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Test your basic knowledge |
CSET Economics
Start Test
Study First
Subjects
:
cset
,
economics
Instructions:
Answer 30 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Are the cornerstone of the US tax system.
The major types of gov. activities
Wealth
Ability to Pay and Benefits Received
Urbanization
2. Is a theory that bases taxation in accordance with the benefits received by the taxpayer; hunting & fishing fees are examples.
The degree of gov. control
Benefits Received
Private ownership
The major types of gov. activities
3. Has to do with its ability to command goods & services. Measuring changes in the value of the dollar is a key economic concept.
The purchasing power of the dollar
Two - thirds
Educational & religious institutions
There are 4 basic universals of economics that are present in all types of economic organizations
4. Fulfills primary & basic needs.
Educational & religious institutions
The institution of the family
Private ownership
The major types of gov. activities
5. ...see following cards.
The underdeveloped
Educational & religious institutions
The Role of Government in the US Economy
Wealth
6. Based on concepts of modern capitalism.
Educational & religious institutions
Measuring economic variables
Restricted growth is the result of a combination of many factors.
The US economy
7. And influence in our economy has steadily grown throughout history.
Urbanization
The degree of gov. control
Benefits Received
Production
8. Of property is fundamental to a capitalistic society.
Private ownership
The degree of gov. control
All civilized societies
Production
9. The quality of land - labor - & capital are key factors that determine economic growth. Less - developed countries usually have high population densities. Low incomes retard economies by restricting the opportunity to consume goods.
Two - thirds
Restricted growth is the result of a combination of many factors.
The various types of taxes include
The basis of economics is that society must make choices
10. How to allocate resources among competing & alternative uses. How to distribute goods & services among the population. How to provide economic stability & security. How to provide continued economic growth.
There are 4 basic universals of economics that are present in all types of economic organizations
The Role of Government in the US Economy
The major types of gov. activities
Wealth
11. Transmit the ideals & values of society.
Educational & religious institutions
Ability to Pay and Benefits Received
Industrialization
The US economy
12. Of the world's population is economically deprived.
Two - thirds
The major types of gov. activities
In our modern society -
The underdeveloped
13. People have simply demanded more of government.
The major types of gov. activities
Modern capitalism can be divided into basic sectors.
Production
In our modern society -
14. Of government activity comes from its spending - taxing - and public debt policies.
The purchasing power of the dollar
The major economic impact
The Role of Government in the US Economy
The degree of gov. control
15. Consumption: characterized by freedom of consumer choice. Production: characterized by freedom of enterprise. Financial: composed of all banking & financial institutions. Government: performs task of stabilizing the economy through monetary & fiscal
In our modern society -
The institution of the family
Private ownership
Modern capitalism can be divided into basic sectors.
16. A competitive - free - market - free - price system is necessary for capitalism to function efficiently.
Production
Educational & religious institutions
Capitalism
The various types of taxes include
17. Has created problems in labor - management relations that government seems to be able to handle best.
Industrialization
Restricted growth is the result of a combination of many factors.
Two - thirds
Private ownership
18. Is a source wealth & income & involves the inflow & outflow of goods and services. The economic growth of the US is measured by the Gross National Product (GNP) - which is the value of all goods & services produced in a particular year.
Production
Wealth
Two - thirds
The major economic impact
19. Has created problems in providing essential public services such as police and fire protection and sewage disposal.
Urbanization
In our modern society -
Modern capitalism can be divided into basic sectors.
The degree of gov. control
20. Organized to fulfill basic social needs
All civilized societies
Two - thirds
Benefits Received
The major types of gov. activities
21. Since ther are not enough resources to satisfy all wants - there is a conflict between unlimited wants & limited resources. Societal choice: what to produce - how to produce - & for whom to produce.
The US economy
Capitalism
The Role of Government in the US Economy
The basis of economics is that society must make choices
22. Provides a means of analyzing the economy.
Measuring economic variables
Urbanization
Wealth
There are 4 basic universals of economics that are present in all types of economic organizations
23. Is a theory that bases taxation in accordance with income and wealth position.
The major types of gov. activities
Educational & religious institutions
Ability to Pay
The degree of gov. control
24. In the economy include direct controls over the economy - ownership of production (for example - Hoover Dam) - and welfare expenditures.
Production
The major types of gov. activities
All civilized societies
The purchasing power of the dollar
25. Areas of the world have shown limited economic growth.
The degree of gov. control
The major economic impact
The underdeveloped
There are 4 basic universals of economics that are present in all types of economic organizations
26. Provide a method to analyze the goods & services in a society.
The US economy
Political institutions
Educational & religious institutions
Urbanization
27. Direct - indirect - proportional - progressive - and regressive. Federal personal & corporate taxes are progressive. Most state and local taxes are proportional. Nearly all excise - sales - and property taxes are regressive.
In our modern society -
Capitalism
Restricted growth is the result of a combination of many factors.
The various types of taxes include
28. Commitments & military expenditures have had lasting effects on the role of government in the economy.
There are 4 basic universals of economics that are present in all types of economic organizations
Foreign policy
Private ownership
All civilized societies
29. Is a measurement of assets on hand at a given point in time.
Wealth
The purchasing power of the dollar
Benefits Received
The institution of the family
30. Is the monetary return or other material benefits from currently produced goods & services.
There are 4 basic universals of economics that are present in all types of economic organizations
Urbanization
Industrialization
Economy