Question 1

What does an economic safety net provide,and why would a country want to have one?

Accepted Answer

A safety net provides a measure of secur

Question 2

Can economic competition be viewed as a positive force for growth and progress?

Accepted Answer

A)  No, economic competition historically had neither a positive nor a negative effect. 
B)  No, because there is more poverty today than in the past. 
C)  Yes, because economic competition of any type always leads to growth and progress. 
D)  Yes, as long as it is conducted within a fair set of rules. 
A)  No, economic competition historically had neither a positive nor a negative effect. 
B)  No, because there is more poverty today than in the past. 
C)  Yes, because economic competition of any type always leads to growth and progress. 
D)  Yes, as long as it is conducted within a fair set of rules.

Question 3

Which of the following is NOT mentioned in the textbook as one of its three goals?

Accepted Answer

A)  Presenting the basic tools of economics. 
B)  Promoting an understanding of markets. 
C)  Showing the ways in which the possibilities of today's economy are expanding. 
D)  Teaching how to successfully invest money in the stock market. 
A)  Presenting the basic tools of economics. 
B)  Promoting an understanding of markets. 
C)  Showing the ways in which the possibilities of today's economy are expanding. 
D)  Teaching how to successfully invest money in the stock market.

Question 4

Technological change is generally

Accepted Answer

A)  very uneven. 
B)  slow across the board. 
C)  evenly divided across industries. 
D)  always manageable by government. 
A)  very uneven. 
B)  slow across the board. 
C)  evenly divided across industries. 
D)  always manageable by government.

Question 5

What are the main forces shaping today's economy,and how are they impacting the economy?

Accepted Answer

There are three main forces shaping toda

Question 6

How does top-down management of an economy affect it?

Accepted Answer

Top-down management reduces insecurity,b

Question 7

The textbook says that which of the following is among the key forces shaping today's economy?

Accepted Answer

A)  Political scandals. 
B)  Government regulations. 
C)  Globalization. 
D)  Increasing income inequality. 
A)  Political scandals. 
B)  Government regulations. 
C)  Globalization. 
D)  Increasing income inequality.

Question 8

The financial markets do NOT include which of the following?

Accepted Answer

A)  Banks. 
B)  Stock markets. 
C)  Government regulatory agencies. 
D)  Nonprofit organizations. 
A)  Banks. 
B)  Stock markets. 
C)  Government regulatory agencies. 
D)  Nonprofit organizations.

Question 9

Which of the following does NOT explain why there are so many disagreements among economists?

Accepted Answer

A)  In some cases, there aren't enough data to answer the question. 
B)  In some cases, the controversy is aggravated by political agendas. 
C)  In some cases, individuals may stand to gain from policy changes. 
D)  In some cases, economists have simply not investigated the issue at hand. 
A)  In some cases, there aren't enough data to answer the question. 
B)  In some cases, the controversy is aggravated by political agendas. 
C)  In some cases, individuals may stand to gain from policy changes. 
D)  In some cases, economists have simply not investigated the issue at hand.

Question 10

What is one reason why countries are more interconnected today?

Accepted Answer

A)  Technology. 
B)  Decreased exports. 
C)  Decreased imports. 
D)  Increased costs of communications. 
A)  Technology. 
B)  Decreased exports. 
C)  Decreased imports. 
D)  Increased costs of communications.

Question 11

Why is the gross domestic product one of the indicators of prosperity?

Accepted Answer

The more goods and services an economy c

Question 12

Which of the following is NOT part of an economy's financial market?

Accepted Answer

A)  The residential mortgage market. 
B)  The stock market. 
C)  Banks and brokerage firms. 
D)  Political action committees. 
A)  The residential mortgage market. 
B)  The stock market. 
C)  Banks and brokerage firms. 
D)  Political action committees.

Question 13

Gross domestic product is

Accepted Answer

A)  not a useful indicator of prosperity. 
B)  the only indicator of prosperity that economists use. 
C)  one of many indicators of prosperity, some of which are monetary, and some of which are nonmonetary. 
D)  one of many indicators of prosperity, all of which are monetary in nature. 
A)  not a useful indicator of prosperity. 
B)  the only indicator of prosperity that economists use. 
C)  one of many indicators of prosperity, some of which are monetary, and some of which are nonmonetary. 
D)  one of many indicators of prosperity, all of which are monetary in nature.

