Practice Exam

Question 1

Which is the best question for Joe to ask himself when deciding whether to open a checking or savings account?

Revolt · Accepted Answer

Why am I opening a bank account?

Question 2

If the value of the US dollar declines in relation to other currencies, goods imported into the United States will

Revolt · Accepted Answer

become more expensive.

Question 3

Which is a kind of federal payroll tax?

Revolt · Accepted Answer

medicare tax

Question 4

What should be included in an informative essay? Choose four correct answers.

Revolt · Accepted Answer

supporting details; properly cited sources; parenthetical citations; smooth transitions

Question 5

A tariff is a type of

Revolt · Accepted Answer

tax.

Question 6

A factory owner might decide to manufacture shirts in Pakistan instead of the United States because

Revolt · Accepted Answer

it is less expensive to make shirts there.

Question 7

What decisions does the business cycle help businesses make? Choose four correct answers.

Revolt · Accepted Answer

whether to increase or decrease production; whether to hire or lay off workers; whether to invest or save money; whether to grow or shrink the business

Question 8

Which information can be found on a person’s credit report? Choose four correct answers.

Revolt · Accepted Answer

an unpaid utility bill that has been given to a collection agency; the person’s social security number; the person’s credit rating; an inquiry from a bank that requested the person’s credit report

Question 9

Which of these are considered needs? Choose three correct answers.

Revolt · Accepted Answer

food; water; residence

Practice Exam Answers

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