1.
People or groups who combine resources to make goods or services are called:
2.
This is what is given up when an economic decision is made.
A. 
B. 
C. 
D. 
3.
The condition that results from unlimited economic wants and limited resources is called:
A. 
B. 
C. 
D. 
4.
People who use resources, goods, or services to satisfy their economic wants are:
5.
The quantities of resources, goods, or services that will be PURCHASED at a various prices is the:
6.
The quantities of resources, goods, or services that are OFFERED for sale is the:
7.
"Inflation not expected to be a problem this year." The headline above affects which economic indicator the most?
8.
"Enron Corporation Fires 5,000 Employees"The headline above affects which economic indicator the most?
9.
'Ford to produce fewer sports utility vehicles (SUVs) this year' The headline above affects which economic indicator the most?
A. 
B. 
C. 
D. 
10.
'Prices for consumer goods down 5% this year!' The headline above affects which economic indicator the most?
11.
'Business investment in capital goods (machinery for production) rises.' The headline above affects which economic indicator the most?
12.
'More opportunities for recent graduates to find jobs!' The headline above affects which economic indicator the most?
13.
Fiscal policy is controlled by the President and Congress
14.
Open-Market Operations involves the Federal Reserve buying and selling bonds.
15.
This economic problem refers to the overall increase in price level.
A. 
B. 
C. 
D. 
16.
Who is included in the unemployment rate?
A. 
Those who are actively seeking work but cannot find a job
B. 
Part time workers who wish to work full time
C. 
Those who have given up in looking for a job
D. 
17.
The picture above is mainly concerned with:
A. 
How the economy has grown throughout the years
B. 
The tax revenues of the country
C. 
The price of consumer goods
D. 
The tariffs placed on imports
18.
"Unemployment at an all time high!"Which of these would be an example of proper fiscal policy in this situation?
A. 
Lowering taxes and increasing government spending
B. 
Raising taxes and decreasing government spending
C. 
Raising the discount rate offered to banks
19.
"United States sets a high tax on imported oil!"Which of these would be a reason why the U.S. create this policy?
A. 
To protect the U.S. oil industry
B. 
To decrease the cost of oil
C. 
To allow for free trade of oil
20.
The role of government is limited/non-existent in a market economy
21.
In a command economy, what to produce is decided by consumer choice.
22.
In the United States, a combination of command, traditional, and market forces guide economic decisions.
23.
Private ownership of business is a key characteristic of a market economy.
24.
In a market economy, decisions about what to produce are made by consumers and producers.