In the fall, the National Center for Educational Statistics will release the results of the first ever NAEP Economics assessment.
Test your knowledge of economics with these sample question from the assessment:
1. What is the first step labor unions take when negotiating contracts with employers?
A – Engage in collective bargaining
B – Start a plant lockout
C – Demand binding arbitration
D – Call for a strike
2. Which of the following strategies is generally considered an effective means of enhancing a country?s long-term economic growth?
A – Decreasing the money supply
B – Decreasing government spending
C – Increasing spending on education and training
D – Increasing the international value of the country?s currency
3. Trade restrictions, such as the imposition of import tariffs, usually result in higher product prices. Despite this increase, which of the following is often the primary economic motivation for a government to impose such restrictions?
A – The government is responding to help domestic producers.
B – The government is responding to help domestic consumers.
C – The government wants to increase the demand for products subject to the tariffs.
D – The government wants to raise revenue to pay for the tariffs.
Answers: 1-A, 2-C, 3-A
