Benchmark 3 Review Quiz

What is the Federal Reserve aka FED's main concern?

• Unemployment

• Inflation

• GDP

• Happiness

In which economic system are the factors of production owned and controlled by the government?

• Traditional

• Market

• Mixed

• Command

Which market is the MOST competitive?

• Oligopoly

• Monopoly

• Perfect Competition

• Monopolistic Competition

Which of the following investments would be the LEAST risky?

• NFT

• Cryptocurrency

• 401K

• Stocks

When borrowing money or getting a credit card what is the most important factor?

• APR

• GPB

• NYC

• YKK

Which of the following is NOT one of the basic economic questions?

• What to produce

• How to produce

• For whom to produce

• Why to produce

Sally was laid off from her tech job after the economic downturn following a global pandemic. What type of unemployment is she experiencing?

• Structural

• Cyclical

• Frictional

• Seasonal

What type of tax is America's Federal Income Tax?

• Regressive

• Flat

• Progressive

• Intensive

When a country imports more than it exports it has a?

• Trade Surplus

• Balance of Trade

• Trade Deficit

• Trade Barrier

Assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality are all part of your?

• Effectiveness

• Human Capital

• Work Ethic

• Ingenuity