Economic Principles and Policy in Texas Quiz
Explore Texas' economic landscape with questions on exports, policies, industries, and the role of renewables in shaping its economy.
#1
What is Texas' largest export?
Cotton
Oil and petroleum products
Computer and electronic products
Agricultural products
#2
Which of the following industries is NOT a major part of the Texas economy?
Textiles
Technology
Agriculture
Oil and gas
#3
Which Texas city is known as a major hub for the technology industry, often referred to as 'Silicon Hills'?
Houston
Dallas
Austin
San Antonio
#4
What is the significance of the Permian Basin in Texas?
It is a major tourist attraction known for its natural beauty
It is the largest wind farm in the United States
It is one of the most productive oil-producing areas in the world
It is a leading agricultural area specializing in organic farming
#5
Which policy is most associated with Texas' approach to attracting business investment?
High corporate taxes
Regulatory flexibility and low taxes
Strict environmental regulations
Mandatory profit sharing with employees
#6
Which agency is primarily responsible for regulating the oil and gas industry in Texas?
Texas Department of Agriculture
Texas Economic Development Department
Railroad Commission of Texas
Texas Environmental Protection Agency
#7
What was the main impact of the North American Free Trade Agreement (NAFTA) on Texas' economy?
Decreased agricultural exports
Increased manufacturing jobs
Boost in cross-border trade with Mexico and Canada
Decline in the technology sector
#8
How does Texas' no-income-tax policy affect its economic policy and population growth?
It has no significant effect on population growth
It discourages businesses from relocating to Texas
It attracts businesses and individuals, contributing to population growth
It leads to higher property taxes, discouraging population growth
#9
Which sector contributes most to the GDP of Texas?
Agriculture
Technology
Oil and gas
Real estate
#10
What significant economic policy did Texas implement to attract renewable energy investments?
High tariffs on imported oil
Tax incentives for renewable energy projects
A statewide carbon tax
Banning hydraulic fracturing
#11
What is the role of the Texas Economic Development Council?
Regulating the state's oil and gas industry
Promoting job creation and business investment throughout the state
Managing the state's public education system
Overseeing environmental protection and conservation efforts
#12
How does Texas' sales tax system impact its overall taxation structure?
It allows Texas to maintain lower property taxes.
It compensates for the absence of a state income tax, leading to a reliance on sales and property taxes.
It is the primary source of funding for the state's education system.
It discourages consumer spending and slows economic growth.
#13
What initiative has Texas undertaken to diversify its economy beyond oil and gas?
Investing heavily in technology startups
Focusing on agricultural exports
Expanding its renewable energy sector
All of the above
#14
In what way has Texas' demographic shift impacted its economic policy?
By reducing investment in public services
By increasing reliance on federal funding
By necessitating policies that support a diverse workforce
By focusing solely on the energy sector for job creation
#15
What role does the Texas Enterprise Fund play in the state's economic development?
It provides funding for small businesses only.
It is used to finance public infrastructure projects.
It offers incentives to attract business relocations and expansions to Texas.
It supports personal income tax reductions.
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