Globalization — Cumulative exam Answers
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Aggregate supply is best described as the
A
total output of all products and services.B
point of equilibrium.C
nation’s real gross national product.D
excess supply in the market.42
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Which of these practices describe how producers in oligopolies generally try to create competition? Check all that apply.
A
by keeping prices lowB
by offering promotionsC
by advertisingD
by cultivating brand loyaltyE
by overcoming barriers to entryF
by developing a specific image43
How do trade agreements help the countries involved?
A
by restricting importsB
by accelerating productionC
by expanding tax revenuesD
by decreasing trade barriers44
The law of supply states that as the price of a good declines, the quantity supplied of that good
A
remains the same.B
decreases.C
increases.D
disappears.45
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.46
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.47
What is true of the M1 category of money?
A
It is not usually in circulation.B
It cannot be quickly exchanged.C
It can be easily liquidated.D
It is in investment accounts.48
Look at the following chart.
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.49
Which occurs during disequilibrium? Check all that apply.
A
Supply and demand meet.B
Supply is less than demand.C
Supply and demand set prices.D
Supply is greater than demand.E
Supply and demand set production.50
An interest in supervising other workers would be useful for someone who wanted to become
A
an office manager or warehouse manager.B
a freelance writer or graphic designer.C
a grocery clerk or supermarket cashier.D
a letter carrier or delivery person.Did you find these answers helpful?
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