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2015 Business Mid Term Review
Test Description: 2015
Instructions: Answer all questions to get your test result.
1) when productivity increases, prices _______________
A
inflate
B
decrease
C
increase
D
stay the same if inputs stay the same
2) what causes inflation?
A
gas
B
people buying more stuff
C
increase in the money supply
D
fed increases interest rate
3) which of the following will get you the highest rate of return according to our assignment in class?
A
savings account
B
gold and other metals
C
real estate (house)
D
cd
4) based on THE MEN WHO BUILT AMERICA (the movie we watched in class), that time in history would be considered the most ____________ system in the history of America
A
transition
B
market
C
command
D
custom based
5) what did the men who built america have in common?
A
humility
B
honesty
C
courage
D
they were born rich
6) which man revolutionized the railroad industry?
A
henry ford
B
john d rockefeller
C
cornelius vanderbilt
D
andrew carnegie
7) which man revolutionized the oil industry by creating standard oil?
A
andrew carnegie
B
cornelius vanderbilt
C
john d rockefeller
D
jp morgan
8) which of the following men made a bridge across the mississippi river, then made his fortune in steel?
A
henry ford
B
andrew carnegie
C
john d rockefeller
D
cornelius vanderbilt
9) which of the following usually happens first in the economic history of a nation?
A
information age
B
bartering and trading for goods
C
industrial revolution
D
farming and agriculture
10) Which of the following is NOT one of the 3 investment principles we learned?
A
start early
B
buy and hold
C
diversify
D
be credit smart
*select an answer for all questions
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