Econ 102 - Principles of Macroeconomics » Fall 2022 » Interesting Fact About US Economy Quiz

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Question #1
One of the most important changes in the composition of the labor force in the United States has been
A.   The steady decline in the number of women who work
B.   The increase in the ratio of male workers to female workers
C.   The drop in the number of men who only work part-time
D.   The major increase in the number of women who work outside the home
Question #2
Government plays a role in which type of economy?
A.   Only free market economies like the U.S.
B.   Only socialist economies
C.   All economies
D.   Only mixed economies
Question #3
Government ownership of property and resources in the United States is
A.   Widespread; the United States is a leader in the amount of government ownership of resources
B.   Relatively rare; the United States is mostly privatized
C.   About as common as it is in European countries
D.   Rare, but has been increasing rapidly as the United States catches up to other countries
Question #4
The role of the government in a market economy includes all of the following EXCEPT
A.   Providing services such as national defense
B.   Collecting taxes
C.   Extensive ownership of productive resources
D.   Making and enforcing laws
Question #5
The payment to owners of capital include
A.   Debt and taxes
B.   Wages and salaries
C.   Interest and profits
D.   Expenses and bonuses
Question #6
In the United States, most workers
A.   Produce services rather than goods
B.   Produce raw materials for manufacturing
C.   Work in agriculture and farming
D.   Work for government of some sort
Question #7
On the world scale, how populous is he U.S. economy?
A.   first
B.   third
C.   fourth
D.   second
Question #8
Currently, about what percentage of goods and services sold in the United States is imported?
A.   85%
B.   30%
C.   4%
D.   17%
Question #9
Inputs, or factors of production, include
A.   Labor
B.   machinery
C.   all of these
D.   natural resources
Question #10
The United States economy is (as measured in GDP per capita) is _________ when compared to the Chinese and Indian economies.
A.   Second largest
B.   Larger than all other national economies combined
C.   The third largest
D.   Largest

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