Exam 1: Introduction

Which of the following countries have better retirement benefits and more job security than the United States?

The gross domestic product is the dollar value of all goods and services produced by the economy.

In 2009 the gross domestic product of the United States was

A laissez-faire economy has

Besides the gross domestic product,another measure of how well an economy is doing is:

In a centrally planned economy,decisions are made by

Which of the following is part of the U.S.government's economic safety net?

For the United States,one important benefit of foreign trade is

Which is not an example of government intervention in the economy?

History suggests that economic competition is the most consistent force for economic growth and progress.

A centrally planned economy encourages investment and innovation.

China and India have economically prospered recently by introducing

Poorer countries started to develop economically when they

The income and wealth gap in the United States has

Renewable energy sources provided _____% of U.S.needs as of 2009.

An example of a company that uses financial markets to raise money is

The influx of inexpensive,reliable cars from Japan in the 1980s forced domestic producers to

Which of the following is NOT mentioned in the textbook as a constraint that affects the economy?

Closed economies generally do ______ open economies,in the long run.

Economics is the study of how individuals,businesses,and governments make decisions and make trade-offs in the face of scarce resources.