Ch 3 Practice Test

____ 5. Which was a direct result of the 2002 tax incentives for film production? Louisiana lost a lot of tax revenue. b. One large production facility has been built in Louisiana. c. The film industry in Louisiana grew rapidly, and the state has become known as “Hollywood South.” d. Less than 300 films have been made since their adoption due to spending limits imposed on producers.

Read the passage and then answer the next question. Jillian receives $100 for her birthday. She really wants a new outfit. However, she does not have enough money to buy the pair of jeans and the sweater she wants. She decides to buy the jeans now and hope that she will get the sweater for Christmas. ____ 9. What was Jillian’s opportunity benefit? a. the jeans b. popularity c. the sweater d. one hundred dollars

____ 21. How is a rise in the Consumer Price Index (CPI) related to consumer buying power? a. A rise in the CPI increases consumer buying power. b. A rise in the CPI decreases consumer buying power. c. A rise in CPI does not affect consumer buying power. d. A rise in CPI only affects consumer buying power in regards to luxury items. Completion Complete each statement. 1. ______________________ is the idea that colonies existed to contribute to the wealth and power of the mother nation. 2. A cotton gin, oil refinery, and sugar refinery are all examples of _____________ resources.

LEAP Format Use the four sources and your knowledge of social studies to answer the questions.

1. Based on Source 3, which is the most valuable resource produced in Louisiana? a. cotton b. poultry c. shrimp d. timber 2. Based on Sources 2 and 3, which two statements are supported by the maps? a. most oil wells and refineries in Louisiana are in the northwestern part of the state b. Louisiana leads the south as the home of the most oil refineries in the nation c. none of the offshore oil rigs in the Gulf of Mexico are on the Louisiana coast d. hurricanes Katrina and Rita both hit Louisiana damaging oil refiners and offshore rigs e. the 13 oil refineries in Louisiana are located near land oil wells

4. Based on Sources 3 and 4, and your knowledge of social studies, use at least two economic terms listed in the word bank to explain how increased demand for oil will result in a severe decline in oil production throughout the state’s operating wells by the end of this century. WORD BANK: scarcity opportunity cost nonrenewable resource renewable resource benefit analysis