NYSTCE Social Studies Economics
Exam Questions & Answers (Grade
A+)
Sherman Antitrust Act (1890) -
correct answer ✅allows the government to break up companies
with control of a market; prevents monopolies
Clayton Antitrust Act (1914) -
correct answer ✅prohibited price discrimination
Robinson-Patman Act (1936) -
correct answer ✅makes it unlawful to discriminate in prices
charged to different purchasers of the same product, where the
effect may substantially lessen competition or help to create a
monopoly
Federal Trade Commission Act (1914) -
correct answer ✅Established the Federal Trade Commission to
monitor business practices, false advertising, and dishonest labeling
Marketing Plan -
correct answer ✅Product, Price, Place, Promotion
, NYSTCE Social Studies Economics
Exam Questions & Answers (Grade
A+)
frictional unemployment -
correct answer ✅unemployment that occurs when people take
time to find a job
structural unemployment -
correct answer ✅When economic shifts reduce the need for
workers
cyclical unemployment -
correct answer ✅unemployment caused by a business cycle
recession
seaonal unemployment -
correct answer ✅When seasonal cycles reduce the need for
certain jobs
technological unemployment -
correct answer ✅unemployment caused by technological
developments or automation that make some workers' skills
obsolete
Exam Questions & Answers (Grade
A+)
Sherman Antitrust Act (1890) -
correct answer ✅allows the government to break up companies
with control of a market; prevents monopolies
Clayton Antitrust Act (1914) -
correct answer ✅prohibited price discrimination
Robinson-Patman Act (1936) -
correct answer ✅makes it unlawful to discriminate in prices
charged to different purchasers of the same product, where the
effect may substantially lessen competition or help to create a
monopoly
Federal Trade Commission Act (1914) -
correct answer ✅Established the Federal Trade Commission to
monitor business practices, false advertising, and dishonest labeling
Marketing Plan -
correct answer ✅Product, Price, Place, Promotion
, NYSTCE Social Studies Economics
Exam Questions & Answers (Grade
A+)
frictional unemployment -
correct answer ✅unemployment that occurs when people take
time to find a job
structural unemployment -
correct answer ✅When economic shifts reduce the need for
workers
cyclical unemployment -
correct answer ✅unemployment caused by a business cycle
recession
seaonal unemployment -
correct answer ✅When seasonal cycles reduce the need for
certain jobs
technological unemployment -
correct answer ✅unemployment caused by technological
developments or automation that make some workers' skills
obsolete
