Full Download of Test Bank for Economics Principles and Policy, 13th Edition in PDF DOCX Format
Full Download of Test Bank for Economics Principles and Policy, 13th Edition in PDF DOCX Format
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Test Bank for Economics Principles and Policy, 13th Edition
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True / False
2. The U.S. economy is unique for both its size and prosperity.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
3. The factors of production include all goods and services produced in an economy.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
4. Outputs include goods but not services.
a. True
b. False
ANSWER: False
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
6. Prosperity in the United States is evenly distributed across the fifty states.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
8. Gross domestic product is the money value of all final goods and services produced in an economy in a year.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - Analytic - BB-Legal
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
11. Real GDP is the dollar value of all goods and services produced in an economy.
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
12. Government production accounts for about half of all GDP in the United States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The role of government
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The role of government
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
13. The United States is one of the most marketized economies in the world.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
14. The United States is one of the least marketized economies in the world.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
15. The U.S. economy is relatively open in terms of economic activity related to international trade.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
16. The U.S. economy is relatively closed in terms of economic activity related to exports and imports.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
17. An open economy produces most of the goods and services that it needs, with few imports and exports.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
18. An open economy is one in which exports and imports constitute a large share of GDP.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
20. Real GDP per capita in the U.S. grows over time.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
21. In 2013, per capita real GDP was roughly half its value in 1960.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
22. A recession is a period of time in which the total output of the economy falls.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
24. The U.S. economy has grown steadily over the years.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
25. A recession is a period of time in which the total output of the economy rises.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
28. Over the last several years and until recently, the United States has had lower unemployment rates than most European
countries.
a. True
b. False
ANSWER: True
POINTS: 1
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
29. Roughly 144 million people in the United States hold jobs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Labor markets
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Labor markets
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
30. Teenage employment in the United States has risen in the last two decades.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
32. Approximately half of all U.S. workers are employed by various levels of government.
a. True
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
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b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
33. The federal government employs more civilians than state and local governments.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Labor markets
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Labor markets
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
34. The majority of American workers are employed in the manufacturing sector.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
35. The majority of American workers are employed in the service sector of the economy.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
36. Workers earn less than half of the income generated by the production process.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Labor markets
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Labor markets
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
37. Workers earn more than half of the income generated by the production process.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Labor markets
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Labor markets
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
38. The total market value of capital assets in the United States is about $30 trillion dollars.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
39. Profits account for about 30 cents out of each dollar spent on goods in the United States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
41. American households spend more of their incomes on goods than on services.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Utility and consumer choic - DISC: Utility and consumer choice
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Utility and consumer choice
TOPICS: The Outputs: What Does America Produce?
KEYWORDS: BLOOM’S: Comprehension
42. There are about 5 million business firms in the Unites States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Oligopoly
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Oligopoly
TOPICS: The Central Role of Business Firms
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: International trade and fi - DISC: International trade and finance
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: International trade and finance
TOPICS: The Central Role of Business Firms
KEYWORDS: BLOOM’S: Comprehension
44. Multinational businesses produce and sell goods around the world.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: International trade and fi - DISC: International trade and finance
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: International trade and finance
TOPICS: The Central Role of Business Firms
KEYWORDS: BLOOM’S: Comprehension
45. Government is unnecessary in a free enterprise economy such as the United States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The role of government
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The role of government
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
46. One important role for government as referee is in defining and enforcing property rights.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The role of government
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The role of government
TOPICS: What's Missing from the Picture? Government
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
KEYWORDS: BLOOM’S: Comprehension
48. Government spending plays no role in meeting our social and public needs.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The role of government
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The role of government
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
49. National defense made up the largest portion of federal expenditures in 2009.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Monetary and fiscal policy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Monetary and fiscal policy
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
50. Government in the United States spends more as a percentage of GDP than in most other industrialized nations.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
51. The personal income tax is the single largest source of revenue for the federal government.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
52. The corporate income tax is the single largest source of revenue for the federal government.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Monetary and fiscal policy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Monetary and fiscal policy
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
53. The federal government receives most of its revenue from personal income taxes and payroll taxes.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Monetary and fiscal policy
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
55. A tax is progressive if the ratio of taxes to income rises as income rises.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
56. A tax is progressive if it raises a greater fraction of total tax revenue every year.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
57. A tax must be progressive if an individual with a higher income pays more dollars in taxes than an individual with a
lower income.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
58. Education accounts for the largest share of state and local government spending.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Monetary and fiscal policy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Monetary and fiscal policy
TOPICS: What's Missing from the Picture? Government
KEYWORDS: BLOOM’S: Comprehension
59. The government's budget accounts for about 80 percent of GDP in the United States.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The role of government
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The role of government
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
60. In a mixed economy, there is some public influence over the workings of free markets.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: Conclusion: It's a Mixed Economy
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
61. A mixed economy is one that combines public and private ownership of property.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: Conclusion: It's a Mixed Economy
KEYWORDS: BLOOM’S: Comprehension
63. The U.S. has the biggest national economy in the world solely because of the U.S. population.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Understanding and Applying - DISC: Understanding and Applying
Economic Models
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Understanding and applying econo - Understanding and applying economic
models
TOPICS: Conclusion: It's a Mixed Economy
KEYWORDS: BLOOM’S: Knowledge
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
POINTS: 1
Multiple Choice
67. The United States has the largest economy in the world because
a. it has the most land to work with.
