Economic Goals MainQuestion 70 / 10 points Two advantages of a market economy, as compared with a command economy are Question options: More limits on profits and more public goods More freedom and more efficiency More control over prices and wages More security and more equity Perfect and Monopolistic Competition MainQuestion 60 / 10 points Many companies sell different types of jeans. Some consumers prefer to use a specific brand because of its different kind of features like zippers, buttons, fit, and cut. This is an example of Question options: oligopoly. monopoly. pure competition. monopolistic competition. Calculating GDP MainQuestion 70 / 10 points Federal Government expenditures for the year were $425 billion and State and Local Government expenditures were $875 billion. If the GDP was $13 trillion what percentage of the GDP was make up of government expenditures? Question options: 20% 5% 10% 15% Fiscal Policy MainQuestion 20 / 10 points What is the effect of a rise in income tax on GDP? Question options: It increases GDP. It does not affect GDP. It decreases GDP. It could increase and decrease GDP. Question 60 / 10 points If a country has a balanced budget and the government increases government spending without increasing taxes, what should happen to the budget and the national debt? Question options: C D A B