Question

Please answer all of the following multiple choice questions... Thankyou!

1.

International officials and business leaders have gathered to discuss free-trade policies. Outside their summit, protesters shout, "People before profit." These activists most likely align with which economic theory? (5 points)

	Adam Smith's unregulated supply and demand
	John Maynard Keynes's limited government intervention
	John Maynard Keynes's mixed market forces
	Karl Marx's collapse of capitalism

2.

Marx would most likely support a plan for (5 points)

	government ownership of most production
	creating a worldwide free trade agreement
	eliminating income taxes on the wealthy
	income taxes based on ability to pay

3.

Supply and demand determines prices levels for goods and services in a (5 points)

	market economy
	traditional economy
	demand economy
	command economy

4.

Which of the following describes a developed/advanced nation? (5 points)

	A high gross domestic product and a low per capita income
	A high Human Development Index and a high per capita income
	A low gross domestic product and a low standard of living
	A low Human Development Index and a high standard of living

5.

Development may be inhibited in command economies because (5 points)

	government controls productivity
	businesses focus on subsistence agriculture
	businesses prevent specialization
	individuals prohibit industrialization

6.

Which of the following economic goals focuses on funding technological advances in production? (5 points)

	Efficiency
	Equity
	Freedom
	Security

7.

The government institutes a new job-training program to prepare economically disadvantaged citizens for higher-paying, technologically advanced jobs. This action benefits the goal of equity by (5 points)

	ensuring workers are more productive
	helping minimize the education gap
	raising government spending
	reducing unemployment