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