ECO (2.43) Goals of Free Enterprise Quiz

1. A rise in the general level of prices of all goods & services is called what?

• stagnation
• inflation
• deflation
• recession

2. What is the name of the STATE health insurance program for persons who can’t afford healthcare?

• Social Security
• Medicare
• Medicaid
• SNAP

3. Equal pay for equal work is an example of which of the 7 major economic goals of free enterprise?

• price stability
• economic security
• economic freedom
• economic equity

4. Inflation is especially hard on what group of people?

• legal immigrants
• illegal immigrants
• recent college graduates
• people on a fixed income

5. The wise use of scarce resources & factors of production describes which of the 7 major economic goals of free enterprise?

• economic growth
• economic efficiency
• full employment
• economic freedom

6. The situation where unemployment among capable workers is as close to 0% as possible describes which of the 7 major economic goals of free enterprise?

• economic growth
• economic efficiency
• full employment
• economic security

7. What is the name of the FEDERAL health insurance program for senior citizens?

• Social Security
• Medicare
• Medicaid
• SNAP

8. The situation that exists when general price levels don’t change much over time describes which of the 7 major economic goals of free enterprise?

• price stability
• economic security
• economic freedom
• economic efficiency

9. Protection from harmful economic events, like layoffs, illnesses, injuries, and disabilities describes which of the 7 major economic goals of free enterprise?

• price stability
• economic security
• economic freedom
• economic equity

10. What is the name of the FEDERAL program of disability and retirement benefits that covers most working people?

• Social Security
• Medicare
• Medicaid
• SNAP