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CSE 1000 Part 4 Test Study Guide

Authored by Denise Corbin

Social Studies

12th Grade

Used 1+ times

CSE 1000 Part 4 Test Study Guide
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54 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What best describes the relationship between economic freedom and the growth rate of real per capita Gross Domestic Product (GDP)?

Countries with less economic freedom tend to grow more rapidly than those that are more free.

Rich countries that are economically free generally grow rapidly, but there is no evidence that economic freedom helps low-income countries.

Countries with more economic freedom tend to grow more rapidly than those that are less free.

There are too many extraneous factors involved to discern any relationship between the two.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the inflation rate is high and volatile, _____________.

real output and real wages will grow rapidly

investment is less risky and gains from trade are reduced

employment will expand and the unemployment rate will decline

Investment is more risky and gaiins from trade are reduced

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Between 2001 and 2005, sub-prime and poorly documented loans ____________ as a share of the total.

fell from 30% to less than 10%

Rose from 10% to more than 30%

rose from 5% to 10%

fell from more than 20% to less than 10%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In 1820, the average life expectancy at birth for the world was 26 years. By 2003, the average life expectancy worldwide at birth was ____________.

less than 40

50

64

almost 80

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Western states, local, state, and federal governments have created publicly owned parks, forests, and monuments. This vast land area can no longer be privately developed. What will be the effect of this policy?

The land will be used less productively than under private ownership

More nonrenewable resources will be preserved for the future

The governments will use the resources of the parks, forests, and monuments to create the most value for the people

The governments will correct any negative externalities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What best describes the system of social coordination called “the invisible hand,” which was first described by Adam Smith?

Prices direct suppliers toward production of goods that generate profits and consumers to purchase goods that improve their well being

Consumers decide how to produce the most important goods and services.

Producers control the price, output, and quality of goods and services.

Central planners direct both the output of producers and the consumption of purchasers.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to be successful in a market economy, entrepreneurs must ____________.

use only personal financial capital so they can avoid interest payments on borrowed funds

produce anything that consumers value, regardless of cost

produce a good that consumers value less than the resources used to produce it

combine resources in a manner that increases their value

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