Sample

What are the major economic and social goals of the American free enterprise system? Choose one.

• To promote economic freedom and innovation, and enhance broad social welfare.

• To implement centralized planning and wealth redistribution.

• To eliminate competition in favor of a state-controlled economy.

• To restrict private enterprise and increase government oversight.

What does the term 'adverse' mean?

• Unfavorable or harmful

• Beneficial or good

• Neutral or indifferent

• Exciting or positive

The term 'accommodate' means ...

• to provide lodging or sufficient space

• to assimilate

• to obstruct

• to refuse

What is the lowest legal wage that can be paid to most workers called?

• Minimum wage

• Living wage

• Base wage

• Starting wage

Select the federal program of disability and retirement benefits that covers most working people:

• Social Security

• Medicare

• Supplemental Security Income

• Unemployment Insurance

The federal health insurance program for senior citizens, regardless of income is:

• Medicaid

• Medicare

• Tricare

• None of the above

The sustained rise in the general level of prices of goods and services is called Inflation.

• Inflation

• Deflation

• Stagnation

• Disinflation

Income that does not increase over time is called ____.

• Fixed income

• Variable income

• Dynamic income

• Rising income

Our economic goals may change over time due to evolving economic conditions and shifting societal priorities.

• Evolving economic conditions and shifting societal priorities

• Stable and unchanging market conditions

• Inflexible and fixed governmental policies

• Constant and predictable economic environments

The belief in economic freedom is similar to what belief?

• Belief in free market principles

• Belief in government regulation

• Belief in socialism

• Belief in state intervention