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

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