AnswersISP ONLY Economics S5000XXEconomic Systems and Daily Life

Economic Systems and Daily Life Answers

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Which descriptions did you include in your response? Check all that apply.

A
a description of a mixed market economy
B
a description of how mixed market economies can respond to challenges
C
a description of the economic choices allowed in a mixed market economy
3

✔ lessmore equally

Answer not available
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private publicprivate and public

A
private
B
public
C
private and public
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Use the drop-down menu to complete each statement.

Answers:
The amount of money you earn by working is your .:income
The percentage of people actively looking for a job is called .:unemployment
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incomewealth gapunemployment

A
income
B
wealth gap
C
unemployment
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From 1981 to 2001, which change was most likely happening in the US economy?

A
a decrease in spending by consumers
B
an increase in the number of workers
C
an increase in spending by consumers
D
an increase in government intervention in the economy
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What percentage of wealth belonged to the wealthiest 1 percent of US citizens in 2010?

A
about 53 percent
B
about 35 percent
C
about 11 percent
D
about 42 percent
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From 1981 to 2001, which change was most likely happening in the US economy?

A
a decrease in spending by consumers
B
an increase in the number of workers
C
an increase in spending by consumers
D
an increase in government intervention in the economy
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What percentage of wealth belonged to the wealthiest 1 percent of US citizens in 2010?

A
about 53 percent
B
about 35 percent
C
about 11 percent
D
about 42 percent
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What type of economic system are you a part of?In a short paragraph, explain how your economic system regulates choices to respond to economic challenges.

Answer:

I am part of a mixed market economy. Consumers and businesses make many decisions about what to buy, produce, and sell, while supply and demand influence prices. The government also sets rules, provides public services, and may take action to address problems such as unemployment, unsafe products, or shortages.

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