Economic Systems and Daily Life Answers
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This graph shows the changing unemployment rate in the United States.From 2001 to 2011, unemployment in the United States
A
stayed the same.B
slightly changed.C
sharply increased.D
sharply decreased.2
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This graph shows the changing unemployment rate in the United States.Based on this graph, what can be concluded about the economy between 1991 and 2008?
A
The economy was getting stronger because unemployment was low.B
The economy was getting stronger because too many manufacturing jobs were available.C
The economy was getting weaker because employment was low.D
The economy was getting weaker because stagflation was occuring.3
Critics of the wealth gap might argue that
A
economic growth will likely decline over time.B
the upper classes cannot help create new jobs.C
the wealthy become unable to make investments.D
buying power exceeds the supply from producers.4
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.5
In a mixed market economy, property owned by an individual
A
can be used by all citizens.B
can be run by a city or state.C
can help promote personal wealth.D
can be used by government workers.7
How can the government reduce the wealth gap in a mixed market economy?
A
The government can control income levels by placing limits on how much citizens can earn.B
The government can eliminate minimum wages for workers to account for economic differences.C
The government can improve education to provide new opportunities for workers in the lower class.D
The government can tax members of the wealthy class at a lower rate to address differences in income.8
When compared to a mixed-market economy, a command economy typically has
A
more private ownership.B
more government control over production.C
strong consumer-buying power.D
a greater chance for a high income.9
A wealth gap is an economic difference between
A
nations.B
economic classes.C
businesses.D
governments.10
How does a command economy differ from a mixed market economy?
A
In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.B
In a command economy, citizens have more property rights. In a mixed market economy, citizens have fewer property rights.C
In a command economy, citizens own all public property. In a mixed market economy, the government owns all private property.D
In a command economy, citizens own all private property. In a mixed market economy, the government owns all public propertyDid you find these answers helpful?
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