Economics Quiz

What type of economic system does the United States have?

• Mixed economy

• Free enterprise system

• Command economy

• Traditional economy

What is an example of government involvement in the U.S. economy?

• Setting a minimum wage

• Allowing free trade

• Encouraging entrepreneurship

• Promoting exports

What is an example of economic freedom in the U.S.?

• Government setting prices

• Entrepreneurs needing permission to start a business

• Farmers deciding what crops to grow

• Government controlling all businesses

What is the key takeaway about the U.S. economy?

• The government makes all decisions

• Individuals and businesses make most decisions

• There is no government regulation

• The economy is entirely controlled by foreign investors

What do Swedish citizens receive in return for paying higher taxes?

• Free or low-cost medical care, college, and public transportation

• Free housing and food

• Free vacations and entertainment

• Free business grants

What is an example of a social service provided by the Swedish government?

• Free internet access

• Free or low-cost medical care

• Free luxury cars

• Free international travel

What role does the government play in a free enterprise system?

• No role at all

• Limited role to ensure fairness and safety

• Complete control over all businesses

• Only in international trade

What is one way the government protects consumers in the U.S.?

• By setting a minimum wage

• By requiring food companies to list ingredients and expiration dates

• By controlling all prices

• By providing free goods

What is guaranteed to workers in Sweden each year?

• Paid vacation days

• Free healthcare

• Annual bonuses

• Housing allowance

What can Swedish citizens open as part of their economic freedom?

• Government offices

• Restaurants and clothing stores

• Public schools

• Hospitals