|
When compared to a mixed-market economy, a command economy typically has |
a much smaller wealth gap. |
|
What is the best definition of ownership? |
Ownership is the right to possess land or goods |
|
A wealth gap is an economic difference between |
classes. |
|
In a mixed market economy, property owned by an individual |
can help promote personal wealth. |
|
What is one argument in favor of the wealth gap? |
Investments by the upper class create lower-class jobs. |
|
From 2001 to 2011, unemployment in the United States |
sharply increased. |
|
The difference in income between the richest and poorest citizens is called the |
Wealth Gap |
|
What is one argument against the wealth gap? |
Economic growth will likely decline over time. |
|
Private property is land or goods |
owned by an individual. |
|
Based on this graph, how much wealth did the top 20 percent of the population hold? |
about 35 percent ? Wrong 55 percent . Wrong |
|
is the act of working in exchange for an income. |
Employment |
|
Gabriela owns a company that makes silk scarves. She buys the silk from an overseas supplier and is subject to a tax on imported goods. Gabriela most likely lives in |
a mixed market economy with some government regulation. |
|
What is one possible effect of high unemployment in a mixed market economy? |
A lack of income will weaken the buying power for many people. |
|
How can the government reduce the wealth gap in a mixed market economy? |
The government can improve education to provide new opportunities for workers in the lower class. |
|
Based on this graph, what can be concluded about the economy between 1991 and 2008? |
The economy was getting stronger because employment was high. |
Share This
Flashcard
