#1
Which president signed the Civil Rights Act of 1964 into law?
Lyndon B. Johnson
ExplanationPresident who enacted landmark civil rights legislation.
#2
What is the name of the economic theory that advocates minimal government intervention in the economy?
Laissez-faire
ExplanationPhilosophy advocating for limited government interference.
#3
What was the primary goal of the New Deal programs implemented during the Great Depression?
To provide relief, recovery, and reform
ExplanationInitiatives aimed at alleviating economic hardship.
#4
Which president is associated with the introduction of the 'Great Society' programs?
Lyndon B. Johnson
ExplanationPresident who initiated domestic social reforms.
#5
What is the primary goal of fiscal policy?
To manage government spending and taxation
ExplanationControl over public expenditure and revenue.
#6
What is the primary objective of monetary policy?
To regulate interest rates
ExplanationControl over money supply and interest rates.
#7
Which event marked the beginning of the Great Depression in the United States?
The stock market crash of 1929
ExplanationEconomic downturn triggered by the collapse of stock prices.
#8
Who wrote the influential book 'The Other America', which shed light on poverty in the United States?
Michael Harrington
ExplanationAuthor who brought attention to poverty in the U.S.
#9
Who is often credited with developing the concept of the 'American Dream'?
Benjamin Franklin
ExplanationFigure associated with the ideology of the American Dream.
#10
Who was the first woman to serve as the Chair of the Federal Reserve in the United States?
Janet Yellen
ExplanationFirst female head of the U.S. Federal Reserve.
#11
Who is known for his theory of 'Creative Destruction' in economics?
Joseph Schumpeter
ExplanationEconomist associated with the concept of innovation's disruptive effects.
#12
What was the main objective of the Marshall Plan?
To provide aid to war-torn European countries
ExplanationPost-war initiative to rebuild European economies.
#13
Which of the following is NOT a component of Gross Domestic Product (GDP)?
Personal savings
ExplanationSavings not considered in GDP calculation.
#14
Which of the following is NOT a characteristic of a recession?
Rising GDP
ExplanationRecession entails a decline, not a rise, in GDP.
#15
Which of the following is a characteristic of a command economy?
Centralized government planning
ExplanationEconomic decisions made by centralized authority.
#16
Which of the following is NOT a type of unemployment?
Monopolistic unemployment
ExplanationUnemployment category not recognized in economic theory.
#17
Which of the following is NOT a factor affecting labor productivity?
Inflation rate
ExplanationInflation does not directly affect labor productivity.
#18
Who coined the term 'Gross National Happiness' as a measure of a nation's well-being?
Jigme Singye Wangchuck
ExplanationLeader associated with well-being as a national indicator.