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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
stay the same if inputs stay the same
B
increase
C
inflate
D
decrease
2) what causes inflation?
A
increase in the money supply
B
people buying more stuff
C
fed increases interest rate
D
gas
3) which of the following will get you the highest rate of return according to our assignment in class?
A
real estate (house)
B
savings account
C
gold and other metals
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
custom based
B
transition
C
command
D
market
5) what did the men who built america have in common?
A
humility
B
they were born rich
C
honesty
D
courage
6) which man revolutionized the railroad industry?
A
cornelius vanderbilt
B
andrew carnegie
C
henry ford
D
john d rockefeller
7) which man revolutionized the oil industry by creating standard oil?
A
cornelius vanderbilt
B
jp morgan
C
andrew carnegie
D
john d rockefeller
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
cornelius vanderbilt
D
john d rockefeller
9) which of the following usually happens first in the economic history of a nation?
A
farming and agriculture
B
information age
C
bartering and trading for goods
D
industrial revolution
10) Which of the following is NOT one of the 3 investment principles we learned?
A
buy and hold
B
start early
C
diversify
D
be credit smart
*select an answer for all questions
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