EOC Practice Test 1

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Complete the sentence. Stuctural unemployment occurs

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The federal government is concerned that the Consumer Price Index rose by 6% this year. The federal government could

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Fiscal policy includes actions

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If the Federal Reserve buys Treasury securities on the open market at the same time that the federal government drastically increases spending, then

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Monetary policy is the Federal Reserve's attempt to

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Suppose the downward sloping market demand curve for personal computers remains the same but new regulations reduce the ability of companies to efficiently produce and distribute computers.. The MOST likely result of this regulation is that

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When Apple purchased a large production facility in Silicon Valley, the company made a purchase in the

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James and Kim decided to open a computer repair shop. They used their own money and went to city hall to get a business license. James repairs the computers and Kim serves the customers and handles the accounts. What is the primary benefit of this company as it is structured?

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In which market structure does a firm have the LEAST control over its product's price?

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According to the circular flow model shown, the flow of goods and services is illustrated by paths

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According to the production possibilities information, the opportunity cost of moving from point C to point B could be expressed as

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In which economic system does the government centrally plan the allocation of productive resources?

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One important assumption underlying market economies is that

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The main opportunity cost of saving money is

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A local grocery store has decided to charge customers for bags. Which TWO statements describe how customers will MOST LIKELY respond to this change?

1

In country A, everyone pays a 10% income tax. This type of tax system is known as

1

Eric has $2,000 that he wants to place in a savings account. He has researched two accounts, and both accounts pay 3.5% interest. Account X pays simple interest. Account Y pays compound interest. Eric should choose

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Carlton is injured while working at a retail store. Which type of insurance is MOST LIKELY to provide benefits while he is temporarily out of work?

1

Creditworthiness is MOST AFFECTED by

1

Loans extended for longer periods of time often involve higher interest rates in order to

1

Which group is MOST LIKELY to benefit if the US Dollar appreciates against the Yen?

1

Which trade barrier is associated with laws that require certain shipping methods and proper handling of food or equipment?

1

Which generalization is the MOST accurate comparison of absolute advantage and comparative advantage?

1

If the United States has a balance of trade surplus with Belize, it means that

1

Complete the sentence. Stuctural unemployment occurs

The federal government is concerned that the Consumer Price Index rose by 6% this year. The federal government could

Fiscal policy includes actions

If the Federal Reserve buys Treasury securities on the open market at the same time that the federal government drastically increases spending, then

Monetary policy is the Federal Reserve's attempt to

Suppose the downward sloping market demand curve for personal computers remains the same but new regulations reduce the ability of companies to efficiently produce and distribute computers.. The MOST likely result of this regulation is that

When Apple purchased a large production facility in Silicon Valley, the company made a purchase in the

James and Kim decided to open a computer repair shop. They used their own money and went to city hall to get a business license. James repairs the computers and Kim serves the customers and handles the accounts. What is the primary benefit of this company as it is structured?

In which market structure does a firm have the LEAST control over its product's price?

According to the circular flow model shown, the flow of goods and services is illustrated by paths

According to the production possibilities information, the opportunity cost of moving from point C to point B could be expressed as

In which economic system does the government centrally plan the allocation of productive resources?

One important assumption underlying market economies is that

The main opportunity cost of saving money is

A local grocery store has decided to charge customers for bags. Which TWO statements describe how customers will MOST LIKELY respond to this change?

In country A, everyone pays a 10% income tax. This type of tax system is known as

Eric has $2,000 that he wants to place in a savings account. He has researched two accounts, and both accounts pay 3.5% interest. Account X pays simple interest. Account Y pays compound interest. Eric should choose

Carlton is injured while working at a retail store. Which type of insurance is MOST LIKELY to provide benefits while he is temporarily out of work?

Creditworthiness is MOST AFFECTED by

Loans extended for longer periods of time often involve higher interest rates in order to

Which group is MOST LIKELY to benefit if the US Dollar appreciates against the Yen?

Which trade barrier is associated with laws that require certain shipping methods and proper handling of food or equipment?

Which generalization is the MOST accurate comparison of absolute advantage and comparative advantage?

If the United States has a balance of trade surplus with Belize, it means that

When nations specialize in the production of goods in which they possess a comparative advantage, which of the following is a result?