Economics EOY Unit 3 and 4

What is a credit score primarily used to determine?

• Annual income level

• Employment history

• Creditworthiness

• Educational background

Which factor has the highest impact on your credit score?

• Number of credit accounts

• Payment history

• Length of credit history

• Credit mix

In a sole proprietorship, who bears unlimited liability for business debts?

• Shareholders

• Board of directors

• Business partners

• The owner

What type of bank account typically offers the highest interest rate?

• Checking account

• Certificate of deposit

• Regular savings account

• Money market account

GDP per capita is calculated by:

• Total GDP minus population

• GDP divided by total population

• Total exports minus imports

• National income plus taxes

Which business structure requires the most complex tax filing?

• Corporation

• Sole proprietorship

• Partnership

• LLC

The unemployment rate measures:

• Those who have stopped looking for work

• Those actively seeking employment

• Those who are retired

• Those who are self-employed

What is typically NOT a factor in calculating credit scores?

• Annual salary

• Credit utilization

• Payment history

• Length of credit history

A partnership business structure is characterized by:

• Limited liability protection

• Shared ownership and profits

• Single owner operation

• Public stock offerings

Which account type typically requires the highest minimum balance?

• Business checking account

• Student savings account

• Basic checking account

• Investment account