Unit Test Answers

What are the cons of a mixed market economy for most citizens? Select four answers.There may be a sizable gap between rich and poor people.It can be very difficult for citizens to start private businesses.Citizens must pay for most basic necessities by themselves.There is no guarantee of steady employment for many citizens.Citizens may pay higher taxes than in other economic systems.Citizens often purchase their own health care and higher education.

What role do government agencies play in a mixed market economy?

In a republic, elected officials create laws to regulate the economy.

A pure market economy is sometimes called pure

Which situation best reflects the concept of free enterprise?

What are some ways to address unemployment in a market economy? Select three answers.creating new projectsincreasing regulationlowering restrictionsraising more taxespromoting hiring

"Everyone’s rights should be protected" is an argument

In a command economy, a cotton farm floods after a heavy storm. The repair work most likely will be paid by

What are some benefits to private ownership? Select three answers.Private ownership provides offices for government workers.Private ownership provides land or goods for all citizens to use.Private ownership can make it possible for a business to earn money.Private ownership might help a person move to another economic class.Private ownership allows a person to own goods that may increase in value.

The government has the right to own all land, buildings, and factories in a

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This graph shows the US unemployment rate from August 2010 to November 2011. This graph could help the US government

In a competitive market, an electronics company releases a smartphone that is much faster than older models. This is an example of

In the free-enterprise system of the United States, the government

How do economists use data? Choose two answers.to follow and predict unemployment ratesto communicate with customers instantlyto ship goods to countries all over the worldto explain trends in production and shippingto apply automation to reduce production costs