What new law did President Biden propose in his July 20, 2022 speech, and how will it help the country?(1 point)

Question

Responses

The president proposed turning the power plant into a wind turbine manufacturing company.
The president proposed turning the power plant into a wind turbine manufacturing company.

The president proposed a new infrastructure law that would enable communities to open cooling centers and would help Americans replace home air conditioners.
The president proposed a new infrastructure law that would enable communities to open cooling centers and would help Americans replace home air conditioners.

The president proposed that people should set their thermostats at 80 degrees during the day to help reduce their carbon footprints.
The president proposed that people should set their thermostats at 80 degrees during the day to help reduce their carbon footprints.

The president proposed a new infrastructure law that would give Americans money to weatherize their homes and implement new workplace standards.
The president proposed a new infrastructure law that would give Americans money to weatherize their homes and implement new workplace standards.
Question 2
What are some of the factors that create political behaviors?(1 point)
Responses

The ability to meet with political leaders, ask questions, and share needs all create a person’s political behaviors.
The ability to meet with political leaders, ask questions, and share needs all create a person’s political behaviors.

Income, geography, access to information, and gender all create a person’s political behaviors.
Income, geography, access to information, and gender all create a person’s political behaviors.

Race, ethnicity, age, gender, disability, and socioeconomic factors all help create a person’s political behaviors.
Race, ethnicity, age, gender, disability, and socioeconomic factors all help create a person’s political behaviors.

There are no absolute defining factors that create a person’s political behaviors.
There are no absolute defining factors that create a person’s political behaviors.
Question 3
What is one recent impact caused by the decision of another nation's government? (1 point)
Responses

The rising gas prices in the US caused by China's desire to be a leader in Asia.
The rising gas prices in the US caused by China's desire to be a leader in Asia.

The supply chain issues caused by the UK's refusal to trade with the US.
The supply chain issues caused by the UK's refusal to trade with the US.

The wheat supply issue caused by Russia's invasion of Ukraine.
The wheat supply issue caused by Russia's invasion of Ukraine.

The rising gas prices caused by North Korea's invasion of South Korea.
The rising gas prices caused by North Korea's invasion of South Korea.
Question 4
Analyze the factors that influence distribution. Which of the following best identifies how distribution channels are chosen?(1 point)
Responses

Producers find the cheapest way to distribute goods and choose that channel.
Producers find the cheapest way to distribute goods and choose that channel.

Producers find the shortest way to distribute goods and choose that channel.
Producers find the shortest way to distribute goods and choose that channel.

Producers find the fastest way to distribute goods and choose that channel.
Producers find the fastest way to distribute goods and choose that channel.

Producers find the best way to reach the consumer and choose the channel that meets that need.
Producers find the best way to reach the consumer and choose the channel that meets that need.
Question 5
You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?(1 point)
Responses

This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.

This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.

This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.

The change in demand for dog walkers has caused a change in price because demand outweighs supply.
The change in demand for dog walkers has caused a change in price because demand outweighs supply.
Question 6
In 2021, President Biden directed the FDA to lower prices on generic prescriptions and to import medication from Canada. Which of the following best summarizes what factors went into the president’s cost-benefit analysis for this market?(1 point)
Responses

The president considered the cost for prescriptions in Mexico, the cost for prescriptions in Canada, and the benefits for Americans purchasing from both countries.
The president considered the cost for prescriptions in Mexico, the cost for prescriptions in Canada, and the benefits for Americans purchasing from both countries.

The president considered the cost for prescriptions in the U.S., the cost for prescriptions in Canada, and the benefits for Americans traveling across the border to see a physician.
The president considered the cost for prescriptions in the U.S., the cost for prescriptions in Canada, and the benefits for Americans traveling across the border to see a physician.

The president considered the cost for medical care in the U.S., the cost for prescriptions in Canada, and the benefits for Americans purchasing medicine from overseas.
The president considered the cost for medical care in the U.S., the cost for prescriptions in Canada, and the benefits for Americans purchasing medicine from overseas.

