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