Answers38012de2 CONNECTED Summer T1 2026 Financial Math - S2World Economics

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In 1983, a microwave oven cost $78.75. Today, a microwave oven costs $92.66. If the CPI is 177, what is the relation of the actual price of a microwave oven to the expected price, to the nearest cent?

A
The actual price is $46.73 lower than the expected price.
B
The actual price is $5.59 lower than the expected price.
C
The actual price is $13.91 higher than the expected price.
D
The actual price is $71.35 higher than the expected price.
2
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A store’s supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans?

Question illustration
A
$4,500
B
$1,800
C
$1,200
D
$900
3

The following chart shows a store’s coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of jackets. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.)

Question illustration
A
Sales of jackets increased 3.6 percentage points faster than total coat sales.
B
Sales of jackets increased 18.8 percentage points faster than total coat sales.
C
Total coat sales increased 8.1 percentage points faster than sales of jackets.
D
Total coat sales increased 24.5 percentage points faster than sales of jackets.
4

Atlanta, GA has a CPI of 168. Seattle, WA has a CPI of 204. How does the purchasing power of an Atlanta resident earning a $32,800 salary compare to the purchasing power of a Seattle resident earning a $46,400 salary?a.The Atlanta resident has $34.46/CPI more than the Seattle resident.b.The Atlanta resident has $83.20/CPI more than the Seattle resident.c.The Seattle resident has $48.74/CPI more than the Atlanta resident.d.The Seattle resident has $32.21/CPI more than the Atlanta resident.

A
Option
B
Option
C
Option
D
Option
5

Item

A
Option
B
Option
C
Option
D
Option
6

Enzel goes online to buy a graphing calculator. He finds a site that currently has a promotion of 15% off on all orders over $50. Enzel decides to buy his graphing calculator, with a price tag of $83, at this site because he knows that he will get the 15% discount when he checks out. Enzel pays 4.5% sales tax on the discounted price and pays a shipping fee of $6.35. What is the total of Enzel’s online purchase?

A
$80.07
B
$80.36
C
$86.74
D
$93.09
7

Which of the following is not one of the eight recognized consumer rights?a.right to safetyb.right to choosec.right to be heardd.right to dignity

A
Option
B
Option
C
Option
D
Option
8

Using the above supply/demand graph, what is the price at the point of equilibrium? a. 105 b. 100 c. 95 d. 80 Please select the best answer from the choices provided

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A
Option
B
Option
C
Option
D
Option
9

In 1983, a cast-iron pan cost $28.35. Today, a cast-iron pan costs $52.95. If the CPI is 166, what is the percent relation of the actual price of a cast-iron pan to the expected price?a.The actual price is 11.1% lower than the expected price.b.The actual price is 20.8% lower than the expected price.c.The actual price is 31.5% higher than the expected price.d.The actual price is 12.5% higher than the expected price.

A
Option
B
Option
C
Option
D
Option
10

Suppose that Ireland has placed a tariff of 12% on its exports and a tariff of 21% on its imports. If Ireland has tariff revenue worth (equivalent US dollars) $9,148,200 and a balance of trade of $7,100,000, what are its exports and imports worth?

A
$950,416 in imports, $8,050,416 in exports
B
$3,145,984 in imports, $10,245,984 in exports
C
$1,921,122 in imports, $9,021,122 in exports
D
$25,140,000 in imports, $32,240,000 in exports
11

Which of the following terms best applies to a reversal of economic output which occurs just before a period of new economic growth?

A
boom
B
expansion
C
recovery
D
recession
12

Country of Origin

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A
A
B
B
C
C
D
D
13

The figure above shows a store’s supply-demand graph for lawn chairs. If the store makes $800 by selling lawn chairs, which of the following is a possible valid price for them?

Question illustration
A
$50
B
$40
C
$25
D
$20
14

A raincoat costs $79.25 today. If a similar raincoat cost $52.48 in 1983, what is the CPI?

A
166
B
151
C
132
D
127
15

What is inflation?

A
unemployment and the subsequent loss of production
B
a slow, steady raise in average wages
C
an increase in taxes
D
a devaluing of money, resulting in a loss of purchasing power
16

The following chart shows a store’s coat sales for two years. Identify the percent increase in total sales and the percent increase in sales of jackets. Then find which percent of increase is greater and by how much greater it is than the other. (Round your answer to the nearest tenth.) a. Sales of jackets increased 3.6 percentage points faster than total coat sales. b. Sales of jackets increased 18.8 percentage points faster than total coat sales. c. Total coat sales increase

Question illustration
A
Option
B
Option
C
Option
D
Option
17

A store’s supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans? a. $4,500 b. $1,800 c. $1,200 d. $900 Please select the best answer from the choices provided

Question illustration
A
Option
B
Option
C
Option
D
Option
18

The book store is having a sale where all hardcover books are 20% off. Jamie also has a coupon for 15% off any fiction book. Jamie buys a hardcover fiction book that is priced $32.99. How much will Jamie save by buying the book on sale and using the coupon?

A
$10.56
B
$11.55
C
$13.20
D
$19.79
19

I.

A
Option
B
Option
C
Option
D
Option
20

Manny makes the following purchases at the store:pair of jeans for $32.653 t-shirts for $14.89 eachpair of sneakers for $39.99The store is having a promotional sale where 10% is taken off of each customer’s total purchase before tax. The sales tax is 8%. If Manny paid $114.03 , then he _____ for his purchase.

A
paid $5.63 too little
B
paid $3.28 too little
C
paid the correct amount
D
paid $8.45 too much

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