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      Home > Quizzes and Fun Tests > GED Practice Tests > GED Practice Test - Social Science - Economics

 Follow QuizMoz on Twitter  GED Practice Test - Social Science - Economics

Welcome to the QuizMoz GED Practice Test - Social Science - Economics. QuizMoz offers one of the Internet's largest collection of quizzes for you to tease your brain and pit your wits against the experienced QuizMoz quiz masters. Go ahead and find out what you know about yourself and the world around you. Best of luck!!

Coverage
:
The GED Practice Test - Social Science - Economics is designed to test the knowledge of the test taker about important aspects of Economics. This test covers various elements like Income, Poverty, and Inflation.
This question is based upon the figure shown below


1. Which of the following statements can be inferred from the Graph?
a.The distribution of income is more unequal than the distribution of wealth
b.The distribution of wealth is more unequal than the distribution of income
c.Wealth and income are equally distributed
d.None of the Above
This question is based upon the figure shown below


2. What does the above table depict?
a.Overall standard of living for the large majority of people is rising
b.Overall standard of living for the large majority of people is falling
c.Overall standard of living for the large majority of people has not changed significantly
d.None of the Above
 This Question is based on the following passage:

3. Why a rich country like USA has so many people living below the line of poverty?
a.People of United States pay heavy taxes on their earnings
b.People of United States spend most of their Income on entertainment
c.People of United States are financially better off continuing to receive the government handouts than if they would get off welfare and work
d.None of the Above
This question is based upon the figure shown below


4. Which of the following statements can be inferred from the above picture?
a.To set up computer systems for your customers, you are free to use electrical, telephone, or computer systems of other people
b.There is a government ceiling on the amount of profit any business enterprise can earn
c.An individual has the right to own a city hall, a park or a highway
d.Just as you are free to start a computer business, so is everyone else
e.None of the Above
This question is based upon the figure shown below


5. Which type of  economy is found in United States?
a.Command Economy
b.Developing Economy
c.Market Economy
d.None of the Above
This question is based upon the figure shown below


6. With the above information, the Consumer Price Index in US:
a.Rose in July 2005
b.Remained same in July 2005
c.Fell in July 2005
d.None of the Above
This question is based upon the figure shown below


7. What effect can be seen with the rise in Inflation?
a.The fall in the purchasing power of money
b.Rise in the purchasing power of money
c.The purchasing power of money remains constant
d.None of the Above
This question is based upon the figure shown below


8. What was the cause of negative Inflation in 1930s and 1940s?
a.Increase in the use of cars
b.Extensive stock market speculation
c.Maldistibution of wealth
d.Scientific and technology advancement
e.None of the Above
This question is based upon the figure shown below


9. Inflation suddenly rose in 1970s due to:
a.Fall in the demand of commodities
b.Stagnant business activity
c.Fall in the interest rates
d.Arab oil embargo
e.None of the Above
This question is based upon the figure shown below


10. Accoding to the above graph the unemployment rate in the United Sates was lowest in 2000.
a.True
b.False
Last improved on 1/1/2010 at 4:37:20 PM by uouh
This question is based upon the figure shown below


11. What conclusions can be drawn using the details provided in the Graph?
a.Cost cutting by companies resulted in low unemployment rate in 2003
b.Cost cutting by companies resulted in high unemployment rate in 2003
c.Unemployment rate has been gradually increasing after 2003
d.Bad weather conditions are mainly responsible for the high unemployment rate in 2003
e.None of the Above
 This Question is based on the following passage:

12. After the deregulation of telecom sector:  
a.Residential telephone tariffs fell
b.There was a boom in the cell phone market
c.Internet service providers started giving free net access to its subscribers
d.None of the Above
This question is based upon the figure shown below


13. How has the SME's effected the US economy?
a.SME's has contributed in raising the standard of living of the people
b.SME's has contributed in increasing unemployment in the country
c.SME's has contributed in decreasing the purchasing power of people
d.None of the Above
This question is based upon the figure shown below


14. What was the reason of Iraq's invasion of Kuwait in 1990?
a.Kuwait's oil is of better quality
b.Iraq will have more control over the worldwide distribution of oil
c.Iraq can utilize the refineries of Kuwait to produce oil
d.None of the Above
This question is based upon the figure shown below


15. What conclusions can be drawn from the information in the Graph?
a.China is a major importer of Electrical equipments
b.Small and Medium Size Businesses are playing a large role in exporting to China
c.Small and Medium Size Businesses are playing an insignificant role in exporting to China
d.US high-technology products are not in much demand in China
16. What is opportunity cost?
a.The Price of the market
b.The cost of a market
c.The cost of a decision you make
d.All of the above
17. What is NOT a purpose of an economic system ?
a.to decide what should be produces
b.to decide for whom a product should be produced
c.to decide what the consumer want
d.to decide how a product should be produced
18. what is 99 +1005
a.1995
b.2004
c.2009
d.2105

19. what is 24 street and broadway located
a.north side
b.west side
c.south side
d.east side

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What others think about GED Practice Test - Social Science - Economics
By: Franco on Sep 10, 2013
  I feel like an idiot after taking this.
By: SE. on Sep 19, 2010
  Harder than it liiks
By: brad larock on Oct 16, 2009
  i hate social
By: sule muhammed lawwal on Sep 16, 2009
  It's great thiugh tough and technical, knowlwdge is the best wealth to acquire
By: Mike on Sep 1, 2009
  A world With Out Sound would be another way of living
By: fate on Aug 31, 2009
  this totally rocccckks its awesome !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
By: Ashley on Aug 15, 2009
  haha this is hard and the GED test is not that hard but i liked it is good info
By: deadra cue on Jun 30, 2009
  i thought that the test was kinda hard
By: Snah David on May 2, 2009
  Thank you very much for goving me a chance to know some thins good .
By: ken on Jan 23, 2009
  good one
By: mike on Oct 1, 2008
  Im encarcerated in virginia. the ged test is not that hard, you just have to study for it. do your best and make yourself do 110%. by passing this, you will exceed in your future activities.
  

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