Macroeconomic Indicators

Who is considered to be the father of modern economics?

• Thomas Jefferson

• Alexander Hamilton

• King George III

• Adam Smith

What were the European colonizers looking for when roaming and claiming new lands outside Europe?

• Civilization

• Industrialization

• Wealth

• Money

During colonization it was believed that wealth can NOT be:

• Inherited

• Stolen

• Created

• Divided

Industrial Revolution as well as the principles laid out in Adam Smith's Book "The Wealth of Nations" have suggested that wealth can be _____________.

• Inherited

• Stolen

• Created

• Divided

What is NOT one of the three factors of Production?

• Capital

• Labor

• Taxes

• Land

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, ______________

• freedom of speech

• the separate and equal station

• fair treatment of all humans

• the pursuit of happiness

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are ______________ .

• Eat, Pray, Love

• Make money, work hard, go to church

• The Good, the Bad and the Ugly

• Life, Liberty and the pursuit of Happiness

The last 27th grievance of the Declaration of Independence was really about _________.

• King George III enslaving Indians

• Colonists being scared of Indians

• Land disputes with Indians

• Right to bear arms

By declaring independence from the British King the colonizers have claimed what to be theirs to own without paying taxes for?

• Slaves

• Equipment

• Land

• Capital

What is not a macroeconomic indicator of a country's wealth?

• Gross Domestic Production

• Consumer Price Index

• Inflation Rate

• Happiness Index