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True / False
2. The U.S. economy is unique for both its size and prosperity.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
3. The factors of production include all goods and services produced in an economy.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
6. Prosperity in the United States is evenly distributed across the fifty states.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: Measuring the Economy
NATIONAL STANDARDS: United States - BPROG: Analytic
ACCREDITING STANDARDS: Measuring the Economy
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Comprehension
8. Gross domestic product is the money value of all final goods and services produced in an economy in a year.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: DISC: The study of economics, an - DISC: The study of economics, and
definitions in economics
NATIONAL STANDARDS: United States - Analytic - BB-Legal
ACCREDITING STANDARDS: The study of economics, and defi - The study of economics, and definitions of
economics
TOPICS: The American Economy: A Thumbnail Sketch
KEYWORDS: BLOOM’S: Knowledge
11. Real GDP is the dollar value of all goods and services produced in an economy.
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed
with a certain product or service or otherwise on a password-protected website for classroom use.
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