Practice Exam

Question 1

The level of investment in markets often indicates

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the state of the economy.

Question 2

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

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it is less expensive to make shirts there.

Question 3

In a republic, elected officials create laws to regulate the economy.

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T

Question 4

To create the proper tone for an argumentative essay, a writer should

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use a straightforward approach.

Question 5

Motherboards, Inc., manufactures computer parts. The company’s total revenue is

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the amount the company receives from the sale of all of its computer parts.

Question 6

What is a major factor in the decline of some occupations, such as those in the textiles and clothing industries?

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overseas labor costs

Question 7

After reading a source, what is the historian’s next step in breaking down the source?

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determining the main idea of the source

Question 8

Which of these qualify as variable expenses? Choose three correct answers.

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monthly groceries; medical bills; clothing purchases

Question 9

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

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residence; food; water

Question 10

Why is compound interest preferable to simple interest when investing?

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Compound interest pays interest both on the principal and the interest earned in each period.

Practice Exam Answers