Exam (elaborations)
GACE PRACTICE TEST QUESTIONS AND ANSWERS GRADED A+
- Course
- Institution
Exam of 25 pages for the course GACE at GACE (GACE PRACTICE TEST)
[Show more]
Content preview
GACE PRACTICE TEST1. A command economy is characterized by:
a. A laissez-faire approach by the government
b. A moderate amount of government intervention in the economy
c. Businesses commanding all aspects of the economy
d. The government controlling prices and production – answer D
2. Which of the following is not a responsibility of the Securities and Exchange
Commission (SEC)?
a. Regulating securities
b. Investigating insider trading
c. Setting interest rates
d. Processing applications for initial public offerings (IPOS) - answerC
3. In marketing, the demand for a product is directly influenced by:
a. Customers' desire for a product
b. Customers' ability to obtain a product
c. Availability of a product
d. Both A andB - answerD
4. The Sarbanes-Oxley Act of 2002:
a. Vastly reduced the financial reporting obligations that corporations face
b. Deregulated public utilities
c. Was intended to fight corporate and accounting fraud
d. Reduced tariffs on trade among North American countries - answerC
,5. An employee earns $2,000.00 per month in gross pay, but pays 9% in federal taxes,
3% for state taxes, and 2% for local taxes. After tax, the company withholds $104.36 for
health insurance. What is the employee's net pay?
a. $2,000.00
b. $1,615.64
c. $1,820.00
d. $1,720.00 - answerB
6. A market in which product availability exceeds demand is called
a: a. Free market
b. Seller's market
c. Buyer's market
d. Black market - answerC
7. Which of the following is not a part of Maslow's hierarchy of needs?
a. Self-actualization
b. Esteem
c. Safety
d. Supply and demand - answerD
8. Which of the following countries is not part of NAFTA?
a. Mexico
b. United States
c. Canada
d. China - answerD
9. A consumer's credit score is directly influenced by which of the following factors?
a. Debt repayment history
, b. Employment history over the last five years
c. Marital status
d. Income level - answerA
10. Upon which organization does the international community primarily rely to deal with
claims of unfair protectionism by one country against another?
a. North Atlantic Treaty Organization (NATO)
b. World Trade Organization (WTO)
c. Organization of Petroleum Exporting Countries (OPEC)
d. International Red Cross (IRC) - answerB
11. A homeowner is attempting to choose between several mortgage loans for a
$200,000 home. Which of the following would have the lowest monthly payment?
a. A 30-year fixed rate mortgage at 6%
b. A 15-year fixed rate mortgage at 7%
c. A 30-year fixed rate mortgage at 12%
d. A 15-year fixed rate mortgage at 12% - answerA
12. The biggest factor that leads American companies to manufacture their products
overseas in developing countries like China and India is:
a. Higher quality of craftsmanship
b. Lower labor costs
c. Decreased transportation costs
d. Effective leal systems - answerB
13. Which of the following correctly summarizes the accounting equation for a sole
proprietorship?
a. Assets = Liabilities + Owners' equity
b. Liabilities = Assets + Owners' equity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now