Exam 2: The US Economy

The goods and services purchased from foreign sources are:

If all of our GDP were distributed equally across the United States,each individual would receive:

By definition,a progressive tax:

Which of the following is NOT true about U.S.corporations?

A capital-intensive production process increases the level of output per worker.

Which of the following is true about government services as a component of GDP?

Economic growth:

The U.S.federal income tax is an example of a progressive tax.

The primary way to distinguish among corporations,partnerships,and proprietorships is by observing:

Income transfers include:

The government has an impact on the HOW to produce question when it does all of the following EXCEPT:

Which of the following is NOT a reason why the United States is able to produce such high levels of GDP?

In the United States,net exports account for two-thirds of GDP.

In terms of income distribution,if a person moves from the lowest fifth of households to the highest fifth over many years,this is known as:

Which of the following sectors contributes the largest amount to the U.S.GDP?

The productivity of American workers reflects all of the following EXCEPT:

Economic growth is desirable because it usually creates more jobs and income.

GDP is the sum of consumption,investment,government purchases,and:

The purpose of the U.S.tax-transfer system is to:

A capital-intensive production process: