AnswersFL-2106010-MJ Civics B-CRUnit Test

Unit Test — Cumulative exam Answers

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1
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Which describes a country with a single-resource economy?

A
It has a large budget for social programs that help its citizens.
B
It relies on one natural resource that it sells to other countries.
C
It sells several products to countries that are in need.
D
It buys a variety of products from one specific country.
2
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Barack Obama was the first candidate to fully use social media during his run for the presidency. It allowed him to reach the public in a more direct way. Why would this be helpful to candidates?

A
It would prevent mass media from fulfilling the role of watchdog.
B
It would help candidates avoid the gatekeeping function in mass media.
C
It would prevent the media from selecting stories and setting political agendas.
D
It would help candidates block reporters from criticizing their campaigns.
3

Review the photograph.

Question illustration
A
The governors of the impacted states would provide funds from their state budgets.
B
The president would tell the US Treasury to send money to the area affected by the flood.
C
Congress would approve a large sum of money in discretionary spending for various recovery efforts.
D
Mandatory spending for existing programs would be redirected to help individuals and businesses.
4

What is the definition of productivity?

A
the method used to produce something
B
the dollar cost of consuming something
C
the rate at which something is produced
D
the rate at which something is consumed
5

Read what President Bill Clinton said about interest rates in his 1996 State of the Union address."Lower interest rates have made it easier for businesses to borrow and to invest and to create new jobs. Lower interest rates have brought down the cost of home mortgages, car payments, and credit card rates to ordinary citizens.”—President Bill Clinton, January 23, 1996

A
Lower interest rates lead to higher prices for goods.
B
Lower interest rates do not help the economy improve.
C
Lower interest rates lead to more spending and more jobs.
D
Lower interest rates are better for businesses than for citizens.
6

How do economists use the GDP per capita rate?

A
They compare individual wealth in different countries.
B
They compare the standard of living in different countries.
C
They contrast the unemployment rate in different countries.
D
They contrast the productivity rate in different countries.
7

Which is a barrier to international trade?

A
bad weather
B
natural disasters
C
high prices for locally produced products
D
the vast distance between some countries
8

One source of federal tax revenue is fees. The government charges fees for specific services it provides. What is an example of this kind of fee?

A
Esteban noticed that, after he got a raise, more money was taken out of his paycheck.
B
Sanjay and his family had to pay to use a camping spot at Yellowstone National Park.
C
Flora was surprised when the price of a pair of headphones produced in China increased.
D
Makayla’s new dog-walking business required a large sum in payroll taxes for her employees.
9

What opportunity is provided by the "trial-and-error” quality of entrepreneurship?

A
the opportunity to avoid making mistakes
B
the opportunity to grow and learn things
C
the opportunity to know when to give up
D
the opportunity to raise money for funding
10

What is the relationship between GDP and unemployment?

A
When GDP rises, unemployment usually rises.
B
When GDP drops, unemployment usually drops.
C
When GDP drops, unemployment usually stays the same.
D
When GDP rises, unemployment usually drops.
11

A hardware store has a big sale on paint. During the sale, the demand for paintbrushes, paint rollers, and painter’s tape sharply increases. Which factor explains this rise in demand?

A
substitute goods
B
complementary goods
C
competition
D
price
12

When does a monopoly occur?

A
when there is only one company that provides a product or service
B
when companies that provide the same products are decentralized
C
when one company charges very low prices for a product or service
D
when companies producing the same product get together to set prices
13

The town of Jensen Valley is deciding what to do with an empty lot it owns. There are no parks in this community, so some residents want to build a small park for the local children. Others want to build an arts center that will provide classes and activities for residents. As a final step, the Jensen Valley officials need to look at the opportunity costs of their decision beyond the money that will be spent.

A
If the art center is chosen, children in the community will not have a public outdoor play area.
B
If the art center is chosen, many people may come to the community to see the art exhibits.
C
If the small park is chosen, the Jensen Valley officials can refer to its success in their reelection campaigns.
D
If the small park is chosen, Jensen Valley will need to hire custodians to keep the park clean.
14

Review this social media post.

Question illustration
A
It was staged by the user Happy Traveler.
B
It was posted by a troll to spread misinformation.
C
It was put together from several different images.
D
It was actually taken during a couple’s vacation.
15

Which economic system is most likely to have a single communist political party?

A
traditional economy
B
market economy
C
command economy
D
mixed-market economy
16

Which example shows why producers cannot always control the number of goods they supply?

A
Company A decides to offer a wider range of skateboards, so it increases production and raises some prices.
B
Company B decides to increase production of its new product and raises the price because the product is selling so well.
C
Company C is having trouble hiring enough workers to keep its production lines operating at the normal level.
D
Company D would like to introduce a new product, so it conducts research to determine the best price and the quantities to produce.
17

When Joe Biden accepted the Democratic Party’s nomination to run as their candidate for president in 2020, he said the following:One of the most powerful voices we hear in the country today is from our young people. They're speaking to the inequity and injustice that has grown up in America. Economic injustice. Racial injustice. Environmental injustice.I hear their voices and if you listen, you can hear them too. —Joe Biden, nomination speech at the Democratic Nation Convention, August 20, 2020

A
They have economic influence.
B
They have grown up in America.
C
They protest against injustice.
D
They are a significant voting group.
18

What is one of the benefits of trade policies that eliminate barriers in international trade?

A
More international trade translates to higher wages for all workers in the United States.
B
There are more goods and services available, and this competition drives down prices.
C
Sales of US products increase due to fewer foreign products in the marketplace.
D
Working conditions improve for employees in each of the trading partner countries.
19

Which is the best definition of international trade?

A
the number of types of currencies you can find in the world
B
the act of leaving one country and going to another country
C
the buying and selling of goods between different countries
D
the number of nationalities in a person’s family background
20

What is the best definition of an interest rate?

A
the money that a bank pays as interest to depositors on their savings accounts
B
the percentage that compares a bank’s deposits to its loans in a given period of time
C
the total amount that a bank branch can provide to borrowers as a business or personal loan
D
the percentage that compares the amount of interest paid to a bank to the amount given as a loan

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