1. An important effect of economic growth is that it
   
   

Alowers living standards.

Bfights inflation. (Incorrect)

Clowers taxes.

Draises living standards.

1. The ¬¬_______ is an example of a regional trading bloc.
   
   

ARussian Federation

BWorld Trade Organization

CNorth Atlantic Treaty Organization

DEuropean Union

1. Why are savings important to economic growth?
   
   

AMoney spent doesn't grow the economy.

BSavings make American goods more attractive to foreign buyers.

CSavings are in place for a "rainy day."

DSavings are used to invest in new businesses.

1. What is a possible negative aspect of economic growth?
   
   

AIncreased standard of living

BIncreased trade

CIncreased population

DIncreased pollution

1. _______ employment is the result of a downturn in the economy and usually isn't permanent.
   
   

AFrictional

BStructural (incorrect)

CCyclical

DSituational

1. Demand for food doesn't change in response to a change in price. Why?
   
   

ADemand for food is elastic.

BPrices are set by the government.

CPeople never change their eating habits.

DDemand for food is inelastic.

1. Why are governmental services more expensive in cities compared to other areas?
   
   

ACities have a higher concentration of poor people.

BState government doesn't help cities.

CCities have more expensive tax rules than other areas.

DFederal government doesn't t help cities.

1. A reason to trade with other nations is that trade
   
   

Areduces the supply of goods and services.

Bforces consumers to buy goods and services at a higher cost.

Creduces demand for goods and services.

Dallows consumers to buy goods and services at a lower cost.

1. What's the likely result if the US dollar is valued lower than other nations' currencies?
   
   

AUnited States exports would be less attractive to foreign buyers.

BThe United States would need to raise tariffs.

CImports would be more expensive.

DNations would refuse to trade with the United States.

1. Which of the following is a way to reduce unemployment?
   
   

ATraining programs

BReduced government spending

CHigher taxes

DLower inflation

1. If The United States has proven supplies of natural gas in the ground, but France doesn't, the United States has what kind of advantage in terms of trade?
   
   

AAbsolute advantage

BPrice advantage

CComparative advantage

DNatural resource advantage

1. Which of the following factors is not a concern of regional planning organizations?
   
   

ALand use

BEconomic development

CWaste management

DGlobal trade agreements

1. What's a possible risk when more federal aid is given to cities?
   
   

ALess local control of the city

BMore money for public services

CHigher taxes in the states

DHigher taxes in the cities

1. Why would a large crop surplus be a problem for farmers?
   
   

ASurpluses drive up the price of agriculture equipment.

BSurpluses are destroyed by the government.

CSurpluses drive up prices.

DSurpluses drive down prices.

1. The price at which a nation's currency can be bought using another nation's currency is known as
   
   

Acurrency trade.

Bconsumer advantage.

Cthe rate of exchange.

Dglobalization.

1. Which group tends to experience poverty most often?
   
   

AMiddle-aged people

BRacial minorities

CWhite males

DElderly people

1. Advances in farm technology have led to what result for US agriculture?
   
   

AMore people working in agriculture than ever before

BNo change in productivity

CFarmers enjoying higher incomes than ever before

DGreatly increased productivity

1. Which of the following is a concern about globalization?
   
   

ALess variety in consumer goods

BLess jobs in exporting industries

CThe possibility of promoting child labor

DHigher prices for consumer goods

Please is you can just help me with this .. I already took the text and I didn't pass. and I need to pass this exam .