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1.
Where was the world's first stock exchange established?
2.
What do Bull and Bear symbolize?
Capitalism and Socialism
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3.
What is a goal in mercantilism?
To export more than to import
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To put money into circulation
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4.
Why does free market economy work, according to Adam Smith?
Because everyone cares for his/her own profit
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Because the most able end up controlling everything
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Because people care for each other
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5.
Which decade is most associated with "Economic Miracles" that took place in Germany, Italy, Japan, and other countries?
6.
What is stagflation?
High inflation + high unemployment
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Pay raises that match inflation
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7.
Until 1971, the US Dollar was convertible to which metal?
8.
What is a key concept of Keynesianism?
Governments should actively stimulate the economy
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The unemployed should be forced to work for benefits
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The state should only have a bare minimum of tasks
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The ideas of John Maynard Keynes played a major role in Franklin D. Roosevelt's New Deal policies of the 1930s and 40s.
9.
Where did Karl Marx believe would socialist societies first emerge?
In the poorest and most oppressed countries
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In highly developed countries
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In the whole world at once
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He thought that capitalism first had to squeeze out its positive effects, before inevitably collapsing after severe crises.
10.
What is the name for a famous group of free market advocates, among them Milton Friedman?
11.
Which bank played a major role triggering the 2008 Great Recession when it filed for bankruptcy?
12.
What is measured when one speaks of economic growth of a country?
The median income of its population
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The market value of the goods it has produced
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The budget surplus it has acquired
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13.
Since the 1950s, how has the top tax rate in the United States changed?
It has been increased continually.
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It has been lowered continually.
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During the Eisenhower presidency, the top marginal tax rate stayed around 90%.
14.
Who was usually taxed in ancient Athens?
foreigners living in the city
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Many considered this an honor.