WGU; D089; Objective; Assessment; (Latest; 2025/; 2026; Update); Principles; of; Economics; Guide|; Q/A; |; Grade; A|; 100%; Correct; (Verified; Answers)
Q:; A; treaty; between; two; or; more; nations; setting; rules; for; trade.
Answer:
Trade; agreement
Q:; The; U.S.; imposes; a; charges; of; $5; on; each; gallon; of; maple; syrup; imported.; What; type; of; tariff; is; this?
Answer:
Specific
Q:; The; U.S.; imposed; a; charge; of; 2%; on; each; gallon; of; maple; syrup; imported.; What; type; of; tariff; is; this?
Answer:
Ad; Valorem
Q:; To; limit; imports,; the; US; imposes; a; tariff; consisting; of; both; a; $3; fee; and; a; 2%; charge.; What; is; this; type; of; tariff; called?
Answer:
Compound
Q:; Medium; of; Exchange
Answer: 1 / 4
Money; is; used; as; a; method; of; payment; for; goods; and; services.
Q:; Store; of; value
Answer:
People; use; money; to; preserve; purchasing; power; from; the; present; to; the; future.
Q:; Unit; of; account
Answer:
Money; is; used; to; measure; and; compare; the; values; of; goods; and; services.
Q:; Standard; of; deferred; payment
Answer:
Loans; and; future; agreements; are; stated; in; monetary; terms.
Q:; List; the; characteristics; of; successful; currencies.
Answer:
Durable,; divisible,; portable,; and; resistant; to; counterfeiting
Q:; An; item; that; is; used; as; money; but; has; value; in; a; different; use.; Eg/; Gold
Answer:
Commodity; money
Q:; Money; that; is; declared; by; the; government; to; be; legal; tender
Answer:
Fiat; Money 2 / 4
Q:; Currency; +; Checkable; Deposits; +; Traveler's; Checks
Answer:
M1
Q:; M1; +; Savings; +; Money; market; funds
Answer:
M2
Q:; The; central; bank; in; the; United; States
Answer:
Federal; Reserve
Q:; What; are; the; responsibilities; of; the; FED?
Answer:
Conducting; monetary; policy,; regulating; financial; institutions,; providing; banking; services; to; depository; institutions,; and; promoting; financial; stability.
Q:; fractional; reserve; banking; system
Answer:
banks; keep; a; fraction; of; deposits; as; reserves; and; use; the; rest; to; make; loans
Q:; Who; controls; monetary; policy; at; the; Fed?
Answer:
Federal; Open; Market; Committee; (FOMC) 3 / 4
Q:; What; function; of; money; is; this?; Buying; a; car; with; cash.
Answer:
Medium; of; Exchange
Q:; What; function; of; money; is; this?; Comparing; car; prices.
Answer:
Unit; of; Account
Q:; What; function; of; money; is; this?; Savings; for; a; car.
Answer:
Store; of; Value
Q:; What; function; of; money; is; this?; Borrowing; to; purchase; a; car.
Answer:
Standard; of; deferred; payment
Q:; In; the; U.S.,; who; is; responsible; for; fiscal; policy?
Answer:
Congress; and; the; president
Q:; The; use; of; government; spending; and; taxes; to; stabilize; the; economy.
Answer:
Fiscal; policy
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