A Society Whose Economic System Is Engaged in the Processing

question 46

Multiple Choice

A society whose economic system is engaged in the processing and control of information is called a(n)

• A)industrial society.
• B)postmodern society.
• C)post-industrial society.
• D)agrarian society.

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Definitions:

GDP

The GDP is the comprehensive market valuation of all end products and services made within a nation's borders during a certain period.

Federal Budget Deficits

The financial situation occurring when a government spends more money than it receives in income, typically measured over a fiscal year.

Federal Budget Deficit

The shortfall when the government's expenditures exceed its revenues in a fiscal year.

National Debt

The total amount of money that a country's government has borrowed and still owes.