THIS IS With Your Host Test Tomorrow How

THIS IS

With Your Host. . .

Test Tomorrow, How Exciting! 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500

The government may take private property by ______, but it must compensate owners. A 100

Eminent domain A 100

Why has America been referred to as the “land of opportunity”? a. It provides anyone the possibility of success through hard work. b. It provides jobs for all citizens. c. It provides farmers farmland without levying taxes on the land. It provides money for all citizens. A 200

C 1 A 200

In what way does the Bill of Rights protect individuals’ freedom to engage in business activities? a. It recognizes property rights. b. It denies the government the ability to regulate commerce. c. It provides free contracts. d. It provides each industry with a competitive edge. A 300

A, 5 th amendment private property rights A 300

What is considered a negative effect of government regulations? a. They cut into company profits. b. They stifle competition. c. They cause higher prices for consumers. d. All of the above. A 400

D A 400

What is the profit motive? a. exchange of goods b. money that a business makes c. opportunity for success d. incentive to make money A 500

D A 500

Business cycles occur in free enterprise systems because a. government policy creates cycles. b. the efficiency of workers is not the same from season to season, but fluctuates on a regular basis annually. c. the standard of living is very high. d. economic decisions about factors such as prices, production, and consumption are determined by the market. B 100

D B 100

Improved technology helps create a higher standard of living for future generations by a. preventing drastic shifts in general price levels. b. creating specialized jobs for workers. c. reducing the number of unemployed workers d. providing additional goods and services. B 200

D B 200

Which are the government’s three goals for promoting economic strength? a. high employment, steady growth, and stability b. high employment, increased spending, and low taxes c. low unemployment, low prices, and low taxes d. steady growth, high prices, and innovation B 300

A B 300

Why do public goods demonstrate the limitations of a free market economy? a. They allow consumers to make all of the economic decisions. b. They allow government to make some economic decisions. c. They allow governments to control most economic decisions. d. They prevent consumers from making economic decisions. B 400

B B 400

Why are public goods examples of market failure? a. b. c. d. They show that the free enterprise system does not work. They show that competition in the free market is dangerous. They show that the private sector is more efficient than the public sector. They show that the free market cannot distribute certain resources efficiently. B 500

D B 500

Which is a positive externality of a new high school? a. more traffic on the roads b. student purchases at nearby stores c. a raise in property taxes d. more noise in the neighborhood C 100

B C 100

The most common in-kind benefits are a. b. c. d. coupons, food stamps, subsidized housing, and legal aid. food giveaways, food stamps, housing reimbursements, and legal aid. food giveaways, food stamps, subsidized housing, and tuition reimbursements. C 200

B C 200

When did the nation’s welfare system begin? a. during the Civil War b. during the Great Depression c. during the War on Poverty d. during World War I C 300

B C 300

DAILY Place A Wager DOUBLE C 400

What is the biggest difference between a command free market economy? C 400

Who answers the three economic questions: command- government, Free market- producers and consumers C 400

In a free enterprise system, what is the most common way that consumers make their desires known to businesses? a. e-mailing or texting the companies b. protesting and boycotting products c. d. buying or not buying products hiring lobbyists to speak for them C 500

C C 500

Under a system of voluntary exchange, final decisions are made by a. producers. b. consumers. c. the government. d. free riders. D 100

B D 100

A new runway has opened up at the airport, and citizens complain to local officials that the noise of the airplanes is disturbing their neighborhood. The noise is an example of a a. positive externality. b. free-rider problem. c. negative externality. d. market failure. D 200

C D 200

Why does the government protect inventors and authors by offering them patents and copyrights? a. to encourage free trade b. to promote innovation c. to regulate the business cycle d. to strengthen American culture D 300

B D 300

Why has the federal government passed laws requiring businesses to disclose product information to the public? a. to make buyers more knowledgeable and safer b. to make it hard for businesses to make an excess profit c. to make it easier for consumers to own property d. to make it easy for businesses to have good information D 400

A D 400

You will still be able to get a public broadcasting channel even though you did not contribute to its fundraising campaign. This is an example of a. an in-kind benefit. b. a market failure. c. a negative externality. d. a free-rider problem. D 500

D D 500

Macro v. Micro economics E 100

Micro- local state economy Macro- whole nation E 100

Question Number Two E E 200

Correct Response Two E E 200

Question Number Three E E 300

Correct Response Three E E 300

Question Number Four E E 400

Correct Response Four E E 400

Question Number Five E E 500

Correct Response Five E E 500

The classification of Mammals with pouches F 100

What are Maruspials? F 100

This second largest bird in the world is native to Australia F 200

What is the ostrich? F 200

Australia’s wild dogs F 300

What are dingos? F 300

This Australian island is the home of a devil and a wolf F 400

What is Tasmania? F 400

Although the National Bird of New Zealand, it is also indigenous to Australia F 500

What is the Kiwi? F 500

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