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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?
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What is the main goal of fiscal policy?
What is the main goal of fiscal policy?
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What is the law of demand?
What is the law of demand?
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