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Test 1 - industries Correct Answer mixed market Question 6...

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Question 1 1 out of 1 points The U.S. Postal Service, museums, and almost all colleges and universities are not-for-profit organizations. Correct Answer: True Question 2 1 out of 1 points ________ involve(s) planning, organizing, staffing, directing, and controlling a company's resources so that it can achieve its goals. Correct Answer: Management Question 3 1 out of 1 points A ________ accountant prepares information, such as reports on the cost of materials used in the production process, for internal use only. Correct Answer: managerial Question 4 1 out of 1 points Generally speaking, workers in socialist economies (such as those of France and Sweden) work ________ hours and have ________ vacations. Correct Answer: fewer / longer Question 5 1 out of 1 points In a ________ economy, the government controls selected major industries, such as transportation and health care, while allowing individual ownership of other
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Unformatted text preview: industries. Correct Answer: mixed market Question 6 1 out of 1 points Which of the following question(s) does an economist attempt to answer? Correct Answer: How should goods and services be produced? Question 7 1 out of 1 points Under ________ competition, many sellers sell differentiated products that serve similar purposes. Correct Answer: monopolistic Question 8 1 out of 1 points Because they operate in a(n) ________ industry, a fare decrease at American Airlines will likely result in decreases at Continental, United, and other carriers. Correct Answer: oligopolistic Question 9 1 out of 1 points The United States federal government influences economic activity by two means, including ________. Correct Answer: fiscal policy Question 10 1 out of 1 points The U.S. government uses ________ policy regulate the money supply and interest rates. Correct Answer: monetary...
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