Answers2526 Full 2102320 Economics HONORS NEW CREDITCumulative Exam

Cumulative Exam — Cumulative exam Answers

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21
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The factors of production include the number of

A
customers needed to make a profit on a good.
B
consumers who show an interest in a good.
C
employees needed to manufacture a good.
D
producers who supply the same good.
22
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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.
23

Embargoes, quotas, and standards are tools that countries use

A
to reduce exports.
B
to punish other countries.
C
to restrict imports.
D
to raise prices of domestic goods.
24

The graph shows a point of equilibrium.What is the price at which equilibrium is achieved?

Question illustration
A
$8
B
$9
C
$10
D
$30
25

Jacob is considering buying a new car. Which nonrenewable resource should influence the decision?

A
labor
B
water
C
minerals
D
petroleum
26

The Fed may respond to a recession by

A
discouraging consumer borrowing.
B
decreasing interest rates.
C
decreasing government spending.
D
decreasing available credit.
27

When does government regulate producers in a mixed-market economy?

A
always
B
as needed
C
as requested
D
never
28

An effective claim in an argumentative essay

A
tends to be nonspecific and undefined.
B
is an idea that anyone would support.
C
establishes a focus for the reader.
D
offers a very passionate viewpoint.
29

Savings should be treated as another type of

A
gross income.
B
net income.
C
tax.
D
expenditure.
30

Which best describes why governments enact tariffs?

A
to reduce the price of domestic products
B
to discourage consumers from purchasing foreign goods
C
to limit the sale of foreign goods
D
to ensure that domestic producers make a profit
31

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.
32

What new laws did the New York Factory Investigating Commission request? Check all that apply.no factory workers under age tenuse of central air-conditioning systemsa minimum wage for all workersincreased sanitation standardsfire alarms and sprinkler systems

A
no factory workers under age ten
B
use of central air-conditioning systems
C
a minimum wage for all workers
D
increased sanitation standards
E
fire alarms and sprinkler systems
33

Read the format of an outline for an informative essay.1. _____________________A. Thesis statement2. Subtopic body sentenceA. EvidenceB. Evidence3. Subtopic body sentenceA. EvidenceB. EvidenceWhich item would best fill in the blank space?

A
Evidence
B
Subtopic
C
Introduction
D
Conclusion
34

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.
35

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

Answer not available
36

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
37

Which type of credit is most likely to be unsecured?

A
auto loans
B
credit cards
C
mortgage loans
D
personal loans
38

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.
39

An extended recessionary period is indicative of

A
a depression.
B
the start of a recovery.
C
a growing economy.
D
the end of a recession.
40

Which are indicators that economists use to measure how an economy grows? Select two options.monitoring election resultsmeasuring how much the economy producesmonitoring the popularity of different music groupsstudying the economy of another countrytracking the unemployment rate

A
monitoring election results
B
measuring how much the economy produces
C
monitoring the popularity of different music groups
D
studying the economy of another country
E
tracking the unemployment rate

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