Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following is an example of a market economy?
Which of the following is an example of a market economy?
- A country where individuals and businesses make their own economic decisions (correct)
- A country where the government sets the prices for all goods and services
- A country where the government owns all land and resources
- A country where the government controls all industries
What is the purpose of taxation in an economy?
What is the purpose of taxation in an economy?
- To fund government programs and services (correct)
- To discourage economic growth
- To increase income inequality
- To decrease government revenue
What is the role of the Federal Reserve in the United States economy?
What is the role of the Federal Reserve in the United States economy?
- To regulate international trade
- To control the stock market
- To manage the nation's monetary policy (correct)
- To determine tax rates
Which of the following is an example of a command economy?
Which of the following is an example of a command economy?
Signup and view all the answers
What is the main goal of fiscal policy?
What is the main goal of fiscal policy?
Signup and view all the answers
What is the law of demand?
What is the law of demand?
Signup and view all the answers
