AnswersFL-2106010-MJ Civics B-CRUnit Test

Unit Test — Unit test Answers

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Read what President Bill Clinton said about interest rates in his 1996 State of the Union address."Lower interest rates have made it easier for businesses to borrow and to invest and to create new jobs. Lower interest rates have brought down the cost of home mortgages, car payments, and credit card rates to ordinary citizens.”—President Bill Clinton, January 23, 1996

A
Lower interest rates lead to higher prices for goods.
B
Lower interest rates do not help the economy improve.
C
Lower interest rates lead to more spending and more jobs.
D
Lower interest rates are better for businesses than for citizens.
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What is the best definition of an interest rate?

A
the money that a bank pays as interest to depositors on their savings accounts
B
the percentage that compares a bank’s deposits to its loans in a given period of time
C
the total amount that a bank branch can provide to borrowers as a business or personal loan
D
the percentage that compares the amount of interest paid to a bank to the amount given as a loan
3

Review the photograph.

Question illustration
A
The governors of the impacted states would provide funds from their state budgets.
B
The president would tell the US Treasury to send money to the area affected by the flood.
C
Congress would approve a large sum of money in discretionary spending for various recovery efforts.
D
Mandatory spending for existing programs would be redirected to help individuals and businesses.
4

Which describes a country with a single-resource economy?

A
It has a large budget for social programs that help its citizens.
B
It relies on one natural resource that it sells to other countries.
C
It sells several products to countries that are in need.
D
It buys a variety of products from one specific country.
5

What is the definition of productivity?

A
the method used to produce something
B
the dollar cost of consuming something
C
the rate at which something is produced
D
the rate at which something is consumed
6

One source of federal tax revenue is fees. The government charges fees for specific services it provides. What is an example of this kind of fee?

A
Esteban noticed that, after he got a raise, more money was taken out of his paycheck.
B
Sanjay and his family had to pay to use a camping spot at Yellowstone National Park.
C
Flora was surprised when the price of a pair of headphones produced in China increased.
D
Makayla’s new dog-walking business required a large sum in payroll taxes for her employees.
7

Which is the best definition of international trade?

A
the number of types of currencies you can find in the world
B
the act of leaving one country and going to another country
C
the buying and selling of goods between different countries
D
the number of nationalities in a person’s family background
8

What is one of the benefits of trade policies that eliminate barriers in international trade?

A
More international trade translates to higher wages for all workers in the United States.
B
There are more goods and services available, and this competition drives down prices.
C
Sales of US products increase due to fewer foreign products in the marketplace.
D
Working conditions improve for employees in each of the trading partner countries.
9

What is one way banking has changed in the 21st century?

A
Customers can now open savings accounts that earn interest.
B
Customers can now apply for checking accounts at all banks.
C
Customers can now get personal loans at local bank branches.
D
Customers can now do banking on their computers or phones.
10

Which is a barrier to international trade?

A
bad weather
B
natural disasters
C
high prices for locally produced products
D
the vast distance between some countries
11

What is the definition of inflation?

A
when a company’s profits go up
B
when the interest rates on bank accounts rise
C
when there is an increase in the price of goods and services
D
when there are more products created than demand for them
12

What opportunity is provided by the "trial-and-error” quality of entrepreneurship?

A
the opportunity to avoid making mistakes
B
the opportunity to grow and learn things
C
the opportunity to know when to give up
D
the opportunity to raise money for funding
13

Raven’s cakes are famous in her community. They are delicious, with many layers and unusual shapes. Raven bakes them in her own kitchen, but she needs more space to keep up with demand. She created a plan for expanding her business and applied for a small business loan from the bank. However, the bank thinks her plan is too risky and will not give her the loan.

A
She does not have a business plan.
B
She is unable to obtain funding.
C
She does not have enough customers.
D
She has set her prices too high.
14

During her campaign, a candidate for president talks about her plans for the federal budget. She stresses the need to increase spending for schools and other educational programs. The candidate wins and becomes the president of the United States. She submits her budget proposal, which includes a lot more funding for schools.

A
The president signs the federal budget into law.
B
Congress debates the president’s budget proposal.
C
The president tells Congress they must approve her budget proposal.
D
Congress replaces the president’s budget with their own proposals.
15

How do economists use the GDP per capita rate?

A
They compare individual wealth in different countries.
B
They compare the standard of living in different countries.
C
They contrast the unemployment rate in different countries.
D
They contrast the productivity rate in different countries.

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