer
Selected Coordinates
Clear Click Clear to remove the hot spot selection.
5 points
Question 6
Question 6
Consider the graph above. What is the total output for this economy?
Answer
10,000,000,000
12,400,000,000
8,000,000,000
20,400,000,000
4,400,000,000
5 points
Question 7
Question 7
Consider the graph above. What actions can cause the AS curve to shift to the right?
Answer
An increase in the federal budget deficit
A decline in employment
An increase in penalties for production-related pollution
A decrease in production incentives
A decrease in taxes
5 points
Question 8
Question 8
SHORT ANSWER: Inflation, stagflation, recession, depression, expansion, and contraction are commonly used terms in economics and the media. What do these terms mean? In your explanation, discuss how some of these terms are related?
Answer
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15 points
Question 9
Question 9
SHORT ANSWER: What is Gross Domestic Product, and why is it important for national economies?
Answer
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15 points
Question 10
Question 10
ESSAY: Discuss the importance of productivity in an economy. In your discussion, explain how education, research and development, and technology affect productivity.
Answer
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35 points
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