AnswersOC27 Economics-2102310-Sem-MeadowsUnit Test

Unit 6 Test Answers

48 verified answers5 views
41
Free Preview

Bob wants to borrow $5,000 to pay for a vacation. He plans to pay the loan back quickly using a bonus that he will receive in a few months. He does not want to pay a high interest loan.Which loan would be best?

A
title loan
B
payday loan
C
student loan
D
peer-to-peer loan
42
Free Preview

How have airplanes changed the way the world does business? Choose four answers.

A
by shipping raw materials to manufacture goods in other countries
B
by shortening travel time
C
by opening up new trade markets worldwide
D
by connecting business partners the fastest
E
by increasing options for travel destinations
43

salarytuitionhourly payemployee benefits

A
salary
B
tuition
C
hourly pay
D
employee benefits
44

Globalization leads to more trade between

A
consumers.
B
businesses.
C
factories.
D
countries.
45

When discussing a loan, interest rates are expressed as a percentage of the

A
investment fees.
B
the principal.
C
the profit.
D
taxes owed.
46

Which of these is a characteristic of certificates of deposit (CDs)?

A
They are always offered at variable rates.
B
They last for a set period of time.
C
They can be opened with any amount of money.
D
They allow access to the money at any time without penalty.
47

The chart below shows an exchange rate table.

Question illustration
A
Japan's currency shows that it has the strongest economy of any country.
B
The value of each currency is shown in relation to the US dollar.
C
It would take six British pounds to purchase one US dollar.
D
Swiss francs are the strongest currency in Europe.
48

The graph shows China’s workforce from 2000 to 2019.

Question illustration
A
agriculture and away from services.
B
services and away from agriculture.
C
industry and away from services.
D
agriculture, services, and industry.
49

What is the government’s aim in setting quotas?

A
to create more competition in the market
B
to increase sales of domestic goods
C
to keep tariffs high
D
to limit export of domestic goods
50

Which statement about tuition is the most accurate?

A
Four-year universities have the lowest tuition.
B
Community colleges tend to be more expensive.
C
Public colleges are cheaper for in-state residents.
D
Tuition is higher for public colleges than private ones.
51

Which technologies have made global communication instant and more effective? Choose three answers.

A
social media
B
wireless devices
C
smart phones
D
automobiles
E
printed newspapers
52

Putting money into more than one kind of investment at a time is called

A
liquidity.
B
sunken cost.
C
diversification.
D
compound interest.
53

The chart below shows an exchange rate table.

Question illustration
A
less than a pound
B
more than a pound
C
exactly one pound
D
about eight pounds
54

Which type of incentive makes it more profitable to follow a certain course of action?

Answer not available
55

Which statement best describes a college education?

A
An employer typically pays for it in order to educate an employee.
B
The student pays for it, and it is required in many professions.
C
It usually takes two years to complete and tends to focus on technical training.
D
It lasts a short period of time—only a few months, or even weeks.
56

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.
57

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
58

What do financial planning skills ultimately enable an individual to do?

A
to prepare for the future
B
to process their own tax returns
C
to stop spending
D
to become wealthier without saving money
59

When studying finance or economics, the cost of a decision is also known as a(n)

A
personal cost.
B
financial cost.
C
long-term cost.
D
opportunity cost.
60

What do financial planning skills ultimately enable an individual to do?

A
to prepare for the future
B
to process their own tax returns
C
to stop spending
D
to become wealthier without saving money

Did you find these answers helpful?

More from this Course

Quiz
85 verified answers

Unit 2 Test

Quiz
57 verified answers

Unit 3A Test

Quiz
21 verified answers

Unit 6 Test