AnswersEA Academy Civics 9The Economy of the US

The Economy of the US — Unit test Answers

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Determine which functions have two real number zeros by calculating the discriminant, b2 – 4ac. Check all that apply.f(x) = x2 + 6x + 8g(x) = x2 + 4x + 8h(x) = x2 – 12x + 32k(x) = x2 + 4x – 1 p(x) = 5x2 + 5x + 4t(x) = x2 – 2x – 15

A
f(x) = x2 + 6x + 8
B
g(x) = x2 + 4x + 8
C
h(x) = x2 – 12x + 32
D
k(x) = x2 + 4x – 1
E
p(x) = 5x2 + 5x + 4
F
t(x) = x2 – 2x – 15
2
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f(x) = [___] x2 + [___] x + [___]

Answer:

-10

3

f(x) = [___] x2 + [___] x + [___]

Answer:

-2

4

In the 1980s and 1990s, movie-rental stores offered videotape and DVD rentals to consumers. By the early 2000s, companies were offering movie downloads from the internet. The demand for videotapes and DVDs dropped.

A
the effect of limited supply on demand
B
the effect of seasonal demand on goods
C
the effect of consumer interests on demand
D
the effect of outdated technology on demand
5

What steps did the US government take toward Standard Oil in the early 1900s?

A
It encouraged Standard Oil to purchase other oil-refining companies.
B
It supported Standard Oil’s efforts to increase oil-refining capacity.
C
It used the Federal Trade Commission to investigate Standard Oil.
D
It used the Sherman Act to split Standard Oil into smaller companies.
6

Review the graph.

Question illustration
A
a supply curve
B
a supply schedule
C
a demand curve
D
a demand schedule
7

Which scenario shows how a market economy is motivated by self-interest?

A
For years, Tire Company X was the only place to buy tires for 100 miles in any direction. The lack of competition meant that the company could charge higher prices for its tires. However, a new tire company has recently opened in the area. Competition has driven down prices.
B
Consumers have filed many complaints against Company A for failing to deliver products purchased from their online store. Based on the complaints, the state government has charged the company with violating the state’s consumer-protection laws.
C
It is the end of summer and Clothing Company Z has a surplus of summer clothes. Maite Ruiz, the store’s owner, decides to hold a sale on summer clothes. If customers buy three items of clothing, they will get 20 percent off the price. If they buy six items, they will get 40 percent off the price.
D
Over the last 10 years, Company B has purchased several companies that provide the same goods and services. It is now trying to buy its last large competitor. The government is trying to block the purchase, claiming that Company B already controls too much of its market.
8

Review the chart.Based on the chart, which job is probably the most difficult to fill?

Question illustration
A
airline pilot
B
air traffic controller
C
airfield operations specialist
D
flight attendant
9

A clothing company is deciding whether to make wool sweaters from yarn that is spun and dyed by individual craftspeople or from yarn that is mass-produced by machines.

A
Handcrafted yarn will be less scarce because it does not require a factory to produce it.
B
Mass-produced yarn will be less scarce because it does not require a factory to produce it.
C
Mass-produced yarn will be scarcer because it takes more time and labor to produce it.
D
Handcrafted yarn will be scarcer because it takes more time and labor to produce it.
10

Review the graphic organizer.

Question illustration
A
socialism
B
communism
C
capitalism
D
Marxism
11

Producers need to understand consumers so they can

A
acknowledge the values that consumers hold.
B
consider how consumers’ resources are limited.
C
identify consumers’ needs and wants so they can choose the right resources.
D
consider what consumers are willing to pay before deciding what to produce.
12

Amara has just started an entry-level job at a software company. The first two months will be spent in a training program to learn about the company’s software and to develop the skills needed for the job.

A
land
B
labor
C
capital
D
entrepreneurship
13

What is one way that mixed-market and command economies differ?

A
Only mixed-market economies respond to consumer needs when making economic decisions.
B
Only command economies allow competition to affect the prices of goods and services.
C
Only command economies involve the government in economic decision-making.
D
Only mixed-market economies allow consumers and producers to control the means of production.
14

The Swedish government wanted to boost the workforce participation rate in the country. One step it took was to fund childcare and preschools. As a result of this and other policies, around 75 percent of Sweden’s working-age population is now employed.

A
The policy provided employment for preschool teachers.
B
The policy made it easier for parents of young children to work.
C
The policy created jobs for the parents of preschool-aged children.
D
The policy encouraged businesses to hire more workers.
15

During colonial times, the British government passed a law that lowered the taxes paid by the British East India Company on the tea it shipped to the American colonies. The purpose of the law was to give the company control of the colonial tea market by making its tea much cheaper than any alternative.

A
by passing the Sherman Act
B
by adopting the Compensation Act
C
by creating a federalist system
D
by outlawing decentralization
16

What does the Consumer Price Index (CPI) measure?

A
The CPI measures the rate of inflation.
B
The CPI measures the effect of deflation.
C
The CPI measures the use of factors of production.
D
The CPI measures the public’s demand for goods.
17

What is the equilibrium price?

A
the price at which demand exceeds supply
B
the price at which producers provide substitute goods
C
the price at which consumers turn to substitute goods
D
the price at which supply and demand are balanced
18

Hector’s house and small farm are next to an interstate highway. The government needs Hector’s land to build an exit for the interstate.

A
Federal Trade Commission
B
Sherman Act
C
Compensation Clause
D
Declaration of Independence
19

Review the graph.

Question illustration
A
Consumer demand for microwave ovens has risen over time.
B
The cost of plastic and other raw materials has slowly increased.
C
Microwave ovens have become much less expensive to produce.
D
The price of microwave ovens has shifted to match the cost of living.
20

The price for which Company X can sell its product drops from $10 to $6, which is less profitable. What will the company most likely do?

A
increase production
B
decrease production
C
maintain production
D
stop all production

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