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