Question

Deregulation includes reducing governmental control over some aspects of private industry, while increasing control of others.

FALSE

TRUE

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Question 25 pts

Which of the following is presented in the text as an issue about which reputable economists might disagree?

Whether unemployment rose significantly during the Great Recession.

Whether the government should provide more scholarship funds.

The impact on the federal budget of an increase in military spending.

The definition of a market transaction.

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Question 35 pts

One measurement of economic prosperity is

interest rates.

the happiness index.

the gross domestic policy.

the gross domestic product.

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Question 45 pts

Economics competition can have which of the following negative effects on a domestic economy?

It increases the profits of domestic suppliers.

It drives up wages and profits.

It drives down wages and profits.

It protects domestic jobs.

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Question 55 pts

In a centrally planned economy, decisions are made by

large corporations.

private businesses.

top-level government officials.

low-level government employees.

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Question 65 pts

An example of a company that uses financial markets to raise money is

your local carryout restaurant.

the Social Security Administration.

the Ford Motor Company.

a local television news website.

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Question 75 pts

Which of the following is an example of technological change?

Ralph Lauren clothing.

The personal computer.

Filet mignon.

Starbucks coffee.

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Question 85 pts

The income and wealth gap in the United States has

increased in recent years.

helped reduce the federal budget deficit.

decreased in recent years.

stayed the same in recent years.

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Question 95 pts

China and India have economically prospered recently by introducing

a stronger central bank.

a more market-based economy.

more centralized planning.

greater government intervention.

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Question 105 pts

Renewable energy sources provided _____% of U.S. needs as of 2009.

Almost 100

20

8

15

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Question 115 pts

For the United States, one important benefit of foreign trade is

decreased domestic competition.

reality checks in the economy.

less domestic competition.

access to cheaper goods and services.

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Question 125 pts

Gross domestic product is

one of many indicators of prosperity, all of which are monetary in nature.

the only indicator of prosperity that economists use.

not a useful indicator of prosperity.

one of many indicators of prosperity, some of which are monetary, and some of which are nonmonetary.

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Question 135 pts

Deregulation in the United States began with what industry in the 1970s?

The agricultural industry.

Interstate trucking.

The postal service.

Telecommunications.

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Question 145 pts

Can economic competition be viewed as a positive force for growth and progress?

No, economic competition historically had neither a positive nor a negative effect.

No, because there is more poverty today than in the past.

Yes, because economic competition of any type always leads to growth and progress.

Yes, as long as it is conducted within a fair set of rules.

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Question 155 pts

The textbook says that which of the following is among the key forces shaping today's economy?

Government regulations.

Decreasing consumer confidence.

Increasing rates of unionization.

Technological change.

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Question 165 pts

The most consistent force for economic growth and progress is

economic competition.

technology integration.

the gross domestic product.

government regulation.

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Question 175 pts

The gross domestic product is the dollar value of all goods and services produced by the economy.

FALSE

TRUE

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Question 185 pts

Technological change has always been the critical factor in raising living standards, even going as far back as the development of the __________.

iPod

bicycle

fluorescent light

steam engine

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Question 195 pts

The textbook says that which of the following is among the key forces shaping today's economy?

Globalization.

Government regulations.

Increasing income inequality.

Political scandals.

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Question 205 pts

A centrally planned economy encourages investment and innovation.

FALSE

TRUE

Someone please help!