Homework help 3 of 4 mult choice?

Question

QUIZ--CHAPTER SIXTEEN: Choose the best answer; explain (very brief) answer if time allows

1. The prime engine of growth in market economies is

a. government spending.

b. consumer spending.

c. innovation.

d. private saving.

e. public saving.

2. Which of the following contribute to productivity growth?

a. the education and experience of the labor force.

b. investment in plants and equipment.

c. innovation resulting in new products.

d. innovation resulting in new processes.

e. All of the above are correct.

3. Capitalism is a market economic system with

a. most production processes controlled by the government.

b. most production processes controlled by private firms with minimal government control.

c. all production processes controlled by private firms.

d. all production processes controlled by the government.

e. most production processes controlled by the government, with some control by private firms.

4. The Industrial Revolution describes

a. the factory system that developed in the United States at the end of the nineteenth century.

b. the stream of new technology and resulting growth of output that began in the United States toward the end of the eighteenth century.

c. the stream of new technology and resulting growth of output that began in England toward the end of the eighteenth century.

d. the factory system that developed in England at the end of the nineteenth century.

e. the factory system that developed simultaneously in England and the United States in the late eighteenth century.

5. Which of the following is considered a key economic influence on the capacity of market economies to promote unprecedented growth?

a. political changes.

b. religious beliefs.

c. historical accidents.

d. free competition.

e. cultural factors.

Answer 1

1 - B

2 - E

3 - B/C depending on your point of view (or rather what was said in the chapter)

4 - C

5 - D