b. it has a large population.
c. American workers are very productive.
d. both b and c are correct.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
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KEYWORDS: BLOOM’S: Analysis
71. If California were a separate economy, it would be the largest economy on earth.
a. second
b. third
c. fifth
d. eighth
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
72. Capitalism and free enterprise are common, and the United States
a. has just begun to move in that direction after years of central planning.
b. has gone further in that direction than almost any other country.
c. is becoming more "free," but is not as capitalistic as many others.
d. is considering a major change to "free up" its economy as many others have.
e. is leading the move toward greater central planning and control.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Markets, market failure, and ext - Markets, market failure, and externalities
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
74. Gross domestic product is
a. the largest industry in an economy.
b. the money value of all final goods and services produced in a year.
c. the volume of goods and services which are subject to international trade.
d. goods and services produced by private companies.
e. non-market production of goods and services.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
75. The United States produces of what it consumes, and consumes of what it produces.
a. little, little
b. little, most
c. most, little
d. most, most
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Supply and demand
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
76. In 2013, about what percentage of goods and services sold in the United States was imported?
a. 5%
b. 16%
c. 22%
d. 88%
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: International trade and fi - DISC: International trade and finance
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: International trade and finance
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
a. less than 20%
b. approximately 40%
c. approximately 60%
d. more than 80%
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: International trade and fi - DISC: International trade and finance
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: International trade and finance
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
79. How does the United States compare to other advanced, industrialized economies on the issue of openness?
a. It is completely closed.
b. It is one of the less open of them.
c. It is about average in openness.
d. It is one of the more open of them.
e. It is the most open of them.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
80. As of 2013, annual imports to the U.S. were approximately and annual exports from the U.S. were
approximately .
a. $0.6 trillion; $1.5 trillion
b. $2.2 trillion; $0.7 trillion
c. $2.7 trillion; $2.3 trillion
d. $1.5 trillion; $2.0 trillion
e. $2.0 trillion; $2.0 trillion
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: International trade and fi - DISC: International trade and finance
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: International trade and finance
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
84. Gross Domestic Product in 2013 was almost five times larger than it was in 1960 but it is important to note that
a. none of the growth represented more output.
b. measurement of output omitted any effect of inflation.
c. the population grew substantially over the same time period.
d. graphs of output were unable to display such growth.
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Analysis
87. Along with changes in the level of economic activity, measured by GDP, what other economic variable tends to rise
and fall as a consequence?
a. precipitation
b. regulation
c. circulation
d. unemployment
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Productivity and growth
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Productivity and growth
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Analysis
88. Why does unemployment tend to change when the level of output changes?
a. Persons wish to buy things, and if output falls, people need to work less to earn the income to buy the smaller
output.
b. Labor is an input, and if output falls, employers need fewer workers to make it, so the employment falls.
c. When output rises, persons are more interested in buying, and will work more to earn the income to buy
things.
d. Persons face the option of buying or working, so that when they do more of one, the other necessarily falls.
e. When companies replace workers with machines, output rises, and people take time off from work to buy
before returning to employment.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Labor markets
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Labor markets
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
89. Per capita GDP can be defined as
a. GDP per working person.
b. GDP per unit of capital.
c. GDP per person.
d. GDP per unit of unemployment.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
94. One of the most important changes in the composition of the labor force in the United States has been
a. the major increase in the number of women who work outside the home.
b. the drop in the number of men who only work part-time.
c. the steady decline in the number of women who work.
d. the increase in the ratio of male workers to female workers.
e. the major increase in the number of men who work away from the home or farm.
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
95. Which of the following groups has had declining labor force participation over the last 30 years?
a. Women
b. Men
c. Teenagers
d. Americans
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Reading and interpreting g - DISC: Reading and interpreting graphs
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Reading and interpreting graphs
TOPICS: The Inputs: Labor and Capital
KEYWORDS: BLOOM’S: Comprehension
Language: Italian
IL TRAMONTO DI UNA
CIVILTÀ
O
VOLUME SECONDO
FIRENZE
FELICE LE MONNIER
EDITORE
Lo sforzo demografico.
La guerra, la pastorizia,
l’agricoltura.
La guerra e il commercio.
Ancora de la guerra e il
commercio.
La guerra e le finanze
ateniesi.
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