MODERN GEORGIA AND ECONOMICS

Which of the following sentences best describes why the interstate highway system was built?

• The federal government needed highways to make it easy for the military to move soldiers and vehicles.

• The federal government believed a national system of well-maintained roads was necessary as part of its defense program.

• The state constructed highways because the railroads were unable to meet growing economic demands.

• The state wanted a connected network of well-known routes to bring wheeled equipment to terminals.

Which of the following describes why the Hartsfield-Jackson Airport is vital to the state economy?

• The airport handles domestic and international flights of people and goods, as well as providing jobs for local residents.

• The airport reduces the costs of alternate transportation systems, such as the railroads and ports

• The airport is located in the center of Georgia, making it easy to access from any place in the state.

• The airport handles any cargo overflow that cannot be handled at either Savannah or Brunswick.

Why are deep water ports an important transportation system in Georgia?

• The ports allow both recreational and commercial ship liners to dock with passengers.

• The ports store containers of goods that are to be shipped along the Mississippi River.

• The ports make it possible for the state to participate in international business.

• The ports once helped make Georgia an important center of commercial sea traffic.

Which of the following sentences best describes Georgia’s economy?

• The state’s economy is dependent mostly on agriculture, followed by the entertainment and automotive industries.

• The state’s economy has a variety of different types of industries, which include manufacturing, technology, and agriculture.

• The state’s economy relies heavily on textile production, particularly from companies based in foreign markets.

• The state’s economy relies on tourism almost exclusively, as other industries have either declined or have moved overseas.

Which of the following are examples of entrepreneurship? Choose TWO of the following. Think about the definition of entrepreneur.

• A person invests his or her own money to develop a new kind of dog grooming tool.

• A small lumber mill manager decides to expand his or her work force by hiring more people

• A meat market owner buys a seafood market in the hope of being the only seller of fish.

• A utility company forms a cooperative with other companies to provide better service.

• A person who works at someone else’s bakery decides to open his or her own bakery.

Which of these is the best definition of a service industry?

• An industry focused on providing helpful benefits to people

• An industry focused on manufacturing a variety of products

• An industry focused on supporting entrepreneurs

• An industry focused on expanding agricultural markets

What is the first step in creating a budget?

• Calculate expected expenses

• Determine short term goals

• Calculate expected income

• Determine long term goals

Which of the following is true about borrowing money from a bank?

• Only the amount of the loan must be repaid

• The amount of the loan plus interest must be repaid

• There is no repayment necessary if unemployment occurs

• There is no benefit in repaying the loan quickly

Which of these categories are considered expenses in a budget? Choose three of the following.

• Money from selling

• Clothing purchases

• Weekly allowance

• Payments for phone

• Internet service fees

How does Georgia’s interstate highway system help Georgia businesses and manufacturers?

• It helps them avoid taxes on their products

• It lets them provide quality service to their clients.

• It allows them to supply their products to different regions.

• It reduces the cost of shipping goods out of state.