The president considered the cost for prescriptions in the U.S., the cost for prescriptions in Canada, and the benefits for Americans purchasing from both countries.
The president considered the cost for prescriptions in the U.S., the cost for prescriptions in Canada, and the benefits for Americans purchasing from both countries.
Question 7
What is the main goal of regulatory agencies?(1 point)
Responses

Regulatory agencies help make sure sellers are protected from harm by buyers.
Regulatory agencies help make sure sellers are protected from harm by buyers.

Regulatory agencies allow the president to make rules that they think are best for the American people.
Regulatory agencies allow the president to make rules that they think are best for the American people.

Regulatory agencies create rules and regulations that protect specific aspects of the market.
Regulatory agencies create rules and regulations that protect specific aspects of the market.

Regulatory agencies enable Congress to attend to other tasks besides making rules.
Regulatory agencies enable Congress to attend to other tasks besides making rules.
Question 8
Which of the following best explains how eminent domain affects property rights?(1 point)
Responses

Eminent domain means private citizens can take, with compensation, government property for private use.
Eminent domain means private citizens can take, with compensation, government property for private use.

Eminent domain means the government can take, with compensation, private property for public use.
Eminent domain means the government can take, with compensation, private property for public use.

Eminent domain means the government can take, with no compensation, private property for public use.
Eminent domain means the government can take, with no compensation, private property for public use.

Eminent domain means private citizens can take, with compensation, intellectual property for their own use.
Eminent domain means private citizens can take, with compensation, intellectual property for their own use.
Question 9
The federal government protects the people’s interests through its market economy regulations. What are some protections that it offers?(1 point)
Responses

Protections include ensuring enough money is available for fair wages for all private industry workers.
Protections include ensuring enough money is available for fair wages for all private industry workers.

Protections include keeping prices low and wages high so all citizens can have equal opportunities.
Protections include keeping prices low and wages high so all citizens can have equal opportunities.

Protections include ensuring all citizens have jobs, housing, and health care.
Protections include ensuring all citizens have jobs, housing, and health care.

Protections include keeping people safe and healthy, regulating labor and wages, and protecting the environment.
Protections include keeping people safe and healthy, regulating labor and wages, and protecting the environment.
Question 10
One of the limitations of the basic CPI is that it does not measure inflation well for groups that do not purchase the market basket used to calculate price changes. This limitation of the basic CPI is referred to by which of the following terms?(1 point)
Responses

the chained CPI problem
the chained CPI problem

the index number problem
the index number problem

the substitution effect problem
the substitution effect problem

the core CPI problem

Answer 1

Here are the best responses to each question based on the provided options:

Question 1 What new law did President Biden propose in his July 20, 2022 speech, and how will it help the country?

• The president proposed a new infrastructure law that would give Americans money to weatherize their homes and implement new workplace standards.

Question 2 What are some of the factors that create political behaviors?

• Race, ethnicity, age, gender, disability, and socioeconomic factors all help create a person’s political behaviors.

Question 3 What is one recent impact caused by the decision of another nation's government?

• The wheat supply issue caused by Russia's invasion of Ukraine.

Question 4 Analyze the factors that influence distribution. Which of the following best identifies how distribution channels are chosen?

• Producers find the best way to reach the consumer and choose the channel that meets that need.

Question 5 You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?

• The change in demand for dog walkers has caused a change in price because demand outweighs supply.

Question 6 In 2021, President Biden directed the FDA to lower prices on generic prescriptions and to import medication from Canada. Which of the following best summarizes what factors went into the president’s cost-benefit analysis for this market?

• The president considered the cost for prescriptions in the U.S., the cost for prescriptions in Canada, and the benefits for Americans purchasing medicine from overseas.

Question 7 What is the main goal of regulatory agencies?

• Regulatory agencies create rules and regulations that protect specific aspects of the market.

Question 8 Which of the following best explains how eminent domain affects property rights?

• Eminent domain means the government can take, with compensation, private property for public use.

Question 9 The federal government protects the people’s interests through its market economy regulations. What are some protections that it offers?

• Protections include keeping people safe and healthy, regulating labor and wages, and protecting the environment.

Question 10 One of the limitations of the basic CPI is that it does not measure inflation well for groups that do not purchase the market basket used to calculate price changes. This limitation of the basic CPI is referred to by which of the following terms?

• the substitution effect problem.

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