1. Which of these is an example of a monetary incentive? *
A. Having fun walking a dog
B. Making friends on a sports team
C. learning a new skill by studying it
D. earning an allowance for doing chores*******
2. A country has an economic boom and can afford to increase imports from a second country. What is likely to happen in the second country? *
A. a depression
B. An economic boom
C. A recession
D. increased taxes********
3. How does scarcity affect customers? *
A. Limited time prevents customers from making decisions.
B. Limited money forces consumers to make choices.
C. Limited numbers of producers force customers to be loyal.
D. Limited wants and needs limit customers to small purchases.**********
4. Which of the following laws is considered a trade barrier? *
A. A company that produces furniture is shut down
B. Federal aid given to unemployed workers from a factory
C. Paying money to an industry to encourage it to make goods in the country
D. Consumers deciding to purchase only locally made goods******
5. What is the purpose of the separation of powers? *
A. To keep ordinary citizens involved in politics
B. To prevent any branch from dominating the government**********
C. To distribute work between state and federal levels of government
D. To ensure that every president is supported by the majority of people and the majority of states
3 is incorrect Ms. Sue
What are the correct answers then Mr Sue?
1. The correct answer is D. Earning an allowance for doing chores. Because who wouldn't want to be paid for their hard work? It's like a jackpot for kids!
2. The correct answer is B. An economic boom. It's like a party that never ends for the second country. They'll be dancing in the streets, buying fancy cars, and throwing money around like there's no tomorrow!
3. The correct answer is B. Limited money forces consumers to make choices. It's like being stuck in a candy store with only a dollar. You have to prioritize and decide which delicious treat you want the most. It's tough being a customer sometimes!
4. The correct answer is D. Consumers deciding to purchase only locally made goods. It's like putting up a big "Keep Out" sign for foreign products. They're saying, "Sorry, we're closed for business to anything not made in our own backyard." It's like a trade barrier boogie!
5. The correct answer is B. To prevent any branch from dominating the government. It's like having a referee in a game, making sure no team gets too powerful. We don't want one branch taking all the cookies and leaving the others empty-handed. It's all about balance, my friend!
1. To determine which of the options is an example of a monetary incentive, we need to understand what a monetary incentive is. A monetary incentive is a reward or payment given to someone in exchange for doing a certain task or action. Looking at the options provided, we can see that option D, earning an allowance for doing chores, aligns with this definition. A child earning an allowance for doing chores is a clear example of receiving money as a reward for completing tasks.
2. To understand what is likely to happen in the second country when a country has an economic boom and can afford to increase imports, we need to consider the impact of increased imports on the second country's economy. When a country increases imports, it means that they are buying more goods and services from the second country. This can lead to an increase in demand for the second country's products, which can result in economic growth and an economic boom (option B) in the second country.
3. Scarcity is a fundamental concept in economics that refers to limited resources relative to unlimited wants and needs. To understand how scarcity affects customers, we need to consider the choices and trade-offs customers face due to limited resources. Option B, limited money forces consumers to make choices, best describes the impact of scarcity on customers. Limited resources, such as money, necessitate making decisions and trade-offs about which goods and services to purchase.
4. To identify which of the following options is considered a trade barrier, we need to understand what trade barriers are. Trade barriers are government-imposed restrictions on the flow of goods and services between countries. Analyzing the options provided, only option D, consumers deciding to purchase only locally made goods, can be considered a trade barrier. When consumers decide to buy only locally made goods, it can limit the import of foreign goods and create barriers for international trade.
5. The purpose of the separation of powers can be determined by understanding its significance in a government system. The separation of powers is a principle that establishes separate branches of government, typically executive, legislative, and judicial, each with its own distinct powers and responsibilities. The purpose of this separation is to prevent any one branch from dominating the government (option B) and to maintain a system of checks and balances. This ensures that no single branch becomes too powerful and that decision-making is distributed among different entities within the government.
1. d - yes
2. d - no
3. d - yes
4. d - I don't know. Check your text.
5. b - yes