AnswersOC27 Economics-2102310-Sem-MeadowsEconomic Development

Unit 5 Test Answers

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101
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When the Fed adjusts its interest rate, it directly influences consumer

A
saving.
B
spending.
C
borrowing.
D
investing.
102
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When revising for style in an informative essay, a writer should replace

A
slang and contractions.
B
data and contractions.
C
slang and transitions.
D
data and transitions.
103

On which country has the United States imposed an embargo since 1960?

A
Cuba
B
Iran
C
North Korea
D
Syria
104

Which best describes how expansionary policies can facilitate economic growth?

A
They prompt decreased demand.
B
They inspire consumer confidence.
C
They increase disposable income.
D
They help reduce consumer debt.
105

Global trade provides consumers with

A
more options and lower prices.
B
fewer options and lower prices.
C
more options and higher prices.
D
fewer options and higher prices.
106

How has globalization made countries more interdependent? Choose five answers.Countries now rely on one another for vital resources.Countries now rely on each other for new industries.Countries now rely on one another for chances to import and export.Countries now rely on one another to lower their GDP.Countries rely on each other for cheaper products.Countries now rely on one another for an employment base.

A
Countries now rely on one another for vital resources.
B
Countries now rely on each other for new industries.
C
Countries now rely on one another for chances to import and export.
D
Countries now rely on one another to lower their GDP.
E
Countries rely on each other for cheaper products.
F
Countries now rely on one another for an employment base.
107

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.
108

What is the first step to creating an informative essay?

A
editing
B
prewriting
C
drafting
D
sequencing
109

Why is the Fed often referred to as a “lender of last resort,” or the last lender to turn to in a crisis?

A
It lends consumers money when other banks will not.
B
It keeps all failing banks afloat to avoid economic disruption.
C
It helps finance and stabilize central banks internationally.
D
It offers banks financial protection to keep consumers from panicking.
110

Technologies that allow for instant worldwide communication include

A
high-speed trains and naval ships.
B
mobile phones and Internet access.
C
airplanes and container shipping.
D
outsourcing and new trade markets.
111

The three steps governments follow to create public policy are

A
identifying a problem, publicizing a plan, and implementing policy.
B
identifying a problem, developing a plan, and referring it to Congress.
C
identifying a problem, referring it to Congress, and developing a plan.
D
identifying a problem, developing a plan, and implementing policy.
112

The table compares two countries and two products.

Question illustration
A
focus both on its petroleum and seafood industries
B
focus on the seafood industry only
C
focus on the petroleum industry only
D
decide to find another industry to focus on
113

The most efficient way to ensure that producers are responsible for products is through

A
advertising.
B
legislation.
C
labeling.
D
compliance.
114

When revising a body paragraph in an informative essay, it is important to make sure

A
it has a clearly stated main point.
B
it is complex and detailed.
C
it restates important evidence.
D
it includes a thesis statement.
115

A plan for spending money that balances income with spending and shows how money will be spent is

A
a surplus.
B
an expenditure.
C
a budget.
D
a deficit.
116

What is the purpose of quotas?

A
to ban all imports from a country
B
to ensure specific goods are not available to consumers
C
to limit how much of a good can be imported
D
to keep prices on domestic goods low
117

Which best explains how contractionary policies can hamper economic growth?

A
They increase consumer demand.
B
They can increase inflation.
C
They reduce taxes which raises deficits.
D
They reduce disposable income.

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