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EOC Practice Test 3

Last updated over 6 years ago
26 questions
1

Ashley would like to buy a reliable car for under $10,000. Jeremy has a reliable car that he would like to sell for $8,000 to buy a truck for his business. If Ashley buys Jeremy's car, the sale is an example of a(n)

1

Productivity can best be defined as

1

A consumer will make a rational decision to purchase a car when

1

A country with a very high poverty rate invests in human capital, technology and healthcare. Which of the following would most likely occur?

1

In a market economy, how are goods typically allocated?

Dear Diary,
Dad was really upset when he came home today. The plant where he works is old and poorly maintained. He made suggestions to improve the factory, but was ignored. I heard him telling Mom that he is tired of doing work and that he hates getting paid the same as other people at the plant who often don’t show up for work, or do very little once they arrive. He says they have no incentive to work. Mom reminded him that we have a lot to be thankful for. The government provides us with an apartment, guarantees that he will get retirement benefits, and free healthcare.

1

Using the paragraph above, which of the following quotes from the text would support the claim that economic security was important in this society?

1

Using the image above, a decrease in quantity demanded would be lillustrated by

1

Which of the folloiwng illustrates actions that correlate with the Law of Supply?

1

Examine graphs (A) through (D) above.
Which of the graphs above represent the change that would occur due to the increase in the price of a complementary good for a product?

1

Examine the image above. An effective price ceiling on the market above would be at

1

Examine the graph above.

Which of the following conclusions can be made from the graph?

1

In the financial industry, there are many banks that offer similar products. They often compete in terms of interest rates and perks offered to customers. Banks most likely fall under which market structure?

1

Which TWO scenarios are MOST negatively affected by unanticipated inflation?

1

The formula C+I+G+Nx is the output expenditure model that best calculates

1

The total amount of goods and services produced in a country in a year can best be represented by

1

Which of the following best completes the diagram above?

1

If a country wished to impose a trade barrier that would limit foreign competition and provide benefit to domestic consumers and producers, which trade barrier would work best?

1

Why do domestic producers of a good benefit from trade barriers like embargos or quotas?

1

John wishes to determine how many Euros he can purchase with one US dollar. Josh is trying to determine the

1

Which group is MOST LIKELY to benefit if the US Dollar appreciates against the Yen?

1

Use the table above to answer the question.

Based on the table, which development MOST LIKELY occurred between 2000 and 2003?

1

To maximize profits, a bank would charge

1

In saving and investing, as the risk of financial loss increases, investors must receive

1

Kayla has not built an emergency savings account and has found herself needing $500 today. Which financial institution could she use, and what risks are associated with it?

1

Which of the following statements suggests that property taxes might be progressive?

1

Credit Card 1: 24.99% APR
Credit Card 2: 14.99% APR
Bank Loan 1: 7.99% APR
Bank Loan 2: 6.99% APR

If the list above represents Katie's choices for paying for college, which option would be the least costly for her?