CE.12 C,d - Structure And Operation Of U.S. Economy Question Preview (ID: 24257)
VA SOL Prep.
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What would encourage people to save their money in banks?
a) Higher gas prices
b) Interest rate increase
c) Higher inflation
d) Tax increase
In a savings and loan bank, who owns the institution?
a) creditors
b) the government
c) a bank president
d) people who have shares
All are examples of financial institutions except −
a) savings and loans.
b) banks.
c) credit unions.
d) business firms.
Private financial institutions receive deposits and make −
a) donations.
b) loans.
c) money for the federal government.
d) decisions for businesses.
A major advantage of trading with other nations is that −
a) we can conserve our resources.
b) we are able to purchase goods and services at a lower cost.
c) factories can produce whatever they want.
d) jobs are sometimes eliminated.
Both the United States and Virginia pursue worldwide trade to −
a) maintain peaceful relations with foreign countries.
b) enforce laws and guidelines enacted by Congress.
c) increase wealth and create jobs.
d) promote equal opportunities for all people.
The term “Global Economy” can BEST be described as the −
a) worldwide purchasing and selling of goods and services.
b) international interest rate.
c) meeting to study rising interest rates.
d) buying and selling of goods and services within a country.
Problem = Lower the cost of production Solution = ?????
a) Possible Solution: Purchase more expensive parts
b) Possible Solution: Charge consumers more money
c) Possible Solution: Use technology
d) Possible Solution: Use outdated machinery
What impact has innovation in technology had on the global flow of information, capital, and products?
a) improved it
b) harmed it
c) left it the same
d) eliminated it
What impact does the growth of the global economy have on businesses in Virginia?
a) The global economy has no impact on Virginia businesses.
b) Businesses in Virginia must become more efficient.
c) Businesses in Virginia must become less efficient.
d) Businesses in Virginia cannot compete with businesses in nations with cheap labor.
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