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

Need help with your exam preparation?

Existing Quiz Clients Login here
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 major increase in the number of women who work outside the home
D.   The drop in the number of men who only work part-time
Question #2
Government plays a role in which type of economy?
A.   All economies
B.   Only free market economies like the U.S.
C.   Only mixed economies
D.   Only socialist economies
Question #3
Government ownership of property and resources in the United States is
A.   About as common as it is in European countries
B.   Rare, but has been increasing rapidly as the United States catches up to other countries
C.   Relatively rare; the United States is mostly privatized
D.   Widespread; the United States is a leader in the amount of government ownership of resources
Question #4
The role of the government in a market economy includes all of the following EXCEPT
A.   Collecting taxes
B.   Making and enforcing laws
C.   Providing services such as national defense
D.   Extensive ownership of productive resources
Question #5
The payment to owners of capital include
A.   Interest and profits
B.   Wages and salaries
C.   Debt and taxes
D.   Expenses and bonuses
Question #6
In the United States, most workers
A.   Work for government of some sort
B.   Produce raw materials for manufacturing
C.   Produce services rather than goods
D.   Work in agriculture and farming
Question #7
On the world scale, how populous is he U.S. economy?
A.   third
B.   second
C.   first
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.   natural resources
B.   machinery
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.   Second largest
B.   The third largest
C.   Largest
D.   Larger than all other national economies combined

Need help with your exam preparation?

Existing Quiz Clients Login here