

Economic Goals and Systems Flashcard
Flashcard
•
Other
•
9th Grade
•
Practice Problem
•
Hard
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11 questions
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1.
FLASHCARD QUESTION
Front
A federal law requiring employers to pay workers at least a certain wage (minimum wage) supports the goal of:
Back
Security
2.
FLASHCARD QUESTION
Front
A sales tax on all goods would take a larger share of income from poorer families. Exempting food and clothing from the tax is mainly about:
Back
Equity
3.
FLASHCARD QUESTION
Front
Which of the following shows economic growth? A new Tesla factory opens and hires 2,000 workers. A man changes careers from teaching to construction. The price of gas increases suddenly. A company refuses to hire women for leadership positions.
Back
A new Tesla factory opens and hires 2,000 workers.
4.
FLASHCARD QUESTION
Front
When COVID-19 caused many Americans to lose their jobs in 2020, which economic goal became most important to protect? Options: Freedom, Security, Equity, Efficiency
Back
Security
5.
FLASHCARD QUESTION
Front
If the U.S. is able to produce large numbers of electric vehicles efficiently, but most consumers do not want them, then the economy is lacking:
Back
Allocative Efficiency
6.
FLASHCARD QUESTION
Front
Every morning you buy a $4 latte at a local café. The business is happy to sell it, and you are satisfied with your purchase. Which economic goal does this represent?
Back
Freedom
7.
FLASHCARD QUESTION
Front
Which of the following is considered an advantage of a command economy? Economic decisions are well coordinated. There are rarely shortages of needed items. Decisions do not cause hardship for people. The government tries to provide for all citizens.
Back
Economic decisions are well coordinated.
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