Ethnic and Religious Conflict — Unit test Answers

Based on the demand graph and the supply graph shown above, what is the price at the point of equilibrium? a. 100 b. 70 c. 40 d. There is not enough information given to determine the point of equilibrium. Please select the best answer from the choices provided

A store’s supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans? a. $4,500 b. $1,800 c. $1,200 d. $900 Please select the best answer from the choices provided

Suppose that Ireland has placed a tariff of 12% on its exports and a tariff of 21% on its imports. If Ireland has tariff revenue worth (equivalent US dollars) $9,148,200 and a balance of trade of $7,100,000, what are its exports and imports worth?a.$950,416 in imports, $8,050,416 in exportsb.$3,145,984 in imports, $10,245,984 in exportsc.$1,921,122 in imports, $9,021,122 in exportsd.$25,140,000 in imports, $32,240,000 in exports

The prices of consumer goods do not always exactly follow the CPI. The following chart shows several consumer items, along with their respective prices in 1983 and today.ItemPrice in 1983 ($)Current Price ($)Shower curtain8.8515.66Floor rug71.25119.75T-shirt13.9523.99Oscillating fan22.7537.50Using the prices shown on this chart, which of the following is a reasonable estimate of the current CPI?a.164b.170c.185d.199

Suppose that Algeria has a workforce of 9,416,534, each of whom earns an average annual salary of (equivalent US dollars) $6,844. If the Algerian government wishes to raise $9 billion in tax revenue, approximately where should it set the income tax rate?a.9%b.14%c.18%d.26%

Atlanta, GA has a CPI of 168. Seattle, WA has a CPI of 204. How does the purchasing power of an Atlanta resident earning a $32,800 salary compare to the purchasing power of a Seattle resident earning a $46,400 salary?a.The Atlanta resident has $34.46/CPI more than the Seattle resident.b.The Atlanta resident has $83.20/CPI more than the Seattle resident.c.The Seattle resident has $48.74/CPI more than the Atlanta resident.d.The Seattle resident has $32.21/CPI more than the Atlanta resident.

Of the four consumer protection groups listed below, identify which groups are government agencies and which are non-governmental.I. Better Business BureauII. Consumer Product Safety CommissionIII. Consumers UnionIV. Food and Drug Administrationa.I and II are governmental; III and IV are not.b.II and III are governmental; I and IV are not.c.II and IV are governmental; I and III are not.d.III and IV are governmental; I and II are not.

Which of the following is not one of the eight recognized consumer rights?a.right to safetyb.right to choosec.right to be heardd.right to dignity

The following chart shows a store’s coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of jackets. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.) a. Sales of jackets increased 3.6 percentage points faster than total coat sales. b. Sales of jackets increased 18.8 percentage points faster than total coat sales. c. Total coat sales increased 8.1 percentage points faster than sales of jackets. d. Total coat sales increased 24.5 percentage points faster than sales of jackets. Please select the best answer from the choices provided

The following table details the working populations, income tax rates, and average salary (in equivalent US dollars) for Peru and Chile.CountryWorkforceAverage Salary ($)Income Tax RatePeru10,618,7048,71424.1%Chile7,210,59514,62231.4%Based on the information in the table, how do the annual tax revenues of Peru and Chile compare to one another?a.Peru collects $294,980 more than Chile.b.Peru collects $63,408,109 more than Chile.c.Chile collects $12,901,933,434 more than Peru.d.Chile collects $10,805,998,234 more than Peru.

The figure above shows a store’s supply-demand graph for lawn chairs. If the store makes $800 by selling lawn chairs, which of the following is a possible valid price for them? a. $50 b. $40 c. $25 d. $20 Please select the best answer from the choices provided

Which of the following functions is most closely connected with the CPSC?a.ensuring product safety and setting safety standardsb.seeking to curb and prevent diseasec.working to reduce fraudulent business practicesd.keeping records of corporate histories and market performance

Which statement(s) most directly apply to communism?I. There is little or no private ownership.II. Businesses are operated for the benefit of the people as a whole.III. Individuals who take risks can gain great profits.a.I and IIb.II onlyc.II and IIId.I and III

Which of the following is not considered when calculating a country’s GDP?a.goods produced by government agencies or commissionsb.goods produced in the country by people who are not citizensc.services produced in the countryd.goods produced by citizens of the country who are currently overseas

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