AnswersMA-US History II CRUnit Test

Unit Test — Unit test Answers

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1
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This graph shows the US-China trade relationship. Which statement best describes the trade relationship between the US and China?

Question illustration
A
The US has a trade surplus with China.
B
The US has a trade deficit with China.
C
The US has greater purchasing power parity (PPP) than China.
D
The China has greater purchasing power parity (PPP) than the US.
2
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Which countries are members of NAFTA? Check all that apply. BrazilCanadaMexicoPeruthe United Kingdomthe United States

A
Brazil
B
Canada
C
Mexico
D
Peru
E
the United Kingdom
F
the United States
3

Which term describes the trend toward a world that is more interconnected by technology, trade, and travel?

A
social networking
B
free trade
C
surplus
D
globalization
4

What are the advantages of being a multinational corporation? Check all that apply. expansion into new marketsaccess to cheaper laborcreation of a trade surplusreliance on unskilled workerslower tax payments

A
expansion into new markets
B
access to cheaper labor
C
creation of a trade surplus
D
reliance on unskilled workers
E
lower tax payments
5

According to the law of supply, price and quantity move

A
along a track in the same direction.
B
along a track in opposite directions.
C
from different points toward one another.
D
from the same point away from one another.
6

Which statement explains how regulations on prices affect business practices?

R
Regulations keep prices fair and prevent businesses from establishing monopolies.
R
Regulations keep prices low and help businesses to establish monopolies.
R
Regulations keep prices fair and help businesses to establish monopolies.
R
Regulations keep prices low and prevent businesses from establishing monopolies.
7

Government regulation is intended to

A
encourage producers to take negative actions.
B
discourage producers from taking harmful actions.
C
encourage producers to follow the Constitution.
D
discourage producers from making a profit.
8

Why does the Fed pay interest to banks?

A
It is interest on money held in reserve.
B
It is interest on credit available to the Fed.
C
It is interest on loans taken by the Fed.
D
It is interest on government investments.
9

What makes enforcing safety standards a challenge for the Food and Drug Administration?

A
Many foods are imported from other countries, and the FDA must ensure those foods meet the same standards as US goods.
B
The FDA faces competition from the EPA, which sets standards for product labeling.
C
The FDA has no control over advertising laws, which may conflict with safety standard laws.
D
Many raw materials are exported to other countries, and the FDA must ensure those materials meet the same standards as international goods.
10

Which best describes what generally occurs in financial markets?

A
Debt and loans are traded.
B
Assets are traded.
C
Commodities are traded.
D
Shares are traded.
11

The Federal Reserve manages the nation’s currency and money supply by

m
manipulating interest rates and acting as a lender to banks.
o
overseeing bank collections and payments on loans.
d
dictating criteria and setting loan terms for banks.
o
offering investment advice and adjusting interest rates.
12

Which business is an example of a multinational corporation?

A
a Canadian restaurant chain with locations across Canada
B
a US-based coffee chain with locations worldwide
C
an Indian automaker that supplies low-cost vehicles across India
D
a British boutique with a few stores located in high-end neighborhoods
13

Which of these is a banking activity of the Fed?

p
printing money
r
regulating securities markets
s
storing money for banks
f
funding government programs
14

This graph shows the changing unemployment rate in the United States.From 2001 to 2011, unemployment in the United States

Question illustration
A
stayed the same.
B
slightly changed.
C
sharply increased.
D
sharply decreased.
15

Which types of investments are securities?

A
both debt and equity
B
debt only
C
equity only
D
neither debt nor equity
16

Private property is land or goods

o
owned by the government.
o
owned by an individual.
u
used by state officials.
u
used for taxation.
17

This graph shows the changing unemployment rate in the United States.Based on this graph, what can be concluded about the economy between 1991 and 2008?

Question illustration
A
The economy was getting stronger because unemployment was low.
B
The economy was getting stronger because too many manufacturing jobs were available.
C
The economy was getting weaker because employment was low.
D
The economy was getting weaker because stagflation was occuring.
18

Examine the pie chart.

Question illustration
A
Social Security and social programs
B
national defense and transportation
C
international aid and veterans’ programs
D
education and managing the nations’ debt
19

Which example best describes how a bank injects money into the economy?

A
A bank opens a savings account for a customer.
B
A bank approves a loan for a customer.
C
A bank buys a company’s rapidly growing stock.
D
A bank buys property in a bustling business district.
20

Look at a portion of a sample paycheck:

Question illustration
A
payroll
B
property
C
income
D
excise

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