Question

Please help with these questions

Answer 1

2. The political cartoon suggests that the Federal Reserve Board relies on one main strategy to address major economic issues. That strategy is lowering rates. The cartoon shows a list of problems like a weak economy, terrorist attack, bank bust and even other and their decision for aid is simply lowering rates. Lowering rates means making credit more accessible and in a way decreasing the price of money.

3. Increased competition, such as free trade zones, impact supply and demand in the following way: the price of goods goes down due to an increase in supply. It means that when there is more of a good and the demand is relatively stable, more competition leads to lower prices. In general, whenever there is more supply than demand a good becomes cheaper and when there is less supply than demand the good becomes more expensive.

4. Communism and Socialism are command economies. In these two systems, the government regulates the production and price of the goods. It also decides on investment and incomes. A command economy is the opposite of a free market, in which the market determines the amount that should be produced of a given good and its price.

Answer 2

Alright, I don’t normally answer on here but these answers are almost no where to be found.

If this is for the “Comparative Government and Economic Systems Practice” then here are the answers (just took it):

1) A
2) D
3) D
4) B & E
5) B
6) A
7) D
8) C
9) D
10) D
11) C