1). A tax that takes higher proportion from a low-income person than a rich person is known as a/an __ tax?
a). proportional
b). regressive
c). progressive
d). estate

2). Which of the following is an external factor that helps create the business cycle?
a). Government spending
b).Consumer spending
c). Bad weather
d). Psychological factors

4). Which of the following is an advantage of investing in a mutual fund?
a). Guaranteed profit
b). No risk
c). Investments are made in only one company
d). Professional management

6). A characteristic of a natural monopoly is that
a). adding businesses in competition would increase cost to the consumer
b). the firm is supported by the consumer and voted into existence by the voters
c). the firm is dedicated to the use of natural resources
d). there's no government intervention in the market

7). How could the government fight inflation?
a). raise taxes
b). lower taxes
c). add more unemployment insurance
d). increase spending

12). A merger between a company and one of its suppliers is known as a ___ merger?
a). vertical
b). supply
c). demand
d). horizontal

15). A tax levied on inherited money is known as a/an __ tax?
a). excise
b). sales
c). estate
d). death

19). Each worker doing a small part of the overall manufacturing process is known as?
a). specialization
b). interchangeable parts
c). automation
d). appreciation

20). Which of the following is a reason for the growth of federal government spending?
a). less demand for services
b). growing population
c). shrinking population
d). deflation



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