Would someone mind checking my answers? Thanks! (Answers at bottom) And if anyone is willing to explain the final two questions to me and maybe help, thatd be much appreciated.
1.) "In the late nineteenth century, political leaders in the United States gradually became convinced that certain monopolies were stifling competition and interfering with the free market. They were especially concerned about a type of monopoly called a trust. A trust exists when several corporations in the same line of business work together to eliminate competition from the market and regulate prices. By the latter part of the nineteenth century, trusts had gained tight-fisted control over the markets for petroleum, steel, coal, beef, sugar, and other commodities."
How did the federal government respond to this concern during the late 1800s and early 1900s?
A. The federal government took property away from the corporations that had created monopolies and trusts.
B. The federal government passed laws banning monopolies and trusts to prevent the restraint of competition.
C. The federal government took over the industries that had been completely stifled by monopolies and trusts.
D. The federal government ratified an amendment that prevents large corporations from merging into monopolies and trusts.
2.) . . . the father of modern socialism and communism, [he] was the most significant critic of capitalism as it developed during the early Industrial Revolution. He envisioned a society where social classes would vanish and the people would own all property in common.
Whom does this excerpt describe?
A. Karl Marx
B. Adam Smith
C. Josef Stalin
D. Mao Zedong
3.) An increasing Department of Defense budget is an example of what kind of spending?
A. mandatory
B. entitlement
C. discretionary
D. uncontrollable
4.) Under which of the following circumstances might the United States decide to eliminate tariffs on a particular import from another country?
A. if the item cannot be produced in the United States
B. if the United States has a trade deficit with the country
C. if the U.S. economy is booming
D. if the country is not an ally of the United States
5.) Based on The Communist Manifesto, Karl Marx and Friedrich Engels would support which of the following?
A. a 10 percent income tax on all citizens
B. the expansion of investment firms from national to international
C. censorship by the government on all print, radio, and television media
D. a strike by coal workers for improved conditions
6.) Why is the government-debt-to-GDP percentage a valuable measurement?
A. It gives information about how much each citizen would have to pay if individual citizens were to pay off the government debt.
B. It gives information about how much money the government owes compared to how much the nation produces in goods and services.
C. It gives the president information about how much money to use in the nation’s defense.
D. It gives information about how many foreign nations have control over the GDP.
7.) What is the role of the Securities and Exchange Commission (SEC)? How does it influence the economy?
8.) Explain the difference between capitalism and communism. What role does the government play in each type of economic system?
1. D
2. A
3. C
4. A
5. D
6. B
7. -
8. -
B
A
C
C
A
A
Purrr Latanya bestie is correct purr Periodt thank you bestie mwah
Latanya is correct
To check the answers and explain the final two questions:
1. The correct answer is D. During the late 1800s and early 1900s, the federal government in the United States ratified an amendment that prevents large corporations from merging into monopolies and trusts. This amendment is known as the Sherman Antitrust Act, which was passed in 1890. It aimed to promote competition by prohibiting anti-competitive practices such as monopolies and trusts.
2. The correct answer is A. The excerpt describes Karl Marx, who is considered the father of modern socialism and communism. Marx was a significant critic of capitalism during the early Industrial Revolution and envisioned a society where social classes would vanish and the people would own all property in common.
Now let's explain the last two questions:
7. The Securities and Exchange Commission (SEC) is a regulatory agency in the United States that oversees and enforces securities laws. Its primary role is to protect investors and maintain fair and efficient markets. The SEC requires companies to disclose accurate and complete information, and it regulates the activities of stock exchanges, brokers, investment advisers, and other participants in the securities market. The SEC's influence on the economy is mainly through its regulation and enforcement of laws that govern investments and financial transactions. By ensuring fair practices and transparency, the SEC aims to promote confidence and stability in the financial markets.
8. Capitalism and communism are two distinct economic systems with different perspectives on ownership and the role of government.
In capitalism, individuals, private businesses, and corporations have ownership and control over the means of production and capital. The main principle is the pursuit of individual or corporate profit. Competition serves as the driving force for economic growth, and the market determines the allocation of resources and prices. The government's role in capitalism is generally limited to maintaining law and order, enforcing contracts, protecting property rights, and ensuring fair competition.
In communism, the means of production and capital are owned and controlled collectively by society as a whole. The primary principle is the common ownership of resources and the absence of social class distinctions. In a communist system, the government or a centralized authority plays a prominent role in planning and controlling economic activities. The government distributes resources and determines production quotas, prices, and wages with the goal of achieving social equality.
Please note that these explanations provide a brief overview of the concepts and there may be more complexities and variations in their implementations.
1. D - no
2. A - yes
3. C - yes
4. A - yes
5. D - yes
6. B - yes
7, https://www.sec.gov/Article/whatwedo.html
8. http://www.differencebetween.net/miscellaneous/difference-between-communism-and-capitalism/