Answers EA Academy Civics 9Globalization and International Trade

Globalization and International Trade — Unit test Answers

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What is the definition of productivity?

the method used to produce something

the dollar cost of consuming something

the rate at which something is produced

the rate at which something is consumed

What is the definition of inflation?

when a company’s profits go up

when the interest rates on bank accounts rise

when there is an increase in the price of goods and services

when there are more products created than demand for them

What is the best definition of an interest rate?

the money that a bank pays as interest to depositors on their savings accounts

the percentage that compares a bank’s deposits to its loans in a given period of time

the total amount that a bank branch can provide to borrowers as a business or personal loan

the percentage that compares the amount of interest paid to a bank to the amount given as a loan

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