Question

Ok so i have a ton of questions i need answered for this test im taking. its on economics. anyone think they can help? thank you. or message me 20 points
All of the following were powers given to the federal government by the National Banking Acts of 1863 and 1864 EXCEPT which one?
A. to charter banks
B. to require banks to hold adequate gold and silver reserves
C. to issue a single national currency
D. to dismantle privately owned banks


When economists measure opportunity cost to help determine the true value of economic decisions, they consider both the
A. environmental and human value.
B. monetary and resource value.
C. environmental and resource value.
D. monetary and human value.


Which of the following was NOT an economic institution created in Europe to help foster economic unity among the countries there?

A. European Coal and Steel Community (ECSC)
B. European Economic Exchange (EEE)
C. European Economic Community (EEC)
D. European Union (EU)


Though the challenges of decision making are similar at all levels of the economy,
A. individuals make more important decisions.
B. the impact decreases as more people are involved.
C. the impact increases as more people are involved.
D. businesses are the best at making economic decisions.


All EXCEPT which of the following options could describe the statement below?

You get something and you give up something else.
A. opportunity cost
B. consumer sovereignty
C. trade-off
D. exchange


Who proposed the first bank of the United States?
A. Andrew Jackson
B. Alexander Hamilton
C. Thomas Jefferson
D. James Madison



As an economic institution, nonprofit organizations include:
A. business associations
B. trade associations
C. corporations
D. professional organizations


In economics, economic institutions serve to
A. help establish and keep participation in the economy fluid.
B. collect all extra resources for redistribution.
C. detain individuals who do not voluntarily participate in economic exchange.
D. create various currencies when the supply runs low.

Who is credited with first using cost-benefit analysis?
A. Adam Smith
B. Jules Dupuit
C. Alfred Marshall
D. John Maynard Keynes

Answer 1

1. All of the following were powers given to the federal government by the National Banking Acts of 1863 and 1864 EXCEPT D. to dismantle privately owned banks 2. When economists measure opportunity cost to help determine the true value of economic decisions, they consider both the D. monetary and human value. 3. Which of the following was NOT an economic institution created in Europe to help foster economic unity among the countries there? D. European Union (EU) 4. Though the challenges of decision making are similar at all levels of the economy, B. the impact decreases as more people are involved. I think that the impact decreases as more people are involved because these people will be able to analyze many more aspects involving a decision as well as its corresponding consequences. The decision made will be a result of consensus among the people involved for the benefit of the majority if not all. 5. All EXCEPT which of the following options could describe the statement below? You get something and you give up something else. B. consumer sovereignty – This is a situation where the desire of the consumer affects the production of their desired goods. 6. Who proposed the first bank of the United States? B. Alexander Hamilton – He officially proposed the creation of the first bank during the first session of the First Congress. 7. As an economic institution, nonprofit organizations include D. professional organizations. The main purpose of these organizations is to make their profession better or more valuable for the people practicing the profession as well as for the benefit of the general public. 8. In economics, economic institutions serve to A. help establish and keep participation in the economy fluid. 9. Who is credited with first using cost-benefit analysis? B. Jules Dupuit – A French engineer and economist. He wrote an article in 1848 where the concept of Cost-Benefit analysis was presented.

Answer 2

No.4 above me is incorrect.