Unit 4 Economics Exam

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

Which of the following best completes the diagram?

One result of competition in a free enterprise system is —

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

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

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

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

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

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

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

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

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

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

The market structure of pure competition is distinctive because —

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

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

Economic growth would most likely result from —

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

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

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

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

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

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?

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

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

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

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

One of the obligations of borrowing money is to —