Economic Systems and Daily Life

Question 1

Based on the information in the passage, it is most likely that Joe lives in a economy.

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mixed market

Question 2

The building that Joe is interested in purchasing would be considered .

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private property

Question 3

is the right to possess something.

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Ownership

Question 4

is owned by the government, whereas is owned by individual citizens.

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private property

Question 5

From 1961 to 1965, unemployment was .

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decreasing

Question 6

In the mid-2000s through 2011, unemployment was .

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increasing

Question 7

How does a lack of full employment hurt the economy? Check all that apply.Unemployed people usually buy fewer things.Unemployed people may not be able to repay their loans.Unemployed people are not looking for jobs.Unemployed people have increased buying power.Unemployed people may have to change their financial goals.Unemployed people drawing unemployment benefits increase government spending.

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Unemployed people usually buy fewer things.; Unemployed people may not be able to repay their loans.; Unemployed people may have to change their financial goals.; Unemployed people drawing unemployment benefits increase government spending.

Question 8

is owned by the government, whereas is owned by individual citizens.

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Public property

Economic Systems and Daily Life Answers

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