Suppose that people in your community voted to eliminate all local taxes. Which of these goods and services would most likely disappear?
A.
interstate highway maintenance
B.
neighborhood trash pickup
C.
regional military base
D.
grocery store parking lots
What is the best definition of the term recession?
A.
a time when net imports are greater than net exports
B.
a period of decline in overall income and employment
C.
a time when GDP per capita rises overall
D.
a period of heightened government spending
A lighting technician’s work on a movie shoot ends in a week. What type of unemployment will she experience at that time?
A.
frictional
B.
structural
C.
casual
D.
cyclical
Which is an example of a lending investment?
A.
stocks
B.
bonds
C.
money market
D.
cash
Which of the following happens to stock when a company’s profits fall?
A.
Shareholders get stock insurance payments.
B.
Shareholders’ stock loses value.
C.
Shareholders are given more stock.
D.
Shareholders cash in their interest.
Which of the following describes a market in which there are few competitors?
A.
oligopoly
B.
monopoly
C.
cash equivalent
D.
stock market
Lower costs to allow for more money for research and development is an example of how which type of entity benefits the economy?
A.
stock market
B.
oligopoly
C.
monopoly
D.
bank
Ensuring banks are treating customers fairly is a function of which of the following?
A.
Consumer Price Index
B.
Federal Reserve System
C.
money markets
D.
tax collectors
Which people would contribute to the GDP of the United States? Select the two correct answers.
A.
a U.S. citizen producing goods in Portugal
B.
a citizen of Japan producing goods in the United States
C.
a U.S. citizen producing goods in the United States
D.
a citizen of Spain producing goods in Brazil
E.
a U.S. citizen producing goods in Canada
What is meant by the term unemployment rate?
A.
the speed at which people lose their jobs during a particular year
B.
the length of time it takes for unemployment to go down
C.
the number of people who want employment but cannot get jobs
D.
the number of jobs for which employers cannot find workers
ok, you want to see some answers, I will give you some answers, but not all of them
1.B
2.B
3.C
4.B
5.B
6.A
this is all that i have answered
I need some help, so don't look at me
I can't give you all the answers because I don't know them
can someone help me?
you are going to half to answer them yourself because i am never answering them all
To determine which goods and services would most likely disappear if local taxes were eliminated, we need to consider the funding sources for each item. Local taxes typically fund government services and infrastructure. Let's analyze each option:
A. Interstate highway maintenance: This is often funded by local taxes and would likely disappear if those taxes are eliminated.
B. Neighborhood trash pickup: This service is also typically funded by local taxes, so it could be at risk if taxes are eliminated.
C. Regional military base: Military bases are usually funded by the federal government, not local taxes, so this would likely not be affected.
D. Grocery store parking lots: Parking lots are generally funded by private businesses, not local taxes, so this would likely not be affected.
Therefore, the services most likely to disappear if local taxes are eliminated are interstate highway maintenance and neighborhood trash pickup.
Now let's move on to defining a recession:
A recession is a period of decline in overall income and employment. This means that during a recession, economic activity slows down, leading to reduced income and job opportunities for individuals. Typically, a recession is characterized by a significant decline in gross domestic product (GDP) for two consecutive quarters.
Moving on to the types of unemployment:
The lighting technician in question will experience frictional unemployment. Frictional unemployment refers to the temporary unemployment that occurs when individuals are transitioning between jobs or searching for new opportunities. In this case, the lighting technician's work on the movie shoot is coming to an end, and they will likely be searching for a new job in their field.
Now let's discuss lending investments:
Bonds are an example of a lending investment. When an individual or organization buys a bond, they are essentially lending money to a bond issuer (such as a government or corporation) in exchange for regular interest payments and the return of the principal amount at maturity. Unlike stocks, which represent ownership in a company, bonds represent debt obligations.
Now let's examine what happens to stock when a company's profits fall:
When a company's profits fall, shareholders' stock usually loses value. As profits are an important factor in determining the value of a company, a decline in profits can signal lower future returns, which can cause investors to sell their shares. This selling pressure can drive down the stock price.
Now let's talk about a market with few competitors:
A market with few competitors is known as an oligopoly. In an oligopoly, a small number of firms dominate the market and have significant influence over prices and competition. Oligopolies can benefit from reduced competition and can potentially exercise market power to maintain higher prices or restrict entry by new competitors.
Next, we'll discuss how a particular entity benefits the economy by lowering costs to allow for more money for research and development:
Lower costs to allow for more money for research and development is an example of how an oligopoly benefits the economy. Oligopolies, due to their dominant market position and reduced competition, can often achieve economies of scale and efficiency that lead to lower costs. This allows them to allocate more resources towards research and development, leading to innovation and technological advancements that benefit the overall economy.
Now let's identify the function of ensuring banks are treating customers fairly:
Ensuring banks are treating customers fairly is a function of the Federal Reserve System. The Federal Reserve System is the central banking system of the United States and oversees various aspects of the banking industry, including regulating and supervising banks to ensure consumer protection and fair treatment.
Moving on to identifying the contributors to the GDP of the United States:
The two correct answers for people who would contribute to the GDP of the United States are:
C. A U.S. citizen producing goods in the United States
E. A U.S. citizen producing goods in Canada
Individuals who are U.S. citizens and produce goods or services either within the United States or in another country (as long as they are affiliated with the U.S.) contribute to the GDP of the United States.
Finally, let's define the unemployment rate:
The unemployment rate refers to the percentage of the labor force that is unemployed and actively seeking employment. It is typically calculated by dividing the number of unemployed individuals by the total labor force and multiplying by 100. The unemployment rate reflects the proportion of the population that wants employment but cannot find jobs.