U.S. membership in the World Trade Organization has had which of these effects? It has resulted in a steady growth in international trade. It has reversed the decades-long trend towards outsourcing. It has made the U.S. economy more vulnerable to recessions. It has made a significant contribution to the U.S. national debt
When the economy is shrinking, total output is _____ and total income is _____. increasing, decreasing increasing, increasing decreasing, decreasing
When a cabinet member makes a recommendation to the president, the president is required by the constitution to implement the recommendation is required by law to implement the recommendation has no obligation to follow their guidance can be impeached if he does not follow their guidance?
To demonstrate malleability, you must be willing to ______. a. follow directions b. track your goals c. work more than others d. take on new responsibilities
What types of records are best kept in safe deposit boxes? Credit card bills Budgets Cash flow statements Valuable records like marriage records or stock certificates
When bonds are retired at maturity, ________. the carrying value always equals the face value the carrying value equals the face value plus the unamortized premium or less the unamortized discount the entry to retire the bonds may include a gain or loss on retirement of bonds the bondholders are paid the face value plus the unamortized premium or less the unamortized discount?
One of the most common causes of fires in the home and workplace is: A. All of the above B. Arson C. Candle D. Faulty electricity
Which statement or statements apply to a bond which is selling at a premium? I. The market value exceeds the par value. II. The selling rate is above 100. III. It is sold by corporations, not by the government. a. I and II b. I only c. III only d. I, II, and III
Select the items that describe incentives.can be rewards or penaltiesinfluence future actionsencourage people to actcan be monetary or non-monetary
To protect consumers, the SEC requires brokers and dealers to information about securities. True or False
About what percent of arson fires are set by individuals under 18? less than one percent twenty percent fifty percent eighty percent criminology
Which of the following would be considered company benefits? A. payments for overtime work B. payments for company events C. payments for unemployment insurance D. payments for health insurance
Which of the following is a tax incentive? A.a tax on imported goods B.a set amount that you subtract from your gross income for yourself and any dependents C.taking tax payments out of an employee’s pay before he or she receives it D.the use of taxation to encourage or discourage certain behaviors
Which of these does not fall under the "marketplace" umbrella? 1. stock market 2. e-commerce 3. physical places of business 4. taxation
Which market structure has a single company or seller in a market with many barriers to entry? A. Oligopoly B. Perfect competition C. Monopoly D. Monopolistic competition
1. When John received his W2, he received several copies. Why was he sent multiple copies of this form? I do not know John gets 2 copies because this is a W-2. He would get 4 copies of a W-4 The government always prints multiple copies of forms The different copies are for John and each tax return he may file 2. Who sent John this W-2? The Federal Government The Internal Revenue Service I do not know John's employer - ProperLiving Widget Engineering & Design 3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job) $31,878.71 I do not know $48,119.00 $42,417.88 4. How much did John 'take home' in net pay? (assuming this was John's only job) $42,417.88 I do not know $48,119.00 $31,878.71 5. How much did John save in his 401(k) in the 2014 tax year? $1,781.46 $1,217.39 I do not know $2,113.29 6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible? Yes No 7. John earned $2,500 as a life guard over the summer. This was his only job and income taxes were deducted from his paychecks by his employer. For filing a tax return, what should John do? John should file a tax return. He can then get all of his taxed money refunded. John should report this income on his parents tax return since he is still living at home. John should not file a tax return. John is legally not required to file because his income is less than the minimum requirement for filing. John should send a check for $50 to the IRS in case the employer didn't take out enough taxes. 8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest? 1) higher 2) lower 1) higher 2) higher 1) lower 2) higher 1) lower 2) lower 9. Which are tax deductible? Medical Bills totaling $200 All of the answers are correct None of the answers are correct Student loan payments 401k gains Community service hours
Which is an example of thinking at the margin? A. figuring out what you will give up and what you will gain by hiring a new worker B. thinking about whether or not to go on a vacation to a warm beach C. drawing plans to build an extra room on an old home D. deciding whether to have a dog or a cat as a pet
By nature, the home inspection business does not provide a. inspection reports to assist the client in making a buy or no-buy decision. b. both general and detailed information on homes and commercial properties. c. the client with a positive inspection report, omitting any negative findings. d. professional inspection services to help realtors sell property to their customers.
A way to reduce the disparities in wealth between the rich and poor is called a(n) ________. entitlement program tariff regressive tax policy policy of redistribution loophole
Which of these tax forms reports an employee's yearly Social Security tax withheld? A. W-2 B. W-4 C. W-5 D. W-1
Which of the following is influenced by personal economic choices? Check all that apply. 1.the cost of your rent and utilities 2.the resources you have available the amount of money you spend on a bus pass 3.the money you decide to spend on leisure products 4.the amount of money you put into your savings account 5.the manner in which you balance your time between work and leisure
The harm of stereotypes are likely to be aggravated in ________. a. Learning situations b. Conflict situations c. Living situations d. Realistic situations
The cost of coffee is determined by the type of coffee beans that are mixed together. The cost of a local mix of Arabica and Robusta beans is modeled by the equation below where A = the pounds of Arabica and R = pounds of Robusta. 700A + 1200R = 1,000,000 If a mixture contains 1000 pounds of Arabica beans, how many pounds of Robusta beans should be in the mixture? R = ________________
Which of the following is true? A. Checks are the most widely accepted form of payment B. Debit cards offer the highest level of fraud protection. C. Checks and Debit Cards both withdraw money directly from a bank account. D. Debit Cards often have a higher interest rate than Credit Cards.
Which of the following is an example of vertical integration? purchasing competitors purchasing suppliers informally agreeing on prices buying stock in competing companies
Which type of employment test cannot be studied for or practiced for in advance? a. A technical test b. A skills test c. A personality test d. A human resources test