Jasmine M.
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Social Science Quiz on C.2 Economics, Skills #1-7 Knowledge Check, created by Jasmine M. on 11/02/2021.

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Jasmine M.
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C.2 Economics, Skills #1-7 Knowledge Check

C.2 Economics, Skills #1-7 Knowledge Check

Question 1 of 4

1

Who wrote The Wealth of Nations?

Select one of the following:

  • Bretton Woods

  • Adam Smith

  • Benjamin Franklin

  • Alexander Hamilton

Explanation

Question 2 of 4

1

Select from the dropdown list to complete the text.

In the United States both privately-owned companies as well as the government have important roles in the economy. This exemplifies a ( Mixed, Democratic, Traditional, Capitalist ) economy.

Explanation

Question 3 of 4

1

Congress has the responsibility for implementing monetary policy.

Select one of the following:

  • True
  • False

Explanation

Question 4 of 4

1

The universal economic goals of a society are ____________________.

Select one of the following:

  • decreased scarcity, improved economy, reduced wants, increased distribution

  • new goods, improved services, government involvement, market control

  • opportunity costs, production possibilities, traditional economy, demand

  • allocative efficiency, productive efficiency, full employment, equity

Explanation

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