Why did the Luddites try to stop the introduction of machines into the American workplace?

It threatened their work in the textile industry

What role do taxes play in the American economy?

Assist in regulating goods and income flow

Who/What controls prevailing market forces?

Both the government & the people

What effect did credit cards have on the American economy?

Americans began spending more than they earned

Why are social safety nets, like Social Security and Medicaid, seen as necessary in America?

The government plays a role in the American economy, America is not a complete free market

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The American Economy

10 termsStudBud Administration103,309 plays

Think the economy is boring? Think again! Test your knowledge about one of the most important aspects of the United States. #money #civics #economy #highschool #middleschool #socialstudies #law #congress #banks #federal #government #unitedstates #america

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Questions 10

Answers

1
Why did the Luddites try to stop the introduction of machines into the American workplace?
It threatened their work in the textile industry
All of their jobs would be lost to machines
It meant they had to work harder to compete with machines
They didn't want to learn how to work the machines
2
In order for North Korea to become a free market economy, what would have to change?
Open internet policies
Market deregulation
A new state leader
Opportunity for prosperity
3
George Washington believed charitable giving should replace a government safety net.
True
False
4
Money is a form of what:
Product
Entrepreneurship
Voting
Free Speech
5
What role do taxes play in the American economy?
Put money into government agencies
Stimulate the market
Give citizens ownership over the government
Assist in regulating goods and income flow
6
Steve Jobs, and the Apple empire he created, is an example of what capitalist property?
Free Market
Innovation
Entrepeneurship
Prosperity
7
Who/What controls prevailing market forces?
Government
People
The federal bank
Both the government & the people
8
What effect did credit cards have on the American economy?
More companies created higher end goods
Americans began spending more than they earned
Buying online became possible
Banks did not hold as much cash as before
9
Farmers in the US are able to have a relatively steady income due to:
Government subsidies
Stock prices
New technology
Constant demand for food
10
Why are social safety nets, like Social Security and Medicaid, seen as necessary in America?
They help people get back on their feet
After enacting them, they are too complicated to repeal
The government plays a role in the American economy
America is not a complete free market

The American Economy Flashcards | StudBud

The American Economy

10 termsStudBud Administration103,309 plays

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Why did the Luddites try to stop the introduction of machines into the American workplace?
It threatened their work in the textile industry
All of their jobs would be lost to machines
It meant they had to work harder to compete with machines
They didn't want to learn how to work the machines
2
In order for North Korea to become a free market economy, what would have to change?
Open internet policies
Market deregulation
A new state leader
Opportunity for prosperity
3
George Washington believed charitable giving should replace a government safety net.
True
False
4
Money is a form of what:
Product
Entrepreneurship
Voting
Free Speech
5
What role do taxes play in the American economy?
Put money into government agencies
Stimulate the market
Give citizens ownership over the government
Assist in regulating goods and income flow
6
Steve Jobs, and the Apple empire he created, is an example of what capitalist property?
Free Market
Innovation
Entrepeneurship
Prosperity
7
Who/What controls prevailing market forces?
Government
People
The federal bank
Both the government & the people
8
What effect did credit cards have on the American economy?
More companies created higher end goods
Americans began spending more than they earned
Buying online became possible
Banks did not hold as much cash as before
9
Farmers in the US are able to have a relatively steady income due to:
Government subsidies
Stock prices
New technology
Constant demand for food
10
Why are social safety nets, like Social Security and Medicaid, seen as necessary in America?
They help people get back on their feet
After enacting them, they are too complicated to repeal
The government plays a role in the American economy
America is not a complete free market