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ARE YOU FINANCIALLY LITERATE? CHAPTERS 6-8
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19. An industry cluster is like a business _________________, because it attracts workers, suppliers, education and training, and businesses and services that support the cluster. a. club b. ecosystem c. association d. guild 20. All of these are benefits of an industry cluster , except: a. increased innovation b. effective collaboration through the exchange of ideas, knowledge,and expertise c. waiver of federal income taxes d. reliable supply chain due to the attraction of specialized suppliers e. specialized labor force and talent attracted to the cluster area 21. A cluster initiative is _________________: a. the attempt by local, state and national governments to attract and nurture the development of a business cluster through tax or other economic incentives. b. the effort by a group of businesses within a geographic area to force local governments to sponsor infrastructure improvements, such as power sub-stations and public transportation. c. called a Special Economic Zone in Malaysia. d. an antiquated 19th century means of encouraging the growth of local commerce. 22. Which is the most specific GICS classification of businesses? a. sector c. industry group b. industry d. sub-industry 23. You own a small but successful local wedding photography business. You want to expand your business to include videos of The Big Day, but you need to upgrade your equipment first. It’s expensive! Where can you get a business loan? a. investment bank c. both a and b b. commercial bank d. neither a nor b 24. Cluster maps are interactive tools you can to investigate such college and career path information as: a. the location of industries you may be interested in for your career b. average annual incomes by industry c. whether an industry is in a growth phase or in decline. d. all of the above PRODUCT PREVIEW
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151 THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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