Unit 4 Economics Exam

Economic growth would most likely result from —

Which of the following type of tax is collected by state and local governments but not by the federal government?

One advantage to using a debit card is that it allows the user to —

The market structure of pure competition is distinctive because —

Paying rent instead of purchasing tickets to a concert is an example of —

One of the obligations of borrowing money is to —

If businesses can decrease the amount of labor needed to increase inventories, the result will most likely be —

With a given amount of resources, a country with a comparative advantage will produce a product with —

One of the advantages corporations have that sole proprietorships do not is —

An important financial detail to consider when purchasing a home includes —

On a supply and demand graph, supply will decrease and shift to the left when which of the following happens?

One result of competition in a free enterprise system is —

Which of the following is an action of the Federal Reserve that strongly influences local economies?

Which resource would be considered the factor of production called land?

Based on the information on the table below, which economic condition is characteristic of all three nations?

The U.S. government was given the authority to collect income taxes with the passage of the —

Which of the following represents capital needed to start a tailoring or garment making business?

The most effective way to manage credit card debt is by —

Based on the information in the graph and the table, what is the equilibrium price of pizza?

One of the benefits of renting a home is that the cost of maintenance is —

Which one of the following is both a federal revenue source and an expenditure?

One potential risk from investing in the stock market is the loss of —

Which characteristic of the U.S. free enterprise system creates the incentive to work, save, and invest?

Loans that are obtained by offering an asset to guarantee repayment of the loan are considered —

The introduction of new manufacturing technologies generally affects economic growth by —

One government restriction to consider when proposing to build a new business includes —

Which of the following best completes the diagram?

High levels of unemployment combined with high levels of inflation could indicate that the business cycle has entered

Which of the following is most characteristic of the U.S. free enterprise system?

One way the United States could increase exports of sports cars would be to —