Econ Most Missed

Front

In what way does the event of the headline affect the circular flow model?

Back

Firms and households would incur higher expenditures.

Front

Which characteristic of the U.S. free enterprise system creates the incentive to work, save, and invest? Options: Social Security system, Voluntary exchanges, Private property ownership, Consumer sovereignty

Back

Private property ownership

Front

One result of competition in a free enterprise system is —

Back

lower prices for products

Front

One of the benefits of the U.S. free enterprise system is the —

Back

amount of choices for consumers

Front

Which of the following is most characteristic of the U.S. free enterprise system?
Government price controls,
Nationalization of energy companies,
Markets that respond to consumer demand,
Public ownership of the factors of production

Back

Markets that respond to consumer demand

Front

Based on the information on the table, which economic condition is characteristic of all three nations? Options: Low GDP per capita, High levels of inflation, Low inflationary levels, High levels of unemployment

Back

Low inflationary levels

Front

An expansionary period in the business cycle is distinguished by —

Back

low unemployment

Front

In the U.S. free enterprise system one of the primary roles of the government is to —

Back

ensure the safety of products through regulation

Front

The Federal Reserve Act of 1913 created a banking system in the United States with the responsibility of —

Back

regulating of monetary policy in the United States

Front

The Federal Reserve System designed in the manner described above resulted in the creation of—

Back

a decentralized system of banks