The forces of supply and demand help set the international value of the U.S. dollar. Analyze the graph. What does the data reveal about the value of the dollar over time?
The data reveals that the value of the US dollar increases until around 2003 where it starts to decrease in value. After 2003, the value decreases the...
15
Name a governmental regulatory agency, and describe its purpose in relation to consumers.
A governmental regulatory agency is the FDA (Food and Drug Administration). Its purpose in relation to consumers is to protect their safety and make s...
15
Which of the following statements best explains why workers began to form unions?A. A united workforce was more likely to bring about changes in the workplace.B. A well-organized system of workers was more likely to maximize profi...
A. A united workforce was more likely to bring about changes in the workplace.
15
Which statement is the best explanation of the market theory of wage determination?A. Management tends to pay a lower wage to workers who support unions.B. A worker's pay rate is set by supply of and demand for that worker's skill...
B. A worker's pay rate is set by supply of and demand for that worker's skills.
15
Which market structure is defined by a single producer?A. pure competitionB. monopolistic competitionC. oligopolyD. monopoly
D. monopoly
15
Which of the following can cause market failure?A. too much mobilityB. too much competitionC. not enough informationD. too much information
C. not enough information
15
What level of government is most closely associated with zoning?A. federalB. interstateC. stateD. local
D. local
15
Which of the following is an accurate statement about minimum wage laws in the United States?A. The minimum wage is adjusted by law every five years.B. The minimum wage is the same in all parts of the country.C. Some states have e...
D. Some states have established a higher-than-federal minimum wage.
15
What do externalities indicate?A. public goodsB. a market failureC. a lack of informationD. resource immobility
B. a market failure
15
Which activity is illegal in a state with a right-to-work law?A. joining a unionB. denying any qualified worker a jobC. requiring a higher hourly rate for overtime hoursD. requiring union membership as a condition of employment
D. requiring union membership as a condition of employment
15
Which of the following phrases best defines the term limited partnership?A. an organization that limits liability to the corporation rather than the individual ownersB.a partnership in which at least one partner has less responsib...
B.a partnership in which at least one partner has less responsibility in the business operations and less liability for business losses
15
How does inflation affect the minimum wage?A. It increases the buying power of the wage.B. It decreases the buying power of the wage.C. It creates a conversion of the wage from current dollars to constant dollars.D. It creates a c...
B. It decreases the buying power of the wage.
15
When a union negotiates pay and other job-related matters, this is calledA. collective bargaining.B. going on strike.C. cooperative bargaining.D. accessing resources.
A. collective bargaining.
15
A credit union is an example of aA. service cooperative.B. conglomerate.C. producer cooperative.D. consumer cooperative.
A. service cooperative.
15
Which is an example of a public good?A. a rock bandB. a carC. the armyD. bread
C. the army
15
The Sherman Act, the Clayton Act, and the Federal Trade Commission Act were all designed toA. ensure competition.B. promote trusts.C. create public goods.D. extend mortgages
