AnswersHSA 26-27 EconomicsThe Business Cycle

Economic Policy Answers

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1
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The graph shows the number of employed workers in the United States in nonfarm jobs from 2008 to 2013.

Question illustration
A
The United States had the world’s weakest economy by 2010.
B
In today's economy, a country needs fewer workers to remain strong.
C
By 2012, the United States had solved its economic problems.
D
The United States faced an economic crisis that started in 2008.
3
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Country Q has experienced a rapid increase in its unemployment rate and a sharp decline in its GDP.What might policymakers do in the face of these economic indicators?

A
encourage a decrease in purchasing until employment figures increase
B
try to trade with other nations to increase production and create new jobs
C
increase taxes so the government has more money to spend
D
implement controls on wages, forcing employers to pay higher wages
4

What is a primary economic goal of governments?

A
reducing income inequality
B
maximizing individual freedoms
C
advancing technological innovation
D
protecting natural resources
5

Read the scenario.The citizens of Country D have noticed that the average prices of most goods within their nation have begun to rise. At the same time, employers are not raising wages at the same rate. The combination of these challenges has resulted in a decrease in overall demand, causing a decline in GDP.

A
the government of Country D
B
the enterprises of Country D
C
the businesses of Country D
D
the workers of Country D
6

Economic interdependence means that economic policies must balance the needs of

A
all governments in the world.
B
governments, individuals, and businesses.
C
small businesses and large corporations.
D
both wealthy and poor individuals.
7

The graph shows the number of employed workers in the United States in nonfarm jobs from 2008 to 2013.

Question illustration
A
remained consistent over time.
B
started going down in 2008.
C
went up every year since 2008.
D
started going down in 2010.
8

Read the scenario.The citizens of Country D have noticed that the average prices of most goods within their nation have begun to rise. At the same time, employers are not raising wages at the same rate. The combination of these challenges has resulted in a decrease in overall demand, causing a decline in GDP.

A
unemployment
B
stagflation
C
high production
D
high wages
9

In a free enterprise system, governments address public problems through policy to ensure that

A
citizens' needs are met and protected.
B
economic operations of businesses are controlled.
C
workers earn more than workers in other countries.
D
the nation's level of productivity remains steady.
10

The graph shows the number of employed workers in the United States in nonfarm jobs from 2008 to 2013.

Question illustration
A
reducing the size of its armed forces
B
laying off unnecessary workers
C
decrease taxes to increase consumers' money supply
D
encouraging people to travel overseas

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