7440343
Description
Quiz by Tara McDonald, updated more than 1 year ago
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Created by Tara McDonald
almost 8 years ago
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Question 1
Question
Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result, over 100 teachers were released from their commitments. This information would be useful for which measurement of economic activities?
Answer
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GDP
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GDP per capita
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Labor Activities
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Investment Activities
Question 2
Question
If five employees each work 35 hours a week and produce a total of 15,000 items, what is their total hourly productivity level?
Answer
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65
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95
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76
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85
Question 3
Question
The state department collects monthly reports of total sales from all newspaper companies in North Carolina. This information would be useful for which measurement of economic activities?
Answer
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Labor activities
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GDP
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Investment activities
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Consumer spending
Question 4
Question
In business terms, what is profit?
Answer
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a risky venture
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a good investment
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a holiday bonus
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a monetary reward
Question 5
Question
Which is an example of an economic factor that affects the business environment?
Answer
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business cycle
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employee morale
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management style
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long-term goals
Question 6
Question
A report sent out about the four stages of the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the economic business cycle does this report describe?
Answer
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Prosperity
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Recession
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Depression
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Recovery
Question 7
Question
Consumer prices in Venezuela increased 180.9 percent year-on-year in December of 2015, reaching an-all time high. This is describing what problem within the Venezuelan economy?
Answer
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Inflation
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Deflation
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Consumer price index
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Loose banking
Question 8
Question
Mandatory government spending includes all of the following except:
Answer
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Social Security
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Medicare
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Low income families
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National defense
Question 9
Question
Government securities are:
Answer
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IOUs; consumers buy knowing they will get more money back than they put in
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cameras
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military defense
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a way in which the government protects it's citizens
Question 10
Question
“Balancing the budget” means:
Answer
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the government has a deficit.
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the government is trying to make more money than they are spending.
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the government is in serious financial trouble.
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the government spends more money than it borrows.
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