Practice Quiz

Praxis II: Economics Content Knowledge Exam Prep - Question List

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36. Which of the following is the study of how groups and people tend to behave in strategic situations?
  1. Monopolistic competition
  2. Game theory
  3. Collusion
  4. Perfect competition
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37. In a legislative meeting designed to investigate new standard of living changes, a number of politicians contemplating whether there should be an increase in minimum wages or a provision of small business tax cuts. This is an example of:
  1. Trickle down economics
  2. Positive economics
  3. Normative economics
  4. Negative economics
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38. In the case of a recession, which of the following might the Fed do to counter the financial situation?
  1. Increase taxes
  2. Decrease taxes
  3. Increase government spending
  4. Purchase bonds
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39. Sweden is considered to be a country with a low inflation rate, while the Congo has a high inflation rate. According to the quantity theory of money, describe the nature of the positive relationship between inflation and money supply growth for Sweden and the Congo, respectively.
  1. Strong; strong
  2. Strong; weak
  3. Weak; strong
  4. Weak; weak
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40. The mayor of Hiramville is looking at some startling statistics about his city. The labor force in Hiramville is 400,000 and there are currently 100,000 people who are unemployed. What is the unemployment rate, expressed as a percentage, in Hiramville?
  1. .25%
  2. 2.5%
  3. 25%
  4. 10%
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