Test Bank For Economics: Principles & Policy - 14th - 2020 All Chapters - 9781337696326

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1 :lThelUnitedlStateslislthellargestlnationalleconomylinlthelworld.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

2 :lThelU.S.leconomylisluniquelforlbothlitslsizelandlprosperity.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

3 :lThelfactorsloflproductionlincludelalllgoodslandlserviceslproducedlinlanleconomy.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

4 :lOutputsl includelgoodslbutlnotlservices.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

5 :lPopulationldensitylvariesllittlelbetweenlthel50lstates.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

6 :lProsperitylinlthelUnitedlStateslislevenlyldistributedlacrosslthel50lstates.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

7 :lInlthelUnitedlStates,lalllpropertylislprivatelylowned.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

8 :lGrossldomesticlproductlislthelmoneylvalueloflalllfinallgoodslandlserviceslproducedlinlanleconomylinlalyear.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

9 :lGrossldomesticlproductlislthelmoneylvalueloflmanufacturinglproductionlinlalyear.
Al:ltrue

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CorrectlAnswerl:lB

10 :lGDPlislalmeasurelofltheltotalloutputloflanleconomy.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

11 :lReallGDPlisltheldollarlvalueloflalllgoodslandlserviceslproducedlinlanleconomy.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

12 :lGovernmentlproductionlaccountslforlaboutlhalfloflalllGDPlinlthelUnitedlStates.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

13 :lThelUnitedlStateslisloneloflthelmostl“marketized”leconomieslinlthelworld.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

14 :lThelUnitedlStateslisloneloflthelleastl“marketized”leconomieslinlthelworld.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

15 :lThelU.S.leconomylislrelativelylopenlinltermslofleconomiclactivitylrelatedltolinternationalltrade.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

16 :lThelU.S.leconomylhaslbecomelallesslopenleconomyloverlthelpastl50lyears.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

17 :lThelU.S.leconomylhaslbecomelallesslclosedleconomyloverlthelpastl50lyears.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA


18l:lThelU.S.leconomylislrelativelylclosedlinltermslofleconomiclactivitylrelatedltolexportslandlimports.
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CorrectlAnswerl:lA

19 :lAnlopenleconomylproduceslmostloflthelgoodslandlserviceslthatlitlneeds,lwithlfewlimportslandlexports.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

20 :lAnlopenleconomylislonelinlwhichlexportslandlimportslconstitutelallargelshareloflGDP.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

21 :lAlclosedleconomylislonelinlwhichlexportslandlimportslconstitutelallargelshareloflGDP.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

22 :lThelU.S.leconomylrarelylgrows.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

23 :lEconomiclgrowthlinlthelUnitedlStateslhaslincreasedlconsistentlylsincelthel1950s.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

24 :lReallGDPlperlcapitalinlthelUnitedlStateslgrowsloverltime.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lA

25 :lInl2017,lperlcapitalreallGDPlwaslroughlylhalflitslvaluelinl1960.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

26 :lSincel1960,lperlcapitalreallGDPlinlthelUnitedlStateslhaslnearlyltripled.
Al:ltruelBl
:lfalse

CorrectlAnswerl:lB

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