Econ 102 - Principles of Macroeconomics » Spring 2023 » Interesting Fact About US Economy Quiz

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

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