Test Bank For The Economy Today, 13th Edition Jack Gido, James P. Clements

TEST BANK FOR THE ECONOMY
TODAY, 13TH EDITION JACK
GIDO, JAMES P. CLEMENTS

, Chapter 02


The U.S. Economy: A Global View



Multiple Choice Questions



1. Approximately how much of the world's output does the United States produce?




A. 4 percent.

B. 20 percent.

C. 30 percent.

D. 1.5 percent.


2. The United States has roughly how much of the world's population?




A. 5 percent.

B. 10 percent.

C. 15 percent.

D. 20 percent.

,3. The United States has roughly how much of the world's arable land?




A. 14 percent.

B. 12 percent.

C. 10 percent.

D. 8 percent.


4. The best definition of GDP is




A. The sum of the physical amounts of goods and services in the economy.

B. A dollar measure of final output produced during a given time period.

C. A measure of the per capita economic growth rate of the economy.

D. A physical measure of the capital stock of the economy.


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

the




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.

, 6. Approximately how much of the world's output does China produce?




A. 13 percent.

B. 0 percent.

C. 9 percent.

D. 1.5 percent.


7. China has roughly how much of the world's population?




A. 10 percent.

B. 20 percent.

C. 30 percent.

D. 40 percent.


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




A. Japan.

B. United States.

C. China.

D. Germany.