WorksheetsEconomics Chapters 10-12 - Part 2
Total questions: 16
Worksheet time: 8mins
Who believed that government should pump money into an economy during recessions?
Reagan
Marx
Keynes
Roosevelt
Who attempted to lift the American economy out of its slump by implementing policies based on supply-side economics?
Reagan
Marx
Keynes
Roosevelt
Who increased governmental control of the economy during the Great Depression through the New Deal?
Reagan
Marx
Keynes
Roosevelt
What is it called when demand becomes greater than the supply, creating shortages?
cost-push inflation
demand-pull inflation
leading indicators
stagflation
What is it called when high inflation is combined with high unemployment?
cost-push inflation
demand-pull inflation
leading indicators
stagflation
Who is considered the Father of Communism?
Jefferson
Smith
Keynes
Marx
What divided city displayed the poverty and lack of freedom typically found in command economies?
Berlin
New York
Moscow
Paris
What event in 1917 began the rise of Communism?
Reign of Terror
American Revolution
Bolshevik Revolution
What term refers to a perfect society under Marxist ideas?
bureaucracy
utopia
Federal Reserve
monopoly
The Communist Manifesto was a pamphlet written to outline the Communist philosophy and describe the steps to establish Communism worldwide.
True
False
A recession is unusually severe and long-lasting.
True
False
According to Communism, the bourgeois must be overthrown.
True
False
Who wrote that the state ought to confine its activity to "everything that is truly and properly public"?
Edmund Burke
Karl Marx
Adam Smith
The CPI compares prices to a base period, which is arbitrarily set to 100%.
True
False
Communist governments forbid production in an effort to control distribution.
True
False
What are problems inherent in socialism? Why do people continue to accept socialistic policies in spite of the dangers?
Socialism is deceptive because its goals can sound noble and good; people often do not realize until too late that their political and economic freedoms have been taken away.
People are taken in by the idea that they can get "something for nothing". In reality, private individuals and businesses pay high prices for the programs sponsored by a socialistic government.
A government funds projects through raising taxes, increasing the money supply (and inflation), and going into debt - all of which are measures that harm an economy.
Socialism erodes personal freedoms. As a government increases its regulation of an economy, it limits the freedom people have to make their own decisions.
