AnswersKISD SS-3391B-Algebra II Honors B Exam OnlyCumulative Exam

Cumulative Exam — Cumulative exam Answers

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21
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Corporate taxes are a type of

A
income tax.
B
property tax.
C
sales tax.
D
excise tax.
22
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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.
23

What is one example of a closed economy?

A
a barter system that does not rely on money or other currency
B
a restricted system that blocks trade with international partners
C
a trade-based system that encourages the flow of goods and services
D
an old-fashioned system that preserves traditional choices and customs
24

In a competitive market, a computer store offers customers a warranty to help pay for any future damages. This is an example of

A
following a federal regulation.
B
lowering prices for customers.
C
reducing the risk for consumers.
D
creating a new or better product.
25

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.
26

Public property is land or goods

A
owned by an individual.
B
owned by the government.
C
used for private businesses.
D
used to gain personal wealth.
27

How does a socialist government with a command economy manage its economy?

A
The government lets producers set wages for workers.
B
The government owns all homes and other forms of housing.
C
The government allows consumers to make their own choices.
D
The government controls factories and other forms of production.
28

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.
29

worthlessplentifulelasticinelastic

A
worthless
B
plentiful
C
elastic
D
inelastic
30

In a mixed market economy, what is a typical way the government can reduce unemployment?

A
The government can pay for projects to create work.
B
The government can control new factories to provide jobs.
C
The government can create new farm fields to hire workers.
D
The government can raise taxes to encourage employment.
31

Which best describes what happens to a corporation after its founders retire?

A
It shuts down operations.
B
It transfers to new owners.
C
It continues in business.
D
It sells out to shareholders.
32

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.
33

President Roslin of Country XYZ knows that a new policy is needed to help solve the problem of rising unemployment in her nation. Her next step is to

A
develop a plan.
B
implement a plan.
C
identify the problem.
D
solve the problem.
34

What is one reason why the government would provide financial assistance to an entrepreneur?

A
to decrease the high rate of failure of new businesses
B
to encourage the invention and development of products
C
to stimulate the economy while decreasing unemployment
D
to limit the amount of personal funds used to start the business
35

Which best describes an opportunity cost?

A
accepting an opportunity to do something else when making an economic decision
B
giving up an opportunity to do something else when making an economic decision
C
accepting an opportunity to help accomplish something else when making an economic decision
D
giving up an opportunity to increase prices when making an economic decision
36

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
37

How do trade agreements help the countries involved?

A
by restricting imports
B
by accelerating production
C
by expanding tax revenues
D
by decreasing trade barriers
38

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.
39

The graph below shows the value of the US dollar versus the Canadian dollar.

Question illustration
A
October 2012.
B
November 2012.
C
February 2013.
D
March 2013.
40

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

A
labor
B
water
C
minerals
D
petroleum

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