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AG Unit 8 FA Dummy 2

Authored by Adam Berkowicz

Social Studies

9th - 12th Grade

AG Unit 8 FA Dummy 2
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47 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a major U.S. trading partner experiences an economic crisis, the U.S. might:

Increase manufacturing jobs

Experience direct economic effects

Eliminate import quotas

Raise the minimum wage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A developing nation receiving a loan from the IMF is most likely seeking to:

Expand its military

Stabilize its economy

Fund political campaigns

Eliminate trade with neighbors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best definition of opportunity cost?

The total revenue from a business decision

The benefit gained from every alternative

The cost of all economic goods

The value of the next best alternative given up

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best illustrates opportunity cost?

Saving money in a piggy bank

Buying a coffee instead of saving the money

Looking at product reviews online

Comparing prices before shopping

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a government builds a road instead of a hospital, what is the opportunity cost?

The taxes used to pay for it

The construction company’s profits

The hospital that was not built

The time needed for construction

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is opportunity cost important in economics?

It determines the cost of taxes

It helps identify every possible outcome

It explains economic laws

It shows the value of what is given up

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A student chooses to study instead of going to a concert. What is the opportunity cost?

The price of concert tickets

The studying done during that time

The concert experience missed

The food eaten while studying

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