Question

Part two of 4.07

Answer 1

In the diagram above, what will happen if the government sets the minimum wage at Point B?

There will be a shortage of workers. <----

There will be a surplus of workers.

The minimum wage will rise to meet equilibrium.

The minimum wage will fall to meet equilibrium.

Points earned on this question: 5

Question 9 (Worth 5 points)

[04.04 MC]

Lowering the discount rate can promote full employment because

employees are more likely to apply for multiple jobs

employees are able to get better offers for hourly wages

companies are more likely to expand and hire more workers <-----

companies are less likely to sign up employees for unemployment insurance

Points earned on this question: 5

Question 10 (Worth 5 points)

[04.03 MC]

How do member banks of the Federal Reserve differ from other depository institutions?

They participate in the Federal Open Market Committee. <-----

They receive services from the regional Federal Reserve Bank.

They are stockholders in their regional Federal Reserve Bank.

They are subject to the banking regulations issued by the Federal Reserve.

Points earned on this question: 0

Question 11 (Worth 5 points)

[04.01 MC]

Which of the following circumstances usually comes before a period of economic contraction?

Decreasing inflation

High unemployment

Low GDP

Peak production <-----


For number 10 I don't know the correct answer if anyone does please post it :)

Points earned on this question: 5

Answer 2

The accumulation of years of spending more money than is collected in revenues over several years creates a budget -> it's Debt.
I was forced to rush after I started taking this test so I didn't get to read the question/ answer choices carefully.

Answer 3

for question 15: Use this image to answer the following question. When the economy is operating at point C, the U.S. Congress is most likely to follow

expansionary fiscal policy <-----

contractionary fiscal policy

expansionary monetary policy

contractionary monetary policy

Points earned on this question: 5

Answer 4

During a cold winter, there is a natural-gas shortage. The government sets a price ceiling on natural gas so that people can continue to afford heating. If the price ceiling remains in effect, what will happen?

Quantity demanded will exceed the quantity supplied. <-----

Quantity demanded will equal the quantity supplied.

Quantity demanded and supplied will reach price equilibrium.

Quantity demanded will be lower than the quantity supplied.

Points earned on this question: 5

Answer 5

Which of these could result from decreased federal spending?

Advances in the space program

Fewer social programs <-----

Increased national debt

More government regulation

Points earned on this question: 5