Free practice test

Economics Professor Practice Test

Check what you know about the economics professor job with 15 free questions and instant explanations.

Updated By the Career Education Institute Curriculum Team
About this practice test

15 multiple-choice questions on economics professor knowledge, safety and vocabulary. Submit to see your score and explanations, or open any question’s answer as you go. Nothing is saved or shared.

Question 1 of 15Elasticity measures:
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Answer: Responsiveness to price. Sensitivity.

Question 2 of 15GDP measures:
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Answer: Economic output. Output.

Question 3 of 15Opportunity cost is:
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Answer: What you give up. Trade-off.

Question 4 of 15Correlation proves:
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Answer: Not necessarily causation. Caution.

Question 5 of 15Monetary policy is run by:
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Answer: Central banks. The Fed.

Question 6 of 15Which term matches this definition: “Part-time instructor.”
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Answer: Adjunct. Adjunct: Part-time instructor.

Question 7 of 15What does “Monetary policy” mean?
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Answer: Central bank actions.. Monetary policy: Central bank actions.

Question 8 of 15Which term matches this definition: “Permanent faculty status.”
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Answer: Tenure. Tenure: Permanent faculty status.

Question 9 of 15What does “Regression” mean?
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Answer: Statistical relationship.. Regression: Statistical relationship.

Question 10 of 15Which term matches this definition: “What you give up.”
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Answer: Opportunity cost. Opportunity cost: What you give up.

Question 11 of 15What does “Syllabus” mean?
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Answer: Course plan.. Syllabus: Course plan.

Question 12 of 15Which term matches this definition: “Government spending and taxes.”
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Answer: Fiscal policy. Fiscal policy: Government spending and taxes.

Question 13 of 15What does “Supply and demand” mean?
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Answer: How markets set prices.. Supply and demand: How markets set prices.

Question 14 of 15Which term matches this definition: “Expert review of research.”
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Answer: Peer review. Peer review: Expert review of research.

Question 15 of 15What does “Elasticity” mean?
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Answer: Responsiveness to price.. Elasticity: Responsiveness to price.

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