AnswersTX-EconomicsEconomic Systems (continued)

Economic Systems and Daily Life Answers

10 verified answers
1
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In a mixed market economy, property owned by the government

A
can be used by many citizens.
B
can cause economic inequality.
C
can help promote personal wealth.
D
can be used for private businesses.
2
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In a mixed market economy, a fire breaks out in a sneaker factory. The repair work most likely will be paid by

A
the government group that runs the factory.
B
the state agency that operates the factory.
C
the city official who manages the factory.
D
the private citizen who owns the factory.
3

What is one counter-argument to the premise that the wealth gap is a serious problem which needs to be addressed?

T
The lower classes have the opportunity to invest.
P
Poor people can easily move into the middle class.
I
Investments by the upper class create lower-class jobs.
B
Buying power sharply increases for the working class.
4

How does a high unemployment rate affect the economy?

A
A high unemployment rate has no effect.
A
A high unemployment rate has little effect.
A
A high unemployment rate has a very positive effect.
A
A high unemployment rate has a very negative effect.
5

Private property is land or goods

o
owned by the government.
o
owned by an individual.
u
used by state officials.
u
used for taxation.
6

is the act of working in exchange for an income.

Answer not available
7

What is the best definition of ownership?

A
Ownership is the right to possess land or goods.
B
Ownership is the right to possess land alone.
C
Ownership is the right to purchase land or goods.
D
Ownership is the right to purchase goods alone.
8

This graph shows the division of wealth in the United States in 2010.Based on this graph, how much wealth did the top 20 percent of the population hold?

Question illustration
A
about 35 percent
B
about 55 percent
C
about 80 percent
D
about 90 percent
9

This graph shows the changing unemployment rate in the United States.From 2001 to 2011, unemployment in the United States

Question illustration
A
stayed the same.
B
slightly changed.
C
sharply increased.
D
sharply decreased.
10

The difference in income between the richest and poorest citizens is called

a
a command economy.
u
unemployment.
p
private property.
t
the wealth gap.

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