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- 1. Multiple Choice
Many Native American tribes were known for using the entire animal rather than just the muscle meats. Excess body fat was rendered into lard. All the insides, such as heart, kidneys and liver, were prepared and eaten, roasted or baked or laid out in the sun to dry. The lungs were not cooked, just sliced and hung up to dry. Intestines were also dried.
This example best portrays which of the economic goals?
economic freedom
economic efficiency
economic growth
economic security
- 2. Multiple Choice
You have wanted an iPhone 12 since they announced that it will be released in October 2020. You save your money to buy one, even though your Galaxy S8 works just fine.
Which economic goal does this example best define?
security
equity
price stability
freedom
- 3. Multiple Choice
A Swedish citizen living in Stockholm was struck by a car on their bicycle commute to interview for a new job. Luckily they won’t have to pay the medical bills since the Swedish health care system is mainly government-funded and decentralized (although private health care also exists). They even gave her the prescriptions at no cost!
equity
security
freedom
efficiency
- 4. Multiple Choice
You finally opened your new restaurant last year and business is booming. It's been so busy every day that you recently had to hire 10 more employees and expanded to open up a patio on the roof with additional seating.
efficiency
growth
security
price stability
- 5. Multiple Choice
the desire to use resources to gain the most production at the lowest opportunity cost
economic equity
price stability
economic efficiency
full employment
- 6. Multiple Choice
A sense of economic fairness and justice
economic security
economic efficiency
economic equity
economic freedom
- 7. Multiple Choice
The desire of consumers and producers to make their own decisions
economic freedom
price stability
economic growth
economic efficiency
- 8. Multiple Choice
Preventing rapid inflation or deflation
economic growth
economic freedom
price stability
full employment
- 9. Multiple Choice
The desire to help people attain their basic needs
economic security
economic growth
economic efficiency
economic freedom
- 10. Multiple Choice
Social Security, Medicare, Medicaid, unemployment insurance and welfare programs (like SNAP & Pell Grants for education) are all meant to provide which economic goal?
freedom
security
growth
full employment
- 11. Multiple Choice
If the money the US made increased by 5% from 2018 to 2019, which economic goal was most likely achieved?
freedom
price stability
growth
equity
- 12. Multiple Choice
In 1964, U.S. inflation measured a little more than 1 percent per year. It had been the same over the previos six years. Inflation began increasing in the mid-1960s before it reached more than 14 percent in 1980.
Which critical economic goal did the Federal Reserve not maintain during this period?
price stability
security
- 13. Multiple Choice
During the height of the Great Recession in October 2009, the unemployment rate peaked at 10%. Which economic goal did the Federal Reserve not maintain during this Recession?
freedom
full employment
price stability
equity
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