US GED Social Advanced Economics Test 5

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20 questions · All questions on one page

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GED & Citizenship — Test 5 (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 5 (Ged Social Advanced Economics) · Education: High School & Adult · Part: GED & Citizenship — Test 5 (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 the Fed?

A) Central bank

B) Treasury office

C) Private bank

D) World bank

Question 2

What is a tariff?

A) Export gift

B) Import tax

C) Income tax

D) No tax

Question 3

What is a stock?

A) Bond

B) Loan

C) Company share

D) Bill

Question 4

What is savings?

A) Spent money

B) Borrowed money

C) Lost money

D) Kept money

Question 5

What is a depression?

A) Deep long slump

B) Mild dip

C) Quick bounce

D) Boom

Question 6

What is monetary policy?

A) Congress taxes

B) Fed money control

C) Courts fine

D) States borrow

Question 7

What best defines deflation?

A) Rising prices

B) Flat wages

C) Falling prices

D) High taxes

Question 8

Which of the following best defines supply and demand?

A) Fixed prices

B) No market

C) Government sets

D) Price-setting forces

Question 9

What best defines minimum wage?

A) Legal pay floor

B) Maximum pay

C) No floor

D) Average pay

Question 10

What best defines a bank?

A) Store

B) Money keeper lender

C) School

D) Court

Question 11

What best defines a bond?

A) Share

B) Bill

C) Lent money paper

D) Coin

Question 12

Which of the following best defines income tax?

A) Sales levy

B) Property levy

C) No tax

D) Earnings levy

Question 13

Provide the definition of competition:

A) Rival sellers

B) One seller

C) No sellers

D) Government only

Question 14

Provide the definition of loss:

A) Profit

B) Cost over gain

C) Break even

D) No sales

Question 15

What best defines trade?

A) No exchange

B) Gifts only

C) Buying selling across

D) Barter only

Question 16

Which term means "Output value total"?

A) economics

B) scarcity

C) supply

D) GDP

Question 17

Provide the definition of supply:

A) Available amount

B) Wanted amount

C) Price level

D) Sold total

Question 18

Provide the definition of Social Security:

A) Health insurance

B) Retirement safety net

C) Unemployment only

D) Food stamps

Question 19

What best defines welfare?

A) Free college

B) Tax cuts

C) Need-based assistance

D) Farm subsidies

Question 20

Which term means "Borrowed money"?

A) economics

B) scarcity

C) supply

D) a loan

US GED Social Advanced Economics Test 5

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