US GED Social Advanced Economics Test 4

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

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GED & Citizenship — Test 4 (Ged Social Advanced Economics) High School & Adult (GED/Citizenship, USA) USA GED & USCIS (100 Civics) — USA

What is this test? for GED or US Citizenship (USCIS 100), USA — High School & Adult (GED/Citizenship, USA) level, USA.
For adults: GED (high school equivalency) or Naturalization/Citizenship (USCIS) in the USA — is this your path?
Section: GED & Citizenship — Test 4 (Ged Social Advanced Economics) · Education: High School & Adult · Part: GED & Citizenship — Test 4 (Ged Social Advanced Economics) · Country: USA

Civics knowledge is crucial for knowing individual rights and responsibilities and understanding government structure.

This test is designed to assess your knowledge of constitutional law and essential civics.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is supply and demand?

A) Price-setting forces

B) Fixed prices

C) No market

D) Government sets

Question 2

What is income tax?

A) Sales levy

B) Earnings levy

C) Property levy

D) No tax

Question 3

What is economics?

A) Free goods

B) No choices

C) Choice under scarcity

D) Only money

Question 4

What is a union?

A) Company

B) Court

C) Bank

D) Worker group

Question 5

What is a shortage?

A) Demand over supply

B) Extra goods

C) No buyers

D) Low prices

Question 6

What is a deficit?

A) Extra savings

B) Spending over revenue

C) Balanced books

D) No taxes

Question 7

Which of the following best defines deflation?

A) Rising prices

B) Flat wages

C) Falling prices

D) High taxes

Question 8

Which term means "Central bank"?

A) economics

B) scarcity

C) supply

D) the Fed

Question 9

Which of the following best defines minimum wage?

A) Legal pay floor

B) Maximum pay

C) No floor

D) Average pay

Question 10

Which of the following best defines a bank?

A) Store

B) Money keeper lender

C) School

D) Court

Question 11

Which of the following best defines a bond?

A) Share

B) Bill

C) Lent money paper

D) Coin

Question 12

Which of the following best defines a tariff?

A) Export gift

B) Income tax

C) No tax

D) Import tax

Question 13

What best defines competition?

A) Rival sellers

B) One seller

C) No sellers

D) Government only

Question 14

What best defines loss?

A) Profit

B) Cost over gain

C) Break even

D) No sales

Question 15

Which of the following best defines trade?

A) No exchange

B) Gifts only

C) Buying selling across

D) Barter only

Question 16

What best defines a stock?

A) Bond

B) Loan

C) Bill

D) Company share

Question 17

What best defines supply?

A) Available amount

B) Wanted amount

C) Price level

D) Sold total

Question 18

What best defines Social Security?

A) Health insurance

B) Retirement safety net

C) Unemployment only

D) Food stamps

Question 19

Which of the following best defines welfare?

A) Free college

B) Tax cuts

C) Need-based assistance

D) Farm subsidies

Question 20

Provide the definition of savings:

A) Spent money

B) Borrowed money

C) Lost money

D) Kept money

US GED Social Advanced Economics Test 4

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