Economic Policy Test Questions with
Verified Answers Graded A
In a free enterprise system, governments address public problems through policy to ensure
that:
citizens' needs are met and protected.
economic operations of businesses are controlled.
workers earn more than workers in other countries.
the nation's level of productivity remains steady. - Ans -Citizens' needs are met and
protected.
A government's monetary policy is its plan to control:
taxation and spending.
prices.
workers' wages.
the money supply. - Ans -The money supply.
Which statements describe a free enterprise system? Check all that apply.
Citizens can own property.
The government employs all workers.
Supply and demand drives production.
Consumers and producers make their own decisions.
Citizens can accumulate wealth.
1
Page
The government sets prices and wages. - Ans -Citizens can own property.
, Supply and demand drives production.
Consumers and producers make their own decisions.
Citizens can accumulate wealth.
The graph shows the number of employed workers in the United States in nonfarm jobs
from 2008 to 2013.
The best conclusion that can be drawn from the graph is that the number of nonfarm jobs:
remained consistent over time.
started going down in 2008.
went up every year since 2008.
started going down in 2010. - Ans -Started going down in 2008.
Economic interdependence means that economic policies must balance the needs of:
all governments in the world.
governments, individuals, and businesses.
small businesses and large corporations.
both wealthy and poor individuals. - Ans -Governments, individuals, and businesses.
An organization whose members have a common cause for which they seek to influence
public policy is called an ________ _____. - Ans -Interest group
Read the scenario.
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Page
Verified Answers Graded A
In a free enterprise system, governments address public problems through policy to ensure
that:
citizens' needs are met and protected.
economic operations of businesses are controlled.
workers earn more than workers in other countries.
the nation's level of productivity remains steady. - Ans -Citizens' needs are met and
protected.
A government's monetary policy is its plan to control:
taxation and spending.
prices.
workers' wages.
the money supply. - Ans -The money supply.
Which statements describe a free enterprise system? Check all that apply.
Citizens can own property.
The government employs all workers.
Supply and demand drives production.
Consumers and producers make their own decisions.
Citizens can accumulate wealth.
1
Page
The government sets prices and wages. - Ans -Citizens can own property.
, Supply and demand drives production.
Consumers and producers make their own decisions.
Citizens can accumulate wealth.
The graph shows the number of employed workers in the United States in nonfarm jobs
from 2008 to 2013.
The best conclusion that can be drawn from the graph is that the number of nonfarm jobs:
remained consistent over time.
started going down in 2008.
went up every year since 2008.
started going down in 2010. - Ans -Started going down in 2008.
Economic interdependence means that economic policies must balance the needs of:
all governments in the world.
governments, individuals, and businesses.
small businesses and large corporations.
both wealthy and poor individuals. - Ans -Governments, individuals, and businesses.
An organization whose members have a common cause for which they seek to influence
public policy is called an ________ _____. - Ans -Interest group
Read the scenario.
2
Page
