Duplicate of American Free Enterprise Economy

Question 1

A federal program of disability & retirement benefits that covers most working people

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Social Security

Question 2

Producing more fuel-efficient cars when gasoline prices rose is an example of:

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adaptability

Question 3

An effort by state govts to provide economic security is

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unemployment compensation

Question 4

A rise in the general level of prices of all goods & services is

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inflation

Question 5

A federal health insurance program for senior citizens

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Medicare

Question 6

National defense and the court system are examples of the Government playing the sub-role of

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provider

Question 7

"Supply-side tendencies" is another way of saying:

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mergers

Question 8

An increase in a country’s productive capacity

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economic growth

Question 9

The "Catalyst" of free enterprise

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entrepreneurs

Question 10

Assures that newer, better, & less expensive products are continually put on the market

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competition

Question 11

NOT one of the interchangeable terms used to describe the US economy

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traditional

Question 12

revenue minus costs =

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profit

Question 13

Resources are:

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scarce

Question 14

Laws against false & misleading advertising are examples of the govt acting in its sub-role as

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protector

Question 15

NOT one of the roles of Government in a free enterprise economy

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agent

Question 16

The act of buyers & sellers freely & willingly engaging in market transactions

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voluntary exchange

Question 17

Dave changes jobs. This is an example of:

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economic freedom

Question 18

The minimum wage is an example of the govt's efforts to provide

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economic equity

Question 19

An economic system where private citizens own and use all of the 4 factors of production

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capitalism

Question 20

The most powerful means for generating wealth the world has ever seen

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capitalism

Questions 20