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