Question 14

Deregulation is the process of _________ government control over industries.

Accepted Answer

A)  increasing 
B)  eliminating 
C)  reducing 
D)  marginalizing 
A)  increasing 
B)  eliminating 
C)  reducing 
D)  marginalizing

Question 15

The textbook says that which of the following is among the key forces shaping today's economy?

Accepted Answer

A)  Technological change. 
B)  Government regulations. 
C)  Decreasing consumer confidence. 
D)  Increasing rates of unionization. 
A)  Technological change. 
B)  Government regulations. 
C)  Decreasing consumer confidence. 
D)  Increasing rates of unionization.

Question 16

A laissez-faire economy has minimal,if any,government regulations or laws affecting the economy.

Accepted Answer

A) True 
 B)False

Question 17

The top _____% of U.S.households earn more than half of the country's income.

Accepted Answer

A)  25 
B)  15 
C)  35 
D)  20 
A)  25 
B)  15 
C)  35 
D)  20

Question 18

One measurement of economic prosperity is

Accepted Answer

A)  the happiness index. 
B)  the gross domestic policy. 
C)  interest rates. 
D)  the gross domestic product. 
A)  the happiness index. 
B)  the gross domestic policy. 
C)  interest rates. 
D)  the gross domestic product.

Question 19

Supply and demand are examples of

Accepted Answer

A)  the tools of economics. 
B)  outdated economic theories. 
C)  technological advances. 
D)  a primary source of disagreement among economists. 
A)  the tools of economics. 
B)  outdated economic theories. 
C)  technological advances. 
D)  a primary source of disagreement among economists.

Question 20

Globalization is the exchange of ________________ among countries.

Accepted Answer

A)  e-mail 
B)  telephone calls 
C)  goods, services, ideas, and people 
D)  money 
A)  e-mail 
B)  telephone calls 
C)  goods, services, ideas, and people 
D)  money

What does an economic safety net provide,and why would a country want to have one?

Can economic competition be viewed as a positive force for growth and progress?

Which of the following is NOT mentioned in the textbook as one of its three goals?

Technological change is generally

What are the main forces shaping today's economy,and how are they impacting the economy?

How does top-down management of an economy affect it?

The textbook says that which of the following is among the key forces shaping today's economy?

The financial markets do NOT include which of the following?

Which of the following does NOT explain why there are so many disagreements among economists?

What is one reason why countries are more interconnected today?

Why is the gross domestic product one of the indicators of prosperity?

Which of the following is NOT part of an economy's financial market?

Gross domestic product is

Deregulation is the process of _________ government control over industries.

The textbook says that which of the following is among the key forces shaping today's economy?

A laissez-faire economy has minimal,if any,government regulations or laws affecting the economy.

The top _____% of U.S.households earn more than half of the country's income.

One measurement of economic prosperity is

Supply and demand are examples of

Globalization is the exchange of ________________ among countries.

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Growth

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Technological Change

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters

Exam 1: Introduction

What does an economic safety net provide,and why would a country want to have one?

Can economic competition be viewed as a positive force for growth and progress?

Which of the following is NOT mentioned in the textbook as one of its three goals?

Technological change is generally

What are the main forces shaping today's economy,and how are they impacting the economy?

How does top-down management of an economy affect it?

The textbook says that which of the following is among the key forces shaping today's economy?

The financial markets do NOT include which of the following?

Which of the following does NOT explain why there are so many disagreements among economists?

What is one reason why countries are more interconnected today?

Why is the gross domestic product one of the indicators of prosperity?

Which of the following is NOT part of an economy's financial market?

Gross domestic product is

Deregulation is the process of _________ government control over industries.

The textbook says that which of the following is among the key forces shaping today's economy?

A laissez-faire economy has minimal,if any,government regulations or laws affecting the economy.

The top _____% of U.S.households earn more than half of the country's income.

One measurement of economic prosperity is

Supply and demand are examples of

Globalization is the exchange of ________________ among countries.

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Growth

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Technological Change

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters