The federal government monitors and regulates American banks and other financial institutions:

shield money from the damaging effects of economic downturns

Which are the government’s three goals for promoting economic strength?

high employment, steady growth, and stability

Improved technology helps create a higher standard of living for future generations by:

providing additional goods and services

Business cycles occur in free enterprise systems because:

the market makes decisions such as price, consumption

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promoting Growth and Prosperity 3.2

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how the government promotes growwth & prosperity and why

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Questions 16

Answers

1
The federal government monitors and regulates American banks and other financial institutions:
shield money from the damaging effects of economic downturns
to keep prices stable
to improve the standard of living for all
to keep control over the economy
2
study of the overall economy
gross domestic product
microeconomics
business cycle
macroeconomics
3
Which are the government’s three goals for promoting economic strength?
high employment, increased spending, low taxes
high employment, steady growth, and stability
low unemployment, low prices, and low taxes
steady growth, high prices, and innovation
4
government license that protects and inventor’s rights
innovation
technology
patent
copyright
5
An economist who focuses on microeconomics might study which of the following?
inflation
household credit card debt
income
unemployment
6
the process used to produce a good or service
microeconomics
business cycle
patent
technology
7
government license that protects and author’s works
obsolescence
copyright
technology
patent
8
study of small units in the economy
microeconomics
business cycle
gross domestic product
macroeconomics
9
Policymakers pursue all of the following goals to stabilize the economy EXCEPT:
high employment
rising prices
stable productivity
steady growth
10
What is one way the government might try to promote economic growth?
reduce prices
produce more goods
raise taxes
increase spending
11
Improved technology helps create a higher standard of living for future generations by:
providing additional goods and services
reducing the number of unemployed workers
creating specialized jobs for workers
preventing drastic shifts in general price levels
12
What is one way new technology helps the United States improve its standard of living?
reduces unemployment
prevents sudden price changes
increases productivity
increase economic stability
13
total value of all final goods and services produced in a country in a given year
gross domestic product (GDP)
business cycle
macroeconomics
profit margin
14
pattern of economic growth and decline
microeconomic
gross domestic product (GDP)
macroeconomics
business cycle
15
the process by which older products and processes become out of date
out dated
obsolescence
copyright
patent
16
Business cycles occur in free enterprise systems because:
the standard of living is very high
the market makes decisions such as price, consumption
efficiency of workers is not the same from season to season,
government policy creates cycles

promoting Growth and Prosperity 3.2 Flashcards | StudBud