Answers26-27 Ignite Economics-KY-EconomicsInflation and Stagflation (continued)

Inflation and Stagflation (continued) — Unit test Answers

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1
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Among the changes that labor reformers wanted after the Industrial Revolution was

A
more jobs for untrained workers.
B
a ban on child factory workers.
C
jobs for women factory workers.
D
equal pay for owners and workers.
2
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The diagram shows different types of policies.

Question illustration
A
The Best Economic Policies
B
Government Economic Policies
C
Ineffective Economic Policies
D
The Free Enterprise System
3

Which statement explains a way how the Securities and Exchange Commission upholds fair business practices?

A
The SEC makes sure that banks follow federal laws.
B
The SEC tries to limit risk in the financial system.
C
The SEC generally oversees banking practices.
D
The SEC generally oversees financial advisers.
4

The EPA tries to balance protecting business interests with protecting

A
food.
B
air.
C
consumer products.
D
medical devices.
5

similardifferentallrandom

A
similar
B
different
C
all
D
random
6

Which body manages the Fed?

A
the Appropriations Committee
B
the Federal Reserve Board
C
the Federal Open Markets Committee
D
the Economic Policy Subcommittee
7

Which group does the Fed serve?

A
financial institutions
B
consumers
C
government bodies
D
bankers
8

In which of the following ways do governments spend money to meet public needs? Check all that apply.by protecting the publicby arming the publicby providing health careby supporting educationby building roads and bridges

A
by protecting the public
B
by arming the public
C
by providing health care
D
by supporting education
E
by building roads and bridges
9

To be successful, what must an entrepreneur be willing to invest? Check all that apply.moneyunemploymentpersonal safetytimeconsiderable effort

A
money
B
unemployment
C
personal safety
D
time
E
considerable effort
10

What part does interest play in deficit spending?

A
Governments must pay interest on money they borrow when they take on debt.
B
Citizens must pay interest when their governments borrow money.
C
Governments may charge foreign countries interest when they borrow money.
D
Interest is not a factor when a government’s budget is in deficit.
11

Labor unions were certain to advocate for the best interests of workers because

A
the government shut down factories that did not improve work conditions.
B
the top factories were run by owners who wanted to retain their workers.
C
the government required all labor unions to promote workplace reform.
D
the labor unions were created by workers and made up of workers.
12

The development of many new businesses helps limit

A
unemployment.
B
taxation.
C
revenue.
D
risk.
13

What is a major factor in the decline of some occupations, such as those in the textiles and clothing industries?

A
shifting consumer tastes
B
overseas labor costs
C
changing technologies
D
aging populations
14

[BLANK]

A
spending
B
profit
C
debt
D
saving
15

Which best describes why governments collect taxes?

A
to control the value of currency
B
to keep the government running
C
to ensure surplus funds
D
to fund government programs

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