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MEGA Marketing: Market System Economics & Politics Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Why is rewarding risk-taking an advantage to capitalism?

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Question 2 2. What is a government MOST likely to do to protect the interests of agricultural businesses?

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Question 3 3. What is a market economy?

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Question 4 4. Which of the following is the best explanation of a free market in the real world?

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Question 5 5. The rate banks pay to borrow money from the Fed is called the _____ rate.

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Page 2

Question 6 6. Which one of the following economic systems is characterized by state ownership of land and capital, but individuals remaining in control of their labor?

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Question 7 7. What economic ideology calls for all property, resources, and productions being publicly or state owned?

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Question 8 8. Why does a monopoly-based system result in a negative business environment?

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Question 9 9. The method of affecting the money supply that is used the least by the Fed is

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Question 10 10. Which of following are not funded by tax revenue?

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Page 3

Question 11 11. How should a government behave in a capitalist system?

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Question 12 12. The government's restriction and control over business practices is called _____.

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Question 13 13. All of the following are ways that the U.S. government promotes the economic interests of businesses, EXCEPT:

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Question 14 14. What determines the price of a good or service in a capitalistic economy?

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Question 15 15. In general, which of the following is NOT correct concerning how politics and regulation intersect?

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Page 4

Question 16 16. How does competition impact the economy?

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Question 17 17. A state-controlled economy is a:

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Question 18 18. Sunshine Solar receives a $2,000 reduction on its federal taxes for each solar-energy installation it performs. This is an example of a _____.

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Question 19 19. What is defined as the basic physical and organizational structures needed for the operation of a society?

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Question 20 20. What is the term for compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions?

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Page 5

Question 21 21. Which of the following best describes a free market?

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Question 22 22. _____ reduce the amount of taxable income a business has to report.

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Question 23 23. Which of the following is an example of an equity goal?

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Question 24 24. Which of the following is NOT true about how the government protects the U.S. economy?

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Question 25 25. Which one of the following statements is correct?

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Question 26 26. Which of the following economic systems is characterized by state ownership of all factors of production?

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Question 27 27. For three quarters in a row, economic growth increased by 3%, 5% and 7%. As it was close to the election, the government did not try to stabilize the growth. In the last quarter of the year, the economy drastically fell by 5%. Which of the following best describes such an occurrence?

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Question 28 28. In which of the following scenarios would it be a good idea for the government to implement a deflationary fiscal policy?

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Question 29 29. What type of economic system is one in which economic decisions, such as the production and pricing of goods, are based on supply and demand?

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Question 30 30. All of the following laws were meant to protect workers except

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MEGA Marketing: Market System Economics & Politics Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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