Answers25-26 Swierczynski -- English 11 - 4th 9 Weeks Section 2Unit Test

Topic Test Answers

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41
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Which of the following is not one of the categories of which the CPI market basket consists?

A
housing
B
food
C
education
D
industry
42
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Which of the following functions is most closely connected with the FDA?

A
regulating markets and preventing monopolies
B
enforcing truth in advertising
C
protecting the public from unsafe medicines and foods
D
using monetary policy to prevent inflation
43

Say that the economy is in an expansion, causing wages to increase by six percent. If you previously received a monthly salary of $1,375.00, what will your new monthly salary be? Round all dollar values to the nearest cent.

A
$2,365.00
B
$1,604.17
C
$1,462.77
D
$1,457.50
44

The CPI in 1970 was 38.8. The CPI in 2007 was 207.3. The purchasing power of $50,000 in 1970 was _____ the purchasing power of $200,000 in 2007.

A
less than
B
more than
C
the same as
D
not comparable to
45

How do the choices consumers make impact business decisions?

A
Businesses are run by consumers, so the choices those consumers make will find their way into business decisions.
B
Businesses can track the trends of what consumers are and are not buying, and will attempt to cater to the desires of those who provide them with profits.
C
The government mandates that businesses respond promptly to the preferences of the market.
D
Businesses, like consumers, tend to follow fads and trends, so setting trends can cause businesses to follow along.
46

The figure above shows a store’s supply-demand graph for coffee makers. If the store sells $375 worth of coffee makers, which of the following is a valid possible price for them?

Question illustration
A
$15
B
$25
C
$40
D
$55
47

What consumer protection agency is known by the acronym FTC?

A
Federation of Traders and Consumers
B
Foreign Tariff Committee
C
Federal Trade Commission
D
Fair Trade Community
48

Suppose that the countries of Brazil, Argentina, Ecuador, and Venezuela have interdependent economies. The following table shows the imports and exports between each of these countries. All prices are given in millions of equivalent US dollars.Country of OriginExporting toAmount ($ 1,000,000)BrazilArgentina4,691BrazilEcuador4,791BrazilVenezuela1,526ArgentinaBrazil1,881ArgentinaEcuador1,971ArgentinaVenezuela2,153EcuadorBrazil3,106EcuadorArgentina3,672EcuadorVenezuela2,018VenezuelaBrazil4,535VenezuelaArgentina1,577VenezuelaEcuador1,871If these four countries trade only within this group, what is the difference between the highest balance of trade and the lowest balance of trade?

Question illustration
A
$6,221,000,000
B
$5,003,000,000
C
$3,772,000,000
D
$2,123,000,000
49

What is a consequence of following the Comparative Advantage Principle?

A
Countries only make one kind of good or service.
B
Wages scale to exactly match the skill of the wage-earners.
C
Countries become more interdependent on one another for goods and materials.
D
Goods are traded directly, rather than using monetary trade.
50

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 Administration

A
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.
51

The following chart shows a store’s coat sales for two years. Identify the percent increase in sales of parkas and the percent increase in sales of raincoats. 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.)

Question illustration
A
Sales of parkas increased 65.2 percentage points faster than sales of raincoats.
B
Sales of parkas increased 1.5 percentage points faster than sales of raincoats.
C
Sales of raincoats increased 89.1 percentage points faster than sales of parkas.
D
Sales of raincoats increased 49.0 percentage points faster than sales of parkas.

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