1. At an ice cream parlor, you choose vanilla ice cream instead of orange sherbet. Which statement best describes the opportunity cost of this choice?(1 point)
Responses
You will have less money than before.
You will have less money than before.
You will not be able to eat orange sherbet.
You will not be able to eat orange sherbet.
You will be able to eat vanilla ice cream.
You will be able to eat vanilla ice cream.
You will avoid being hungry.
You will avoid being hungry.
Question 2
2. If a town wants to increase its greenspaces, what type of public space would it install?(1 point)
Responses
store
store
theater
theater
marina
marina
park
park
Question 3
3. What is an advantage of specialization for workers?(1 point)
Responses
The chance to take responsibility.
The chance to take responsibility.
A strong sense of purpose.
A strong sense of purpose.
Increased wages and buying power.
Increased wages and buying power.
Opportunities for advancement.
Opportunities for advancement.
Question 4
4. Which of the following is NOT a top U.S. import?(1 point)
Responses
computers
computers
phones
phones
corn
corn
cars
cars
Question 5
5. Which of the following statements incorrectly represents trade interdependence in the American auto industry?(1 point)
Responses
The American auto industry produces all its cars and parts domestically to ensure high quality and support local jobs.
The American auto industry produces all its cars and parts domestically to ensure high quality and support local jobs.
The American auto industry relies on other countries to make certain car parts and ship them back to the U.S. because labor costs are cheaper in those countries.
The American auto industry relies on other countries to make certain car parts and ship them back to the U.S. because labor costs are cheaper in those countries.
The American auto industry does not produce any cars domestically.
The American auto industry does not produce any cars domestically.
The American auto industry primarily exports its car parts to other countries in order to make bigger profits.
The American auto industry primarily exports its car parts to other countries in order to make bigger profits.
Question 6
6. Which of the following is one of the benefits of globalization?(1 point)
Responses
Increased competition between countries leading to higher prices for goods and services.
Increased competition between countries leading to higher prices for goods and services.
Limited access to different cultures and traditions from around the world.
Limited access to different cultures and traditions from around the world.
Technology allows for increased understanding and the spread of ideas between cultures.
Technology allows for increased understanding and the spread of ideas between cultures.
Decreased availability of products from foreign countries in local markets.