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
The correct answer is B- oligopoly. In an oligopoly, a few large companies dominate the market, which often leads to competition and innovation. Lower costs allow these companies to allocate more funds towards research and development, enhancing their ability to develop new products, technologies, and processes. This ultimately benefits the economy by encouraging growth, job creation, and technological advancement. The other options (A- stock market, C- monopoly, and D- bank) are not directly related to the scenario described.
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
The correct answer is B- Federal Reserve System. The Federal Reserve System is responsible for regulating and supervising banks in the United States. One of its functions is to ensure that banks are treating customers fairly by enforcing consumer protection laws and regulations. The other options (A- Consumer Price Index, C- money markets, and D- tax collectors) are not directly related to enforcing fair treatment of customers by banks.
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
The two correct answers are:
C- a U.S. citizen producing goods in the United States
B- a citizen of Japan producing goods in the United States
The Gross Domestic Product (GDP) of a country represents the total value of goods and services produced within its borders, regardless of the nationality of the individuals involved. In this case, both options C and B involve individuals producing goods within the United States, which would contribute to the U.S. GDP. The other options (A- a U.S. citizen producing goods in Portugal, D- a citizen of Spain producing goods in Brazil, and E- a U.S. citizen producing goods in Canada) involve individuals producing goods outside the United States and thus would not directly contribute to the U.S. GDP.
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