In a free market society, businesses ask the government to make laws and policies regulating the economy.

Question

Is this statement true or false?

Responses

true
true

false
false

Answer 1

false

Answer 2

The United States economy has operated successfully with very little government interference.

Is this statement true or false?

Responses

true
true

false
false

Answer 3

true

Answer 4

The 16th Amendment was instituted following the Great Depression to provide a safety net for people who lost their jobs, were older, ill, handicapped, injured, or otherwise unable to work.

Is this statement true or false?

Responses

true
true

false

Answer 5

false

Answer 6

Which United States President was the first to enact legislation monitoring and regulating corporations who were unfairly cooperating together to influence market forces?
Responses

Theodore Roosevelt
Theodore Roosevelt

Franklin Roosevelt
Franklin Roosevelt

Woodrow Wilson
Woodrow Wilson

Thomas Jefferson

Answer 7

Theodore Roosevelt

Answer 8

Which of the following had the greatest impact on the development of capitalism in the United States?
Responses

Industrial Revolution
Industrial Revolution

The New Deal
The New Deal

Great Depression
Great Depression

Trust-Busting legislation

Answer 9

Industrial Revolution

Answer 10

Which of the following statements best describes President Roosevelt's New Deal?
Responses

strict Regulations of Finance companies and Banks
strict Regulations of Finance companies and Banks

large government investment in failing companies
large government investment in failing companies

creation of Government Agencies set up to create new jobs through funded projects
creation of Government Agencies set up to create new jobs through funded projects

all of the above

Answer 11

all of the above

Answer 12

Which of the following phrases best reflects the nature of true free market capitalism?
Responses

government regulated
government regulated

supply and Demand
supply and Demand

laissez-faire
laissez-faire

all of the above

Answer 13

laissez-faire

Answer 14

Which of the following agencies were put into effect during the Great Depression in order to stimulate the economy?
Responses

TVA (Tennessee Valley Authority)
TVA (Tennessee Valley Authority)

CCC (Civilian Conservation Corp)
CCC (Civilian Conservation Corp)

WPA (Works Project Administration)
WPA (Works Project Administration)

all of the above
all of the above

Answer 15

all of the above

Answer 16

President Roosevelt initiated a series of legislative moves to influence the economy during the Great Depression known by what name?
Responses

The New Deal
The New Deal

Price fixing
Price fixing

Trust-busting
Trust-busting

Black Tuesda

Answer 17

The New Deal

Answer 18

Which phrase best describes the philosophy of a capitalist economy?
Responses

economy with an unchanging and constant structure
economy with an unchanging and constant structure

economy based on the social welfare of the people
economy based on the social welfare of the people

economy defined by the political structure of the nation
economy defined by the political structure of the nation

economy free of social, political or cultural restraints

Answer 19

economy free of social, political or cultural restraints

Answer 20

Which of the following names symbolizes the most traumatic stock market event in United States history, demonstrating the volatile capacity of capitalism?
Responses

Black Friday
Black Friday

Black Tuesday
Black Tuesday

The Great Depression
The Great Depression

The Great Recession
The Great Recession

Answer 21

Black Tuesday

Answer 22

Which of the following are examples of historic disadvantages of capitalism in America?
Responses

boom and bust periods of market fluctuations
boom and bust periods of market fluctuations

labor strife and union strikes
labor strife and union strikes

disparity in wealth distribution
disparity in wealth distribution

all of the above

Answer 23

all of the above