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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 underdeveloped
Ability to Pay and Benefits Received
The purchasing power of the dollar
Capitalism
2. Commitments & military expenditures have had lasting effects on the role of government in the economy.
Benefits Received
The US economy
Foreign policy
All civilized societies
3. And influence in our economy has steadily grown throughout history.
The underdeveloped
Capitalism
The Role of Government in the US Economy
The degree of gov. control
4. 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.
Educational & religious institutions
There are 4 basic universals of economics that are present in all types of economic organizations
The basis of economics is that society must make choices
Urbanization
5. 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
Capitalism
In our modern society -
The various types of taxes include
6. Is the monetary return or other material benefits from currently produced goods & services.
Economy
Urbanization
The underdeveloped
The major economic impact
7. 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
Restricted growth is the result of a combination of many factors.
All civilized societies
Benefits Received
Modern capitalism can be divided into basic sectors.
8. Is a theory that bases taxation in accordance with income and wealth position.
Restricted growth is the result of a combination of many factors.
Ability to Pay
The various types of taxes include
In our modern society -
9. ...see following cards.
Ability to Pay and Benefits Received
The various types of taxes include
Two - thirds
The Role of Government in the US Economy
10. Of government activity comes from its spending - taxing - and public debt policies.
Private ownership
The major economic impact
The Role of Government in the US Economy
There are 4 basic universals of economics that are present in all types of economic organizations
11. A competitive - free - market - free - price system is necessary for capitalism to function efficiently.
The major types of gov. activities
Ability to Pay
Capitalism
Urbanization
12. Has created problems in providing essential public services such as police and fire protection and sewage disposal.
The basis of economics is that society must make choices
There are 4 basic universals of economics that are present in all types of economic organizations
The major types of gov. activities
Urbanization
13. Provides a means of analyzing the economy.
The underdeveloped
Measuring economic variables
Foreign policy
The various types of taxes include
14. Of the world's population is economically deprived.
There are 4 basic universals of economics that are present in all types of economic organizations
The US economy
All civilized societies
Two - thirds
15. 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.
All civilized societies
The major types of gov. activities
The underdeveloped
The various types of taxes include
16. Based on concepts of modern capitalism.
The degree of gov. control
There are 4 basic universals of economics that are present in all types of economic organizations
Restricted growth is the result of a combination of many factors.
The US economy
17. People have simply demanded more of government.
Restricted growth is the result of a combination of many factors.
The underdeveloped
Benefits Received
In our modern society -
18. 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.
Political institutions
Restricted growth is the result of a combination of many factors.
Ability to Pay and Benefits Received
The basis of economics is that society must make choices
19. Fulfills primary & basic needs.
Measuring economic variables
Two - thirds
Restricted growth is the result of a combination of many factors.
The institution of the family
20. Is a measurement of assets on hand at a given point in time.
Wealth
Economy
Restricted growth is the result of a combination of many factors.
Ability to Pay
21. In the economy include direct controls over the economy - ownership of production (for example - Hoover Dam) - and welfare expenditures.
Modern capitalism can be divided into basic sectors.
Foreign policy
The major types of gov. activities
Two - thirds
22. Provide a method to analyze the goods & services in a society.
Ability to Pay
Political institutions
The basis of economics is that society must make choices
In our modern society -
23. 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.
The purchasing power of the dollar
Ability to Pay
There are 4 basic universals of economics that are present in all types of economic organizations
Restricted growth is the result of a combination of many factors.
24. Transmit the ideals & values of society.
Restricted growth is the result of a combination of many factors.
Capitalism
Educational & religious institutions
The major types of gov. activities
25. Areas of the world have shown limited economic growth.
Modern capitalism can be divided into basic sectors.
Political institutions
Industrialization
The underdeveloped
26. Has created problems in labor - management relations that government seems to be able to handle best.
The major economic impact
The US economy
Private ownership
Industrialization
27. Organized to fulfill basic social needs
The various types of taxes include
Foreign policy
All civilized societies
The underdeveloped
28. Is a theory that bases taxation in accordance with the benefits received by the taxpayer; hunting & fishing fees are examples.
The purchasing power of the dollar
The degree of gov. control
Benefits Received
Urbanization
29. Of property is fundamental to a capitalistic society.
Private ownership
Wealth
The US economy
The Role of Government in the US Economy
30. 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.
Benefits Received
Production
The various types of taxes include
All civilized societies