Fiscal / Domestic / Foreign Policy

Fiscal / Domestic / Foreign Policy

9th - 12th Grade

29 Qs

quiz-placeholder

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Fiscal / Domestic / Foreign Policy

Fiscal / Domestic / Foreign Policy

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Steven Bagshaw

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system relies on customs and traditions to answer the basic economic questions?

Command

Mixed

Market

Traditional

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy, how are decisions about what to produce typically made?

By consumers and producers through supply and demand

By the government

By cultural traditions

By elected officials

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does scarcity affect government decision-making?

Governments can always meet all needs and wants.

Governments must prioritize resources to address competing demands.

Scarcity does not influence government policies.

It encourages government policies to be less efficient.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do mixed economies differ from command economies?

Mixed economies combine government control with market freedom.

Mixed economies have no government involvement.

Mixed economies only operate in socialist countries.

Mixed economies are based entirely on traditional systems.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following measures changes in the cost of living over time?

Gross Domestic Product (GDP)

Consumer Price Index (CPI)

Unemployment rate

Business cycle

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the GDP measure?

The inflation rate

The total value of goods and services produced in a country

The cost of living

The level of government debt

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a period of declining economic activity called?

Inflation

Expansion

Recession

Peak

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