Alexis

1. When the government attempts to cover large deficits by creating more money, what is the probable result called? (1 point)government borrowing

hyperinflation

excess currency

full employment

2. What is one of the major problems caused by a large national debt? (1 point)It does not allow small investments by private individuals.

It makes it hard for the government to carry on activities.

It makes it difficult for the country to operate internationally.

It decreases the amount of money available to be borrowed by businesses.

3. What was the state of the federal budget at the start of the twenty-first century? (1 point)surpluses for the first time in 30 years

large surpluses for the last 10 years

minor deficit spending for the first time in 10 years

balanced spending for the last 10 years

4. What can be expected when members of the baby boom generation begin to retire in large numbers? (1 point)increased gross domestic product

decreased interest paid

increased deficits

decreased services

5. What is a major argument against a constitutional amendment requiring a balanced budget? (1 point)It would be hard to monitor.

It would be too unpopular.

It would be difficult to obey.

It would be too inflexible.

6. The federal budget process begins with (1 point)appropriations bills.

federal agency estimates.

Congress.

the Congressional Budget Office.

7. Which of the following might be part of an expansionary policy? (1 point)increased taxes

a tax cut

lower government spending

mandatory spending

8. Classical economics states that (1 point)markets should be allowed to regulate themselves.

government should spend in a recession.

government should cut taxes in a recession.

government should raise taxes in a recession.

9. The main idea of the multiplier effect is that (1 point)government should create new money to put an end to infaltion.

every dollar the government spends creates a greater than one dollar change in economic output.

taxes generally mutiply each year and create a greater deficit.

as the economy grows, more jobs are created.

10. The national debt is (1 point)all the money individuals owe on their credit cards.

the interest the government pays on bonds.

the total amount of money the federal government owes.

the same as a budget deficit.

1. A nonmanual marker is a sign you do with your hands. (1 point)

true

false

2. The following are used in place of punctuation in ASL: (1 point)

body movements

facial expressions

head tilting

all of the above

3. A suffix is added to the beginning of a word. (1 point)

true

false

4. Using the sign for PAST is the way to add –ed to a signed word in ASL. (1 point)

true

false

5. What type of sentence are you signing when your head is nodding while signing? (1 point)

question

statement

negative

1. What percentage of all businesses are partnerships? (1 point)

2 percent

7 percent

15 percent

25 percent

2. What is a major advantage of a business that is a partnership rather than a sole proprietorship? (1 point)

The responsibility for the business is shared.

The business is easy to start up.

The partners are not responsible for the business debts.

The business is easy to sell.

3. What is the difference between a limited partnership and a limited liability partnership? (1 point)

In a limited partnership, every partner is responsible for the company's actions.

In a limited partnership, partners cannot lose the money they have invested.

In a limited liability partnership, only one partner manages the business.

In a limited liability partnership, all partners are limited from liability in some situations.

4. What are assets? (1 point)

suits against a partnership

absolute control over a company

money and other valuables

taxes that apply to a partnership

5. How is a general partnership organized? (1 point)

Every partner shares equally in both responsibility and liability.

The doctors, lawyers, or accountants who form a general partnership hire others to run the partnership.

No partner is responsible for the debts of the partnership beyond his or her investment.

Only one partner is responsible for the debts of the partnership.