AnswersPISD-Economics CR 2024Cumulative Exam

Cumulative Exam — Cumulative exam Answers

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21
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If a computer costs $600.00 and the sales tax rate is 7.5 percent, what is the total cost of the computer?

A
$607.50
B
$615.00
C
$622.50
D
$645.00
22
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Which of these is not a main advantage for a business joining a cooperative?

A
Lower costs for purchasing supplies
B
Pooling products for better selling prices
C
Sharing costs for needed services
D
Having a larger vote than smaller companies
23

What is the role of the three questions of economics?

A
to assess product profitability
B
to aid in production decisions
C
to offset a poor economy
D
to determine quality and cost
24

What is one way that technology can improve the production of goods?

A
Websites can allow consumers to purchase goods online.
B
Container ships can transport a number of goods at once.
C
Automation can create goods more cheaply and easily.
D
Airlines can send goods from one place to another.
25

Which best describes how advertising influences consumer choice in an oligopoly?

A
Advertising coaxes people to buy new products.
B
Advertising alerts consumers to price reductions.
C
Advertising undermines competition.
D
Advertising informs brand knowledge.
26

The chart shows pricing and payment options for two big-ticket items.

Question illustration
A
rent-to-own; installment
B
installment; rent-to-own
C
rent-to-own; rent-to-own
D
save up and pay cash
27

A regulatory agency that attempts to limit risk in the banking system is

A
the FDA.
B
the EPA.
C
the OCC.
D
the HHS.
28

Which best describes why a company issues stocks?

A
to increase the company’s value
B
to ensure profits
C
to increase dividends
D
to raise capital
29

The graph below shows the value of the US dollar versus the Canadian dollar.

Question illustration
A
October 2012.
B
November 2012.
C
February 2013.
D
March 2013.
30

Which economic indicators are used to measure the global economy? Choose four answers.purchasing power paritytrade volumesspending power paritylabor market datagross domestic producttrade deficits and surpluses

A
purchasing power parity
B
trade volumes
C
spending power parity
D
labor market data
E
gross domestic product
F
trade deficits and surpluses
31

Who was Adam Smith?

A
He was a philosopher who promoted the idea of free enterprise.
B
He was an economist who spoke against the market economy.
C
He was an official who ran an important government agency.
D
He was a producer who operated a factory in Scotland.
32

In which situation would a savings account be the best investment to earn interest?

A
when you need to make frequent payments for bills
B
when you have to pay monthly installments for a loan
C
when you need immediate access to cash
D
when you want to buy a new car in 3 years
33

The graph shows a demand curve with the price of a good compared to the quantity demanded.What does this graph demonstrate?

Question illustration
A
the amount of microwaves produced increases the price
B
the amount of microwaves produced decreases the price
C
the price decreases with a larger quantity demanded
D
the price increases with a larger quantity demanded
34

W-2 formW-4 form1040 formtax return

A
W-2 form
B
W-4 form
C
1040 form
D
tax return
35

In a competitive market, a computer store offers customers a warranty to help pay for any future damages. This is an example of

A
following a federal regulation.
B
lowering prices for customers.
C
reducing the risk for consumers.
D
creating a new or better product.
36

Which situations are examples of how credit scores determine nonfinancial opportunities for consumers? Check all that apply.an employer determining whether a job candidate is smartan employer hiring someone to handle financial informationan apartment owner gauging whether a tenant might break the rulesan apartment owner determining whether to rent a unit to someonea car insurance company setting rates based on where someone livesa car insurance company predicting the likelihood of future claims

A
an employer determining whether a job candidate is smart
B
an employer hiring someone to handle financial information
C
an apartment owner gauging whether a tenant might break the rules
D
an apartment owner determining whether to rent a unit to someone
E
a car insurance company setting rates based on where someone lives
F
a car insurance company predicting the likelihood of future claims
37

What is a way victims of identity theft in Florida can track activity on their credit report?

A
by giving lenders permission to access credit history
B
by canceling all of their credit and bank cards
C
by contacting their lenders on a daily basis
D
by placing a security freeze on their reports
38

When the government injects money into the economy, consumers may have more disposable income, which may lead to

A
higher unemployment.
B
higher production.
C
lower production.
D
increases in taxes.
39

If Country A is an agricultural country and Country B has many cities and factories, it would make sense for

A
both countries to set up car manufacturing plants.
B
Country A to specialize in growing corn while Country B specializes in making cars.
C
Country A to specialize in making cars while Country B specializes in growing corn.
D
both countries to compete in growing more corn.
40

Corporate taxes are a type of

A
income tax.
B
property tax.
C
sales tax.
D
excise tax.

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