Question 1
Why might government food subsidies be considered controversial?
They interfere in states rights
The USDA is forcing the consumer to eat imported foods
The USDA sets subsidies at random*
The USDA helps determine America's diet by promoting the growth of certain crops
Question 2
If the government were to set a price floor on milk they would be saying that?
Milk has to be sold at a very specific price.
Milk cannot drop below a certain price when it is sold.
The price of milk is free to fluctuate without any government interference.
Milk cannot go above a certain price when it is sold.*
Question 3
Please finish the sentence.
The biggest difference between a free enterprise economy and a communist/command economy is that in a free enterprise market economy ______________________________.
Mostly everyone works for the government in some shape and form.
Competition is eliminated, to give the economy a safe and stable playing field.*
The government is solely responsible for the economic health of the nation
The government does not play a role in the economic health of the nation
Question 4
Which of the following is an advantage of a socialist economy?
Holding controlled elections
Guarantee public welfare by providing retirement pensions, universal healthcare, free university education, and housing.*
Having no privately owned businesses
Government control of all land and housing
Question 5
Which of the following is an advantage of true free market economy?
Individuals can work in a field they choose
The government controls many sectors of the economy
Individuals are assigned a job in a specific field*
Competition does not exist which makes it easy for businesses to exist.
Question 6
Which of the following is MOST likely to cause deficit spending?
Entitlement programs
Payroll of congress
Food subsidies
Federal housing*
Question 7
Which of the following is NOT something the government does for farmers?
Pay farmers for growing a crop*
Set's price floors
Provide homeowners insurance
Sets subsidies
Question 8
Which of the following is part of the government's safety net or entitlement program?
Public education
Corn subsidies*
Medicare
Tax credits for first time home buyers
Answer 1:
Government food subsidies might be considered controversial because the USDA helps determine America's diet by promoting the growth of certain crops.
Answer 2:
If the government were to set a price floor on milk, they would be saying that milk cannot go above a certain price when it is sold.
Answer 3:
The biggest difference between a free enterprise economy and a communist/command economy is that in a free enterprise market economy competition is eliminated, to give the economy a safe and stable playing field.
Answer 4:
An advantage of a socialist economy is that it guarantees public welfare by providing retirement pensions, universal healthcare, free university education, and housing.
Answer 5:
An advantage of a true free market economy is that individuals can work in a field they choose.
Answer 6:
Federal housing is most likely to cause deficit spending.
Answer 7:
Paying farmers for growing a crop is not something the government does for farmers.
Answer 8:
Corn subsidies are part of the government's safety net or entitlement program.
Question 1: Government food subsidies may be considered controversial because they can interfere with states' rights, as they involve federal government intervention in the agricultural sector. Additionally, some argue that the subsidies provided by the USDA can influence and promote the consumption of certain crops, affecting the overall diet of Americans. However, it is not accurate to say that the USDA sets subsidies at random.
To get the answer to this question, one can research the purpose and effects of government food subsidies, including their potential advantages and disadvantages. This information can be found in reputable sources such as government websites, economic textbooks, and scholarly articles.
Question 2: If the government were to set a price floor on milk, it means that milk cannot go above a certain price when it is sold. This is aimed at protecting farmers by ensuring they receive a minimum price for their milk.
To obtain this answer, one can study the concept of price floors and their purpose in the economy. This information can be found in microeconomics textbooks, online economic resources, and government publications.
Question 3: The biggest difference between a free enterprise economy and a communist/command economy is that in a free enterprise market economy, competition is not eliminated. This allows for a dynamic and competitive marketplace where businesses can freely compete with each other.
To answer this question, one can study the fundamental principles and characteristics of free enterprise economies and communist/command economies. Comparative economic analysis, textbooks on economic systems, and reputable online sources can provide the necessary information.
Question 4: An advantage of a socialist economy is that it guarantees public welfare through providing retirement pensions, universal healthcare, free university education, and housing. These social safety nets are designed to ensure that basic needs and services are provided to all citizens.
To find this answer, one can research the principle objectives and characteristics of a socialist economy, specifically focusing on the provision of public welfare. This information can be found in economics textbooks, studies on different economic systems, and reputable sources on socialism.
Question 5: An advantage of a true free market economy is that individuals can work in a field they choose. In a free market, individuals have the freedom to choose their occupations and pursue their desired careers.
To obtain this answer, one can study the characteristics and advantages of a true free market economy, focusing on its emphasis on individual choice and competition. Economics textbooks, articles on market systems, and reliable online resources can provide the necessary information.
Question 6: Deficit spending is most likely caused by entitlement programs, as they require ongoing governmental expenditures to support the benefits provided to eligible individuals.
To answer this question, one can research the causes and factors contributing to deficit spending, including entitlement programs, payroll of Congress, food subsidies, and federal housing. This information can be found in government reports on budgetary issues, economic analyses, and reputable sources on public finance.
Question 7: Paying farmers for growing a crop is not something the government does for farmers. While the government may provide subsidies, engage in price floor regulation, and offer insurance programs for farmers, direct payment for growing a specific crop is not typically part of government support.
To get this answer, one can study the various forms of government assistance and programs for farmers, examining their purpose and operations. This information can be found in agricultural policies, government websites related to farming, and specialized publications on agricultural economics.
Question 8: Corn subsidies are part of the government's safety net or entitlement program. These subsidies provide financial support to corn farmers to help stabilize their income and ensure their economic well-being.
To find this answer, one can research the different types of entitlement programs and safety net measures implemented by the government, including corn subsidies. Information on these programs can be obtained from government publications, studies on agricultural policies, and reputable sources on government assistance programs.
I strongly suggest reading your text.
1. disagree
2. disagree (floors are down not up)
3. So very, very wrong :(
4. Wheww! YES !
5. Wrong
6. Read up on Entitlement programs.
7. Insurance ?
8. Maybe, not sure.