Economic Systems and Daily Life Answers

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citizens✔ governmentsbusinesses

A
citizens
B
✔ governments
C
businesses
3

✔ lessmore equally

A
✔ less
B
more
C
equally
4

Use the drop-down menu to complete each statement.

Answers:
The amount of money you earn by working is your .:income
The percentage of people actively looking for a job is called .:unemployment
5

private publicprivate and public

A
private
B
public
C
private and public
6

incomewealth gapunemployment

A
income
B
wealth gap
C
unemployment
7

From 1981 to 2001, which change was most likely happening in the US economy?

A
a decrease in spending by consumers
B
an increase in the number of workers
C
an increase in spending by consumers
D
an increase in government intervention in the economy
8

What percentage of wealth belonged to the wealthiest 1 percent of US citizens in 2010?

A
about 53 percent
B
about 35 percent
C
about 11 percent
D
about 42 percent
10

incomethe wealth gap✔ unemployment

A
income
B
the wealth gap
C
✔ unemployment
11

Which descriptions did you include in your response? Check all that apply.

A
a description of a mixed market economy
B
a description of how mixed market economies can respond to challenges
C
a description of the economic choices allowed in a mixed market economy
13

Use the drop-down menu to complete each statement. The property in a mixed market economy likely is . Most of the property in command economies is owned by . The citizens of a command economy are likely to own property than citizens of a mixed-market economy.

Answers:
The property in a mixed market economy likely is .:private and public
Most of the property in command economies is owned by .:governments
The citizens of a command economy are likely to own property than citizens of a mixed-market economy.:less
14

citizens✔ governmentsbusinesses

A
citizens
B
governments
C
businesses
15

✔ lessmore equally

A
less
B
more
C
equally
41

From 1981 to 2001, which change was most likely happening in the US economy?

A
a decrease in spending by consumers
B
an increase in the number of workers
C
an increase in spending by consumers
D
an increase in government intervention in the economy
42

What percentage of wealth belonged to the wealthiest 1 percent of US citizens in 2010?

A
about 53 percent
B
about 35 percent
C
about 11 percent
D
about 42 percent

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