Economic Unit 5 Review

The most important characteristic of money is

• durability
• scarcity
• acceptability
• divisibility

The most important shifter in determining wages in a specific labor market is

• location.
• who you know.
• human capital.
• how long you have worked.

Labor unions want to create a/an ___________ market for labor.

• monopolistic competive
• perfectly competive
• oligopoly
• monopoly

Which of the 4 C's of credit deal with a person's financial history?

• Capacity
• Character
• Collateral
• Capital

All of the following are low risk investments EXCEPT

• savings bonds.
• municipal bonds.
• treasury bonds
• junk bonds.

Jen has a great credit score, this means her __ is good and will be charge a __ IR on her loan.

• character; low
• character; high
• capacity; low
• capacity; high

The price of apples change from $1/lb to $1.50/lb, _______ will increase.

• quantity supplied
• supply
• quantity demanded
• demand

In monopolistic competition there are many buyers and sellers

• True
• False

Economists describe unintended consequences as externalities

• True
• False

Public utilities are an example of a _______________ monopoly.

• technological
• natural
• government
• geographic