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Economics Unit Exams 1-5 Primavera (Latest) Questions With Complete Solutions!!
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Economics Unit Exams 1-5 Primavera (Latest) Questions With Complete Solutions!!
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Name: Score:152 Multiple choice questions
Term 1 of 152
What are consequences of a weak dollar?
(Select all that apply.)
unemployment in import industries
increase in the cost of imports
unemployment in export industries
increase in the cost of exports
You may run low on available money to spend.
Your ability to save and invest for the future may be negatively affected.
PARTIAL .67%
Expenditures include police and fire departments.
Large portions of local budgets support elementary education.
PARTIAL .25%
increase in the cost of imports
unemployment in export industries
It enters US currency into circulation.
It offers financial services within the government.
,Term 2 of 152
What are functions of the Federal Reserve?
(Select all that apply.)
It creates US coins.
It enters US currency into circulation.
It prints US dollars.
It offers financial services within the government.
costs that do not change based on production
It enters US currency into circulation.
It offers financial services within the government.
PARTIAL .67%
enable people to earn a profit storing money
enable people to store money in a safe place
withdraw some cash
make purchases
check his balance
,Term 3 of 152
What are possible consequences for not monitoring your budget?
(Select all that apply.)
You may run low on available money to spend.
Your 401(k) account will have plenty of money for retirement.
Your ability to save and invest for the future may be negatively affected.
You will be able to pay for any unexpected expenses that arise.
You may run low on available money to spend.
Your ability to save and invest for the future may be negatively affected.
It helps to prevent monopolies.
It helps to ensure that prices are fair.
It enforces laws against false advertising.
PARTIAL .25%
increase in the cost of imports
unemployment in export industries
PARTIAL .67%
Expenditures include police and fire departments.
Large portions of local budgets support elementary education.
, Term 4 of 152
How do government benefit payments, such as social security and veteran benefits, help the
economy?
(Select all that apply.)
They offer a safety net for people who may be struggling for some reason.
They are a source of revenue that people use to consume goods and services.
They provide individuals with the opportunity to further their education.
They prevent inflation because the payments are modest in amount.
NOT 100% SURE, 2ND ANSWER IS WRONG THOUGH
While GNP includes production by all people and businesses of a country, GDP only
includes production within a country's borders.
PARTIAL .67%
They offer a safety net for people who may be struggling for some reason.
They are a source of revenue that people use to consume goods and services.
PARTIAL .67%
It implements American monetary policy.
It regulates banks and defends consumer credit rights.
Consumers often buy products without taking sufficient time to investigate them.
Businesses may sell dangerous items to consumers in order to make a profit.
Consumers may lack the level of knowledge to assess a threat on their own.
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