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Survivor Quiz 12 Questions
Test Description: Review
Instructions: Answer all questions to get your test result.
1) One important reason VA and the US trade with other nations is to
A
to control worldwide trade
B
sell goods outlawed by the US
C
buy things we cannot produce
D
to decrease jobs
2) Businesses in VA specialize in producing certain goods in order to
A
reduce tariffs
B
gain a monopoly in international markets
C
control inflation
D
promote efficiency and growth
3) The term Global Economy can BEST be described as the
A
worldwide buying and selling goods
B
international interest rates
C
buying goods and services within a country
D
meeting a study rising interest rates
4) One important influence of new technology in the workplace is the
A
reduction of the flow of capital
B
decrease of supply and demand
C
creation of new jobs
D
increase in the cost of production
5) What lowers the cost of production?
A
purchasing more expensive parts
B
charging consumers more money
C
new technology
D
using outdated and old machinery
6) Which technology has contributed to the global flow of capital, goods, services, and information?
A
internet
B
radio
C
telephone
D
magazines
7) All the ways the government promotes competition EXCEPT
A
encouraging businesses to start up
B
limiting loans to small businesses
C
participating in global trade
D
passing and enforcing anti-trust laws
8) Why does the US enforce anti-trust laws?
A
to provide public goods
B
to stop competition
C
to increase taxes
D
to prevent monopolies
9) A DJ cusses on live radio. Which government agency will most likely levy a fine?
A
FDIC
B
FCC
C
EPA
D
FTC
10) Which government agency tries to prevent pollution?
A
OSHA
B
EPA
C
FTC
D
FCC
11) Which government agency would issue a consumer alert for an unsafe product?
A
EPA
B
FED
C
FCC
D
FTC
12) Government produces goods and services because-
A
US businesses won't produce them
B
the Constitution requires it
C
for the fun of it
D
people alone could not produce them
*select an answer for all questions
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