AnswersHSA 26-27 EconomicsCharitable Organizations

Charitable Organizations — Unit test Answers

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1
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Which describes an example of the economic system known as free enterprise?

A
People are free to shop around for products, but manufacturers dictate what is available.
B
People are free to shop for the best price on products because there is open competition.
C
Government oversight of business gives people freedom to shop for the best deals.
D
Government regulations ensure that everyone has the freedom to shop for the best deals.
2
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Articles of partnership establish

h
how businesses can raise capital.
w
what business taxes are paid.
h
how profits and losses are divided.
w
what is included in a charter.
3

Which body manages the Fed?

t
the Appropriations Committee
t
the Federal Reserve Board
t
the Federal Open Markets Committee
t
the Economic Policy Subcommittee
4

After reading a website article, someone created an organization to protect people’s environmental rights. The organization works closely with corporations to maintain clean air and water for future generations. Fifty-one percent of the organization is funded by contributions and membership.

A
holding hiring fairs for corporate partners
B
conducting lectures on sustainable agriculture
C
having grand openings of aquariums
D
employing healthcare providers for infants
5

The development of many new businesses helps limit

u
unemployment.
t
taxation.
r
revenue.
r
risk.
6

What happens when a bank is required to hold more money in reserve?

A
It has less money for loans.
B
It has less money for operations.
C
It has less money for interest payments.
D
It has less money for withdrawals.
7

Expansionary spending takes place when a government makes the decision to

p
put a freeze on the number of its employees.
r
raise taxes to balance its budget.
r
raise taxes to run a budget surplus.
r
raise spending to stimulate the economy.
8

best

t
to reduce the number of responsibilities
t
to make it easier to raise funds for expansion
t
to move into a more favorable tax bracket.
t
to take advantage of little government oversight.
9

Which best describes a difference between the views of Milton Friedman and John Maynard Keynes on the economy?

A
Friedman said that monetary policy should be used to influence aggregate demand, while Keynes believed the best approach was fiscal policy.
B
Friedman said that fiscal policy should be used to influence aggregate demand, while Keynes believed the best approach was monetary policy.
C
Keynes believed in little government intervention in the economy, while Friedman said government should play an active role.
D
Keynes believed the economy was too complicated to think of aggregates, while Friedman said higher aggregate demand could solve issues.
10

Which best describes why governments collect taxes?

A
to control the value of currency
B
to keep the government running
C
to ensure surplus funds
D
to fund government programs
11

Successful entrepreneurs contribute to the economy by

b
becoming wealthy.
e
expanding markets.
e
encouraging free trade.
c
creating business strategies.
12

Why do people donate to charitable organizations? Choose three answers.to do what is right to support a causeto develop their skillsto earn college creditto spend time with friends

A
to do what is right
B
to support a cause
C
to develop their skills
D
to earn college credit
E
to spend time with friends
13

Which federal regulatory agency would most likely bring a civil suit against a business that broke securities laws?

t
the SEC
t
the FDA
O
OSHA
t
the FDIC
14

most likely

c
cooperatives give majority owners the most control, while franchises make decisions with a parent company.
c
cooperatives make it easy to accumulate supplies, while franchises come with supplier relationships already in place.
c
cooperatives are well financed by members, while franchises must raise large sums of money to launch a business.
c
cooperatives allow all owners to share profits, while franchises are required to share profits with a parent company.
15

Many classical economists such as Adam Smith believed that government should

i
intervene often in the economy.
i
intervene little in the economy.
a
always intervene in the economy.
t
totally control the economy.
16

Expansionary spending takes place when a government makes the decision to

A
put a freeze on the number of its employees.
B
raise taxes to balance its budget.
C
raise taxes to run a budget surplus.
D
raise spending to stimulate the economy.
17

Which services would a charitable organization provide? Choose three answers.preserving waterwaysoperating a city aquariumopening an animal shelterinventing a new pet feederowning a pet store franchise

A
preserving waterways
B
operating a city aquarium
C
opening an animal shelter
D
inventing a new pet feeder
E
owning a pet store franchise
18

Two doctors who join forces in business form a.

Answer not available
19

In which of the following ways do governments spend money to meet public needs? Check all that apply.by protecting the publicby arming the publicby providing health careby supporting educationby building roads and bridges

A
by protecting the public
B
by arming the public
C
by providing health care
D
by supporting education
E
by building roads and bridges
20

Which of these are goals of an expansionary policy? Check all that apply.increased available creditdecreased available creditincreased money supplyincreased inflationincreased interest ratesdecreased interest rates

A
increased available credit
B
decreased available credit
C
increased money supply
D
increased inflation
E
increased interest rates
F
decreased interest rates

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