Presentation on theme: "EOCT Review Charts Click here to start."— Presentation transcript:
1EOCT Review Charts Click here to start. Directions- Without exiting the presentation and only by clicking on the answers, work your way to the final slide. Make sure the hand is showing before you click.Click here to start.
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31)Which country MOST likely relies on primary economic activities? B) SyriaA) IsraelC) TurkeyD) Yemen
4I. the European Union II. ASEAN III. OPEC IV. NAFTA 2)Proponents of free trade would MOST LIKELY support which of these organizations?A) I and IV onlyB) II and IV onlyC) I, II, and IV onlyD) II, III, and IV only
53) Washboard mussels are found along Wisconsin's portion of the Mississippi River. According to the diagram, equililbrium price occurred in which year?A) 1988B) 1989D) 1995C) 1990
64) The graph shows the demand for Twinkie-Doodles in the months of June and December. The demand curve has moved to the right on the graph. This shows that..A) the price for Twinkie-Doodles went downB) buyers and sellers cannot agree on a priceC) the supply of Twinkie-Doodles has decreased.D) the demand for Twinkie-Doodles has increased.
75) Assuming that the graph follows the normal laws of economics, the line represents B) supply.A) demand.C) equilibrium price.D) production possibilities
86) Money that individuals receive from businesses return to businesses in B) the product marketsA) the factor markets.C) the purchase of landD) the payment for resources
9Due to technological advances, individuals are able to buy and download music from the Internet as opposed to simply buying music from a store.7) Which statement describes an economic impact of this technological advance?A) Consumer demand for compact discs has increasedB) Consumer demand for compact discs has decreasedC) The efficiency of downloading music has decreased.D) The number of stand alone music stores has increased
108) The peak in 1945 would correlate to what international issue? B) World War IA) Korean WarC) Vietnam WarD) World War II
119) A period during which real GDP declines for two quarters in a row, or six consecutive months, is MOST LIKELY aB) recovery.A) recession.C) peakD) trough.
1210) What happens to the production of Product A as a result of comparative advantage? B) The output of Product A increases to 60,000 total units.A) The output of Product A decreases to 0 total units.D) The output of Product A increases to 800,000 total units.C) The output of Product A decreases to 30,000 total units
1311) According to the information, one U. K 11) According to the information, one U.K. pound is worth approximatelyB) two U.S. dollars.A) one U.S. dollar.D) one-half of one U.S. dollar.C) four U.S. dollars.
1412) Which statement is the MOST ACCURATE description of teenage labor force participation? A) More than half of all year olds were in the workforce in 1961B) Teenage labor force participation has steadily declined since the recession of 1954.C) The lowest recorded teenage labor force participation rates have occurred since 2001D) Since the recession of 1991, the participation of year olds has steadily increased
1513) Which statement accurately describes the contents of this graph? B) At the equilibrium price, quantity supplied exceeds quantity demandedA) At the equilibrium price, quantity supplied equals quantity demanded.C) When the price goes above the equilibrium price, quantity demanded increases.D) When the price goes below the equilibrium price, quantity supplied increases
1614) The graph is a production possibilities chart 14) The graph is a production possibilities chart. Which of the following might cause the line to move to the right?B) an increase in pricesA) higher labor costsC) shortage of required resourcesD) improved technology in whoopee cushion production
1715) Which of the following presidents was NOT able to reduce the national debt as a percentage of the gross domestic product?B) Bill ClintonA) John KennedyC) Richard NixonD) Ronald Reagan
18This regulation lays down the principle that exports from the European Community to third countries are free...they are not subject to any quantitative restrictions." -European Community Council Regulation No. 2603/ December 196916) Based on this passage, the European Union has establishedB) free trade for exportsA) free trade for importsC) trade barriers for importsD) trade barriers for exports
1917) The workers in this photo MOST LIKELY represent B) dependency ratioA) capital goodsC)specialization of labor.D) economic interdependence
2018) Which nation is described by these statements? 1. It is one of the most successful market economies in the world today Its economy is the second largest in the world, with $4.5 trillion in GDP Because of its physical geography there is little land available for farming, so it is highly industrialized and imports most food products.18) Which nation is described by these statements?B) JapanA)IndiaC) VietnamD)North Korea
21When William got a summer job delivering newspapers, he decided to budget his income. This week, William made $50 at work.19) According to William’s budget, how much money from this week’s pay should he put into his new computer fund?B) $10A) $5C) $15D) $20
2220) How do individuals contribute to the circular flow of economic activity? A) Businesses buy goods and services from individualsB) Businesses purchase productive resources in product markets.D) Individuals buy productive resources from factor markets and provide labor for product marketsC) Individuals provide labor for factor markets and buy goods in product markets.
2321) You have decided to buy a car and would like a newer model year 21) You have decided to buy a car and would like a newer model year. You also want very low miles. Based on the research in the table, how much will you have to save for the car?B) $12,000A) $10,500C) $14,999D) $15,999
2422) Which example of productive resources is matched correctly? B) labor and rice fieldA) capital and oil rigC) capital and wheat fieldD) labor and risk-taker creating new product
2523) Jan is risk-averse, but wants to earn the best rate of return in less than two years. Which investment would MOST LIKELY meet Jan's need?B)Bond-Based Mutual FundsA)Savings AccountsC)Certificates of DepositD)Stock-Based Mutual Funds
2624) All of the following would cause a shift to the left of the aggregate demand curve EXCEPT for B) increased money supplyA)an increase in taxes.D)declining consumer spendingC)reduction in exports.
2725) In the graph, what happened to the equilibrium price when the supply curve moved from S1 to S2?. B) The equilibrium price went upA) It did not changeC) The equilibrium price went downD) It indicated a decrease in demand
2826) Country X can produce 1,000 units of food and 2,000 units of clothes. Country Y can produce 1,000 units of food and 1,000 units of clothes. In order to maximize trade according to the principles of comparative advantage,B)country Y should produce food and import clothes from country XA)country X should produce food and import clothes from country YD)country Y should produce both food and clothes, and import additional clothes from country XC) country X and Y should produce both food and clothes to meet their own needs
2927) The economy of Argentina is dependent upon the exportation of vegetation grown in the Pampas, one of the largest fertile plains in the world. Based on the information on this map, which statement about economic activity is correct?.B) Argentina has limited access to natural resource.A) Argentina has limited access to human resources.D) Argentina has access to both human and capital resources.C) Argentina has access to both natural and human resources
3028) In relation to the Indian Rupee, the Canadian dollar. A) is worth slightly moreB) is worth slightly lessC) is worth significantly more.D) is worth significantly less.
3129) Based on the U.S. Census information in the graph, A) educational attainment has an inverse relationship to annual earnings.B) annual earnings are not impacted by educational attainment.C) all workers with higher educational attainment have higher annual earnings..D) annual earnings have a generally positive correlation with educational attainment
3230) At which price does quantity demanded equal quantity supplied? B) $.64 per poundA) $.75 per poundD) 600 thousand poundsC) 500 thousand pounds
3331) This map is depicting which international economic organization? B) OPECA) EUD) OASC) NAFTA
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