Charkins Econ 311 Final

Front 1

Alejandra can't decide whether to work, study, or hang our with Richard. In this decision, how many choices does she have?

Back 1

1

Front 2

In Tops and Bottoms, Hare has lost all of his land to a:

Back 2

Tortoise

Front 3

In a decision, how many opportunity cost(s) is/are there?

Back 3

1

Front 4

The Romans were most interested in Egypt for:

Back 4

Grain/wheat

Front 5

Which of the following was ancient Egypt's major port?

Back 5

Alexandria

Front 6

From what ancient civilization did the cedars come that were used in King Solomon's temple?

Back 6

Phoenecia

Front 7

What was Phoenicia's most famous colony?

Back 7

Carthage

Front 8

If you were travelling from China towards the West on the Silk Road, in what order would you reach the modern countries listed below? Afghanistan,India, Iran, Iraq, Pakistan, Turkey

Back 8

India, Pakistan, Afghanistan, Iran, Iraq, Turkey

Front 9

Which of the following is the eastern most sea?

Back 9

The Black Sea

Front 10

The Greeks fought the Trojans for access to the:

Back 10

Black Sea

Front 11

Ancient Sumer lies in what current nation's territory?

Back 11

Iraq

Front 12

Which group invented writing and the wheel?

Back 12

Sumerians

Front 13

Which of the following measures the relationship between supply and demand for one product compared to the relationship of supply and demand for all other products?

Back 13

relative scarcity

Front 14

If only five units of a product exist, it can be said that the product is:

Back 14

Rare

Front 15

Sellers competing against sellers drives the price _______ and buyers competing against buyers drives the price _________.

Back 15

down, up

Front 16

Which of the following is a condition for efficient markets?

Back 16

Rules of Law

Front 17

Competition among buyers tends to

Back 17

Drive the price up

Front 18

Specialization in production creates wealth because

Back 18

All of the above

Front 19

Voluntary exchange creates wealth because:

Back 19

Both b and c

Front 20

Which one of the following books illustrates the fact that voluntary exchange creates wealth?

Back 20

Mama Provi's Pot of Rice

Front 21

What happened to the cotton market in London during the American Civil War as a result of the North's successful blockade of Southern Ports?

Back 21

Supply fell, prices rose

Front 22

If you see that the price of gasoline has decreased, you know for certain that

Back 22

supply has increased or demand has decreased

Front 23

If people are out of work and have lower incomes, what will happen to the price of most products including homes?

Back 23

Demand will decrease, price will fall

Front 24

What effect will the upcoming El Nino (savage rain and snow storms) predicted for Winter 2015 have on the market for umbrellas in the U.S.?

Back 24

Upward pressure on price and quantity

Front 25

What effect has the discovery of new oil reserves in North Dakota had on the U.S. oil market in 2015?

Back 25

Price has decreased, quantity has increased.

Front 26

What city did the Turks close to European trade when they conquered it in 1452?

Back 26

Byzantium / Constantinople

Front 27

Who was the first European to sail to India?

Back 27

De Gama

Front 28

Who was the first European whose crew circumnavigated the globe?

Back 28

Magellan

Front 29

The result on the European Spice Market of the early sixteenth century of Vasco da Gama's successful voyage was a(n):

Back 29

Increase in supply

Front 30

Who drove the Muslims from their last stronghold in Spain?

Back 30

Isabella

Front 31

Last stronghold of Muslims in Spain?

Back 31

Granada

Front 32

Who traveled from Europe to the court of the Mongol Emperor in the 13th century

Back 32

Marco Polo

Front 33

Which is the Southernmost cape in Africa?

Back 33

Agulhas

Front 34

The major purpose of money is to

Back 34

facilitate exchange by reducing transactions costs