Question 1

Economics is the study of the production and distribution of scarce goods and services.

Accepted Answer

A) True 
 B)False

Question 2

Keynesian economic theory advocates using fiscal policy, the combination of tax policy and spending policy to ensure a healthy economy.

Accepted Answer

A) True 
 B)False

Question 3

Most federal revenues come from the taxes that businesses pay.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not true of trade with other nations?

Accepted Answer

A)  Competition abroad cuts costs and improves quality of goods produced in the United States. 
B)  Trade quickens the flow of ideas and technology. 
C)  Trade expands the menu of goods and services available to trading countries. 
D)  Trade is directly responsible for job loss and unemployment. 
A)  Competition abroad cuts costs and improves quality of goods produced in the United States. 
B)  Trade quickens the flow of ideas and technology. 
C)  Trade expands the menu of goods and services available to trading countries. 
D)  Trade is directly responsible for job loss and unemployment.

Question 5

Briefly describe the two ways in which economic decisions are made.

Accepted Answer

Economic decisions are typically made th

Question 6

Compare and contrast Keynesian and supply-side economics. What are the underlining principles of these economic theories? What tools does each theory advocate the government use for "fixing" various economic situations?

Accepted Answer

Keynesian economics and supply-side econ

Question 7

Social Security and Medicare are the two largest federal entitlement programs.

Accepted Answer

A) True 
 B)False

Economics is the study of the production and distribution of scarce goods and services.

Keynesian economic theory advocates using fiscal policy, the combination of tax policy and spending policy to ensure a healthy economy.

Most federal revenues come from the taxes that businesses pay.

Which of the following is not true of trade with other nations?

Briefly describe the two ways in which economic decisions are made.

Compare and contrast Keynesian and supply-side economics. What are the underlining principles of these economic theories? What tools does each theory advocate the government use for "fixing" various economic situations?

Social Security and Medicare are the two largest federal entitlement programs.

Power, Society, and Social Science

Social Sciences and the Scientific Method

Power and Ideology

Power and Culture: an Anthropologists View

Power and Sociology: the Importance of Social Class

Power and History

Power and Politics

Power and Psychology

Power, Race, and Gender

Poverty and Powerlessness

Power, Violence, and Crime

Power and the Global Community

Power Among Nations

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Exam 8: Power and the Economy

Economics is the study of the production and distribution of scarce goods and services.

Keynesian economic theory advocates using fiscal policy, the combination of tax policy and spending policy to ensure a healthy economy.

Most federal revenues come from the taxes that businesses pay.

Which of the following is not true of trade with other nations?

Briefly describe the two ways in which economic decisions are made.

Compare and contrast Keynesian and supply-side economics. What are the underlining principles of these economic theories? What tools does each theory advocate the government use for "fixing" various economic situations?

Social Security and Medicare are the two largest federal entitlement programs.

Power, Society, and Social Science

Social Sciences and the Scientific Method

Power and Ideology

Power and Culture: an Anthropologists View

Power and Sociology: the Importance of Social Class

Power and History

Power and Politics

Power and Psychology

Power, Race, and Gender

Poverty and Powerlessness

Power, Violence, and Crime

Power and the Global Community

Power Among Nations

Filters