Cumulative Exam — Cumulative exam

Question 1

An income is measured as

Revolt · Accepted Answer

an amount received in a specific period: weekly, biweekly, or yearly.

Question 2

Which option for college funding can parents start when children are still very young?

Revolt · Accepted Answer

college savings account

Question 3

Demand-pull inflation occurs when

Revolt · Accepted Answer

consumers begin purchasing more goods.

Question 4

Which expenditure will be the same whether you lease or buy a new vehicle?

Revolt · Accepted Answer

gas cost

Question 5

The following chart shows a store’s records of sales of stuffed toys for two months. Which of the following are accurate assessments of trends displayed in this graph? I. The market share held by cats increased by about 6.5 percentage points. II. Roughly 22.2% more stuffed toys in the “other” category were sold in October than in September. III. The total number of stuffed toys sold increased by about 2%. a. I and II b. II only c. I and III d. I, II, and III Please select the best answer from the choices provided

Revolt · Accepted Answer

A

Question 6

Which best describes one of the primary aims of government fiscal policy?

Revolt · Accepted Answer

to put more money into citizens’ hands

Question 7

The table below shows the earnings, in thousands of dollars, for three different commissioned employees. $2,000 + 3% on all sales7% on all sales5% on the first $40,000 + 8% on anything over $40,000December4.45.65.2January3.53.853.6February4.74.94.4Who had the largest dollar amount in sales for the month of January?a.The salary plus commission employee.b.The straight commission employee.c.The graduated commission employee.d.They each had the same dollar amount in sales.

Revolt · Accepted Answer

C

Question 8

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

Revolt · Accepted Answer

high inflation

Question 9

What must people taking out a mortgage agree to? Check all that apply.a loan amountplans for repairsan interest raterenovation ideaspayment terms

Revolt · Accepted Answer

a loan amount; an interest rate; payment terms

Question 10

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

Revolt · Accepted Answer

as needed

Cumulative Exam — Cumulative exam Answers

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