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PFL & Eco Final Exam Review Part #1

PFL & Eco Final Exam Review Part #1

Assessment

Flashcard

Social Studies

11th Grade

Practice Problem

Medium

Created by

Angela Pearson

Used 1+ times

FREE Resource

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50 questions

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1.

FLASHCARD QUESTION

Front

How will a $10 price increase of a popular perfume affect the quantity demanded and supplied?

Back

Supply will increase, and demand will decrease

2.

FLASHCARD QUESTION

Front

The price of airline flights increased recently due to an increase in the number of business travelers. What must be the case?

Back

Demand increased

3.

FLASHCARD QUESTION

Front

Equilibrium quantity and price from the graph.

Media Image

Back

175 bags and $0.60

4.

FLASHCARD QUESTION

Front

A surplus of 30 bags of chocolate covered peanuts exists if the price is _____ per bag.

Media Image

Back

$0.90

5.

FLASHCARD QUESTION

Front

What happens to the price of leftover Halloween candy when demand decreases after October 31st?

Back

It will decrease

6.

FLASHCARD QUESTION

Front

Income taxes are which type of tax?

Back

Progressive

7.

FLASHCARD QUESTION

Front

Which taxes are collected by state and local governments, but not by the federal government?

Back

Sales tax

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