AnswersEAP-Virginia and US Government BProblem Solving in Social Studies

Unit 4 Test Answers

25 verified answers
1
Free Preview

revealregulateprotectconceal

A
reveal
B
regulate
C
protect
D
conceal
2
Free Preview

Who was known as the "Father of Economics,” whose ideas of free markets inspired classical economic thinkers?

A
John Keynes
B
Milton Friedman
C
Friedrich Hayek
D
Adam Smith
3

The chart shows a typical school lunch menu.The menu would be considered a problem for students who

Question illustration
A
do not like fish.
B
have food allergies.
C
do not eat lunch.
D
have limited budgets.
4

What must an entrepreneur assume when starting a business?

A
that the correct location guarantees success
B
that every product has a customer who wants it
C
that clever market strategies may still fail to sell a product
D
that raising funds is the most difficult step in starting a business
5

If the domino effect occurs as a result of changes in the money supply, what will most likely happen as an immediate result of interest rates being increased?

A
Borrowing will decrease.
B
Investing will decrease.
C
Inflation will increase.
D
Liquidity will increase.
6

Read the graph.

Question illustration
A
A company selling telephones most likely has only a 40 percent chance of surviving for at least four years.
B
A company offering physical therapy most likely has only an 80 percent chance of surviving for at least two years.
C
A company offering cleaning services most likely has only a 50 percent chance of surviving for at least eight years.
D
A company selling diabetes supplies has only a 60 percent chance of surviving for at least three years.
7

Which best describes the difference between preferred and common stocks?

A
Preferred stock allows shareholders to vote for a board of directors, while shareholders of common stock do not have voting rights.
B
Common stock gives shareholders one vote per share owned, while shareholders of preferred stock do not have voting rights.
C
Preferred stock gives shareholders priority for dividends distributed, while shareholders of common stock are not allowed dividends.
D
Common stock allows shareholders to get priority for dividends distributed, while shareholders of preferred stock are not allowed dividends.
8

The graph shows labor union membership.

Question illustration
A
in 1945 and 1955
B
in 1960 and 1970
C
in 1930 and 1950
D
in 1965 and 1970
9

producersconsumersgovernmentprices

A
producers
B
consumers
C
government
D
prices
10

What is one way for an entrepreneur to decrease risk?

A
by mimicking popular products
B
by maintaining personal flexibility
C
by creating a strong business strategy
D
by developing reliable sources for materials
11

Why did Friedrich Hayek call expansionary spending dangerous?

A
He felt it could lower the money supply and cause deflation.
B
He felt it could lead to inflation and poor decisions by consumers.
C
He felt it could lead to deflation and poor decisions by consumers.
D
He felt it could lower available credit and cause a drop in prices.
12

A government might enact expansionary spending when it is trying to

A
increase aggregate demand for goods.
B
decrease aggregate demand for goods.
C
slow an economic expansion.
D
lower a budget deficit.
13

Gino is writing a paper about the effects of fiscal policies on the economy. Gino is describing a fiscal policy that aims to improve inflation.How does the policy that Gino is describing most likely affect interest rates and unemployment?

A
The policy would most likely increase interest rates and unemployment.
B
The policy would most likely decrease interest rates and unemployment.
C
The policy would most likely increase unemployment but decrease interest rates.
D
The policy would most likely increase interest rates but decrease unemployment.
14

Which steps should occur before taking action in the problem-solving process? Select three answers.gathering informationimplementing decisionsconsidering optionsweighing disadvantagesevaluating the solution

A
gathering information
B
implementing decisions
C
considering options
D
weighing disadvantages
E
evaluating the solution
15

What is one benefit for US workers who have a college degree rather than a high school diploma?

A
More than 80 percent of jobs require a college degree.
B
Those with a college degree report higher job satisfaction.
C
Most workers with a college degree are immune to layoffs.
D
Those with a college degree earn nearly twice as much as those without college.
16

A goal of financial regulatory agencies is to

A
prevent monopolies.
B
enforce workplace safety.
C
protect the environment.
D
enforce food safety.
17

A purpose of government regulation in a mixed-market economy is to protect

A
property rights.
B
corporate rights.
C
monetary rights.
D
states' rights.
18

What makes enforcing safety standards a challenge for the Food and Drug Administration?

A
Many foods are imported from other countries, and the FDA must ensure those foods meet the same standards as US goods.
B
The FDA faces competition from the EPA, which sets standards for product labeling.
C
The FDA has no control over advertising laws, which may conflict with safety standard laws.
D
Many raw materials are exported to other countries, and the FDA must ensure those materials meet the same standards as international goods.
19

In the information gathering stage of the problem-solving process, what information would be most important when choosing options for controlling the stray animal population in a town? Check all that apply.what types of food may be needed to feed stray animalshow many stray animals are needing to be controlledwhether the animals are able to be trainedwhat types of programs already exist to control stray animalshow many people in the town already own pets

A
what types of food may be needed to feed stray animals
B
how many stray animals are needing to be controlled
C
whether the animals are able to be trained
D
what types of programs already exist to control stray animals
E
how many people in the town already own pets
20

lowstablehigh

A
low
B
stable
C
high

Did you find these answers helpful?

More from this Course

Quiz
25 verified answers

Unit Test

Quiz
25 verified answers

Unit Test

Quiz
25 verified answers

Unit Test

Unit 4 Test Answers — EAP-Virginia and US…