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Schumacher Economics Test 2 Test

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5 Written Questions

5 Matching Questions

  1. negative externality
  2. Steve Jobs
  3. traditional economy
  4. check kiting
  5. Tim Ryan
  1. a who is the Chancellor of UNO and used to be on the Ben Franklin Board A2E2?
  2. b an economic system in which the answers to the three economic questions are based on customs, traditions, and cultural beliefs
  3. c writing yourself a check from one account to the other
  4. d who is the head of Apple?
  5. e an adverse side effect of an act that is felt by others

5 Multiple Choice Questions

  1. who is the mayoral candidate that is a millionaire and owns LUCKYCOIN (distributer of pinball/gambling machines)
  2. a sense of how the world works
  3. a government program specifying economic activities
  4. an economic system in which individuals (not government) own most, if not all, the resources and control their use
  5. Performance Review Commitee

5 True/False Questions

  1. nonexcludable public gooda public good that individuals can be excluded (physically prohibited) from consuming


  2. ICBMwhat is the name of the new product Apple just released?


  3. losswhat is the name of the new product Apple just released?


  4. positive externalitya beneficial side effect of an action that is felt by others


  5. NAFTANorth American Free Trade Agreement


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