AnswersDRHS GA-GSE Personal Finance and EconomicsCumulative Exam

Cumulative Exam — Cumulative exam Answers

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21
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If expansionary taxation policies are left unchecked, which is the most likely result?

A
reduced profits
B
high inflation
C
reduced production
D
reduced disposable income
22
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To create the proper style for an argumentative essay, a writer should

A
add personal statements.
B
include vague language.
C
incorporate slang words.
D
provide clear statements.
23

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.
24

Demand-pull inflation occurs when

A
the price of goods rises suddenly and extremely fast.
B
consumers begin purchasing more goods.
C
producers need more money to make and distribute goods.
D
the government prints more money and pushes prices up.
25

When it spends money on education, a government is trying to

A
find a way to meet a social need.
B
encourage immediate economic growth.
C
meet a social need and improve the economy.
D
find a way to spend budget surpluses.
26

The chart shows pricing and payment options for two large items.

Question illustration
A
to pay the lowest possible price
B
to take advantage of low interest
C
to spread payments out over time
D
to avoid saving for a down payment
27

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
28

One common advantage of a long-term investment is

A
higher return.
B
no risk.
C
higher liquidity.
D
no liquidity.
29

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
30

Look at the following chart.

Question illustration
A
analyzing the climate to see which fruit would grow better.
B
studying the profitability of growing apples versus oranges.
C
researching what competitors are doing.
D
choosing to grow both fruit varieties or only apples.
31

Daryl would like to open new checking and savings accounts. He wants to join an institution that is not focused on making a profit. Which type of banking institution is most suitable for Daryl?

A
a retail bank
B
a commercial bank
C
a savings and loan
D
a credit union
32

Economists can use new technology to

A
study data and patterns.
B
create and apply automation.
C
improve production and shipping.
D
increase demand and consumption.
33

Corporate taxes are a type of

A
income tax.
B
property tax.
C
sales tax.
D
excise tax.
34

The graph shows the market for graphic T-shirts.

Question illustration
A
As the amount of a product goes up, the price goes up.
B
As the amount of a product goes down, the price goes up.
C
As the interest in a product goes up, the price goes up.
D
As the interest in a product goes down, the price goes up.
35

What is the best definition of profit?

A
Profit is the possible income from producing an additional item.
B
Profit is the price of producing one additional unit of a good.
C
Profit is the additional income gained from selling an additional good.
D
Profit is the financial gain from business activity minus expenses.
36

W-2 formW-4 form1040 formtax return

A
W-2 form
B
W-4 form
C
1040 form
D
tax return
37

Which are affected by the factors of production? Choose three answers.the demand of the itemthe availability of the itemthe cost of the itemthe quality of the itemthe popularity of the item

A
the demand of the item
B
the availability of the item
C
the cost of the item
D
the quality of the item
E
the popularity of the item
38

Businesses can use globalization to their advantage by

A
creating trade barriers to other countries.
B
reducing exports to other countries.
C
finding customers in other countries.
D
insourcing jobs in other countries.
39

The Fed may respond to a recession by

A
discouraging consumer borrowing.
B
decreasing interest rates.
C
decreasing government spending.
D
decreasing available credit.
40

In a free market system, price control can include both a floor and a .

Answer not available

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