Govt 200 - Part 1

21 Questions  I  By Tmfitzgerald
GOVT 200 Economics

  
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Question Excerpt

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1.  A good work ethic is essential because
A.
B.
C.
D.
2.  According to one careful study of religion and national wealth, the richest states are
A.
B.
C.
D.
3.  Economic ethics deals with
A.
B.
C.
D.
4.  In the U.S., inflationary policy is usually carried out by
A.
B.
C.
D.
5.  "Equilibrium" is the economic condition (even if only very temporary) where the amount of goods
A.
B.
C.
D.
6.  The economic lesson of the Matthew 20:1-16 parable is that wages or prices
A.
B.
C.
D.
7.  Economic risk taking, or entrepreneurship is
A.
B.
C.
D.
8.  The 'work ethic' (historically called the Protestant work ethic)
A.
B.
C.
D.
9.  The early Church in Jerusalem, often cited by "Christian socialists" as communistic, was
A.
B.
C.
D.
10.  Minimum wages laws
A.
B.
C.
D.
11.  The main Marxist objection to division or specialization of labor is
A.
B.
C.
D.
12.  'Demand' is
A.
B.
C.
D.
13.  "Scarcity" as the prime determiner of economic value is
A.
B.
C.
D.
14.  'Supply' is
A.
B.
C.
D.
15.  Adam Smith, and 18th century advocate of division of labor, wrote a famous book
A.
B.
C.
D.
16.  Another economic lesson from the Matthew 20 parable is that
A.
B.
C.
17.  Occupational licensing laws by states are examples of
A.
B.
C.
D.
18.  The profit/loss principle has the advantage of manifesting
A.
B.
C.
D.
19.  Money, in order to be a genuinely-recognized medium of exchange, should be
A.
B.
C.
D.
20.  The application of the "Division of labor" offers the benefit of
A.
B.
C.
D.
21.  "Division of labor" can be defined as an arrangement in which
A.
B.
C.
D.
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