Question 1

The WHAT question can best be answered using data about which of the following?

Accepted Answer

A)  The distribution of output among manufacturing,services,and agricultural sectors.
B)  Per capita GDP.
C)  Productivity.
D)  The distribution of GDP among different income quintiles.

Question 2

As of the year 2000,manufacturing,mining,and construction accounted for what percentage of total U.S.output?

Accepted Answer

A)  15 percent.
B)  19 percent.
C)  28 percent.
D)  None of the choices are correct.

Question 3

The bottom 80 percent of the families in the United States receive approximately ______ percent of total income.

Accepted Answer

A)  10
B)  20
C)  50
D)  90

Question 4

Which of the following has been a century-long trend in the United States?

Accepted Answer

A)  Decline of total value of world trade.
B)  Relative increase in farming to manufacturing.
C)  Relative decline in manufacturing to the service sector.
D)  Relative decline in service sector to manufacturing.

Question 5

A laissez faire economy

Accepted Answer

A)  Relies predominantly on government policy rather than free market action.
B)  Relies predominantly on free market action rather than government policy.
C)  Relies equally on government policy and free market action.
D)  None of the choices are correct.

Question 6

Which of the following would be a legitimate government activity in the U.S.economy?

Accepted Answer

A)  The provision of public goods and services.
B)  The regulation of water pollution.
C)  Enforcing child labor laws.
D)  All of the choices are correct.

Question 7

According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?

Accepted Answer

A)  Japan.
B)  The United States.
C)  Germany.
D)  Haiti.

Question 8

The measure of final new goods and services produced in the United States is the

Accepted Answer

A)  GDP of the United States.
B)  Percentage change in the GDP of the United States.
C)  Per capita GDP in the United States.
D)  Total sales of all goods during the year.

Question 9

In the years from 2000 through 2009,China's standard of living or per capita GDP grew faster than that of the United States.
Regarding the per capita GDP,the numerator (real GDP)grew faster and the denominator (population)grew more slowly for China than for the United States.In essence,China had a larger quotient and thereby larger growth in its standard of living.

Accepted Answer

A) True 
 B)False

Question 10

Income inequalities are often greatest in the poorest countries.
Richer nations tend to be better at reducing income inequality than are poorer nations.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following countries (or regions) produces the most output annually?

Accepted Answer

A)  Japan.
B)  United States.
C)  China.
D)  Germany.

Exam 2: The Us Economy: A Global View

Which of the following would be a legitimate government activity in the U.S.economy?

Correct Answer
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Which of the following countries (or regions) produces the most output annually?

Correct Answer
verified

The measure of final new goods and services produced in the United States is the

Correct Answer
verified

Income inequalities are often greatest in the poorest countries. Richer nations tend to be better at reducing income inequality than are poorer nations.

Correct Answer
verified

The WHAT question can best be answered using data about which of the following?

Correct Answer
verified

The bottom 80 percent of the families in the United States receive approximately ______ percent of total income.

Correct Answer
verified

A laissez faire economy

Correct Answer
verified

Correct Answer
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As of the year 2000,manufacturing,mining,and construction accounted for what percentage of total U.S.output?

Correct Answer
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According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?

Correct Answer
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Which of the following has been a century-long trend in the United States?

Correct Answer
verified

Exam 2: The Us Economy: A Global View

Which of the following would be a legitimate government activity in the U.S.economy?

Correct AnswerverifiedShow Answer

Which of the following countries (or regions) produces the most output annually?

Correct AnswerverifiedShow Answer

The measure of final new goods and services produced in the United States is the

Correct AnswerverifiedShow Answer

Income inequalities are often greatest in the poorest countries. Richer nations tend to be better at reducing income inequality than are poorer nations.

Correct AnswerverifiedShow Answer

The WHAT question can best be answered using data about which of the following?

Correct AnswerverifiedShow Answer

The bottom 80 percent of the families in the United States receive approximately ______ percent of total income.

Correct AnswerverifiedShow Answer

A laissez faire economy

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

As of the year 2000,manufacturing,mining,and construction accounted for what percentage of total U.S.output?

Correct AnswerverifiedShow Answer

According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?

Correct AnswerverifiedShow Answer

Which of the following has been a century-long trend in the United States?

Correct AnswerverifiedShow Answer

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Correct Answer
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