AnswersQ3 Vlastos Harris CA-EconomicsUnit Test

Unit Test — Unit test Answers

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1
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Which statement best describes the body paragraphs of an argumentative essay?

A
The body paragraphs acquaint readers with the topic and set up the ideas that will be presented.
B
The body paragraphs establish the focus of the essay and tell readers what the writer’s position will be.
C
The body paragraphs tie the essay together and tell readers what they have learned and should take away.
D
The body paragraphs flesh out the argument and include counterclaims and evidence from research.
2
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In the free-enterprise system of the United States, the government

m
makes no economic decisions.
m
makes some economic decisions.
m
makes most economic decisions.
m
makes all economic decisions.
3

What are some benefits to private ownership? Select three answers.Private ownership provides offices for government workers.Private ownership provides land or goods for all citizens to use.Private ownership can make it possible for a business to earn money.Private ownership might help a person move to another economic class.Private ownership allows a person to own goods that may increase in value.

P
Private ownership provides offices for government workers.
P
Private ownership provides land or goods for all citizens to use.
P
Private ownership can make it possible for a business to earn money.
P
Private ownership might help a person move to another economic class.
P
Private ownership allows a person to own goods that may increase in value.
4

To create the proper tone for an argumentative essay, a writer should

A
include opinionated words.
B
add complicated language.
C
incorporate unusual stories.
D
use a straightforward approach.
5

This graph shows the US unemployment rate from August 2010 to November 2011. This graph could help the US government

Question illustration
a
allocate natural resources.
l
limit production nationwide.
m
make an economic prediction.
a
address a shortage emergency.
6

Which of the following statements about opportunity cost are true?CHECK ALL THAT APPLY.It exists because resources are scarce.It influences consumers.It influences producers.It assists in anticipating profits.It encourages people to spread their resources around.

I
It exists because resources are scarce.
I
It influences consumers.
I
It influences producers.
I
It assists in anticipating profits.
I
It encourages people to spread their resources around.
7

John has a large apple orchard. He has decided to bake pies and sell them at the local farmer’s market. Which best describes John’s use of economics?

A
John is using available and renewable resources.
B
John is relying on inexpensive labor costs to improve profits.
C
John is using resources to produce both goods and services.
D
John is assuming consumers will have limited need for his product.
8

What are the basic types of resources used by producers? Choose three answers.capitallaborvaluescarcityland

c
capital
l
labor
v
value
s
scarcity
l
land
9

Opportunity cost means that something needs to be

r
replenished.
g
given up.
i
ignored.
p
paid for.
10

What type of labor force might a pottery factory want to focus on when hiring?

h
highly skilled
h
highly wealthy
h
highly educated
h
highly localized
11

Which of the following would be considered a nonrenewable resource?

s
sun
w
wind
l
lumber
p
petroleum
12

Which situation best reflects the concept of free enterprise?

A
Consumers have a choice between two bakeries in a single city block.
B
An agency determines which supplements are safe for people to buy.
C
Local officials set the prices for all the gas stations in a community.
D
The government decides the minimum wage for all airline workers.
13

formalcasualinfomal

A
formal
B
casual
C
infomal
14

What are the cons of a mixed market economy for most citizens? Select four answers.There may be a sizable gap between rich and poor people.It can be very difficult for citizens to start private businesses.Citizens must pay for most basic necessities by themselves.There is no guarantee of steady employment for many citizens.Citizens may pay higher taxes than in other economic systems.Citizens often purchase their own health care and higher education.

T
There may be a sizable gap between rich and poor people.
I
It can be very difficult for citizens to start private businesses.
C
Citizens must pay for most basic necessities by themselves.
T
There is no guarantee of steady employment for many citizens.
C
Citizens may pay higher taxes than in other economic systems.
C
Citizens often purchase their own health care and higher education.
15

In a republic, elected officials create laws to regulate the economy.

T
T
F
F

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