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CE 13 Review #1
Test Description: SOL Review for CE 13
Instructions: Answer all questions to get your test result.
1) Which is not a way that the government promotes marketplace competition?
A
enforcing anti-trust legislation
B
engaging in global trade
C
increasing taxes
D
supporting new businesses
2) Which of the following is NOT one of the three agencies created by the government to protect consumers?
A
Federal Communications Commission
B
National Rifle Association
C
Environmental Protection Agency
D
Federal Trade Commission
3) Who uses taxes, borrowed money, and fees to pay for public goods and services?
A
Businesses
B
Individuals
C
The U.S. government
D
The banks
4) Which statement best explains why the government provides public goods and services?
A
To benefit only small groups of people in certain areas of the U.S.
B
To compete with the private businesses
C
To provide goods and services that would not be available if individuals had to provide them
D
To make a large profit
5) Which of the following is NOT a public good or service provided by the government?
A
Gas station
B
Public libraries
C
Police and Fire Departments
D
Post office
6) Which amendment authorizes Congress to tax personal and business incomes?
A
16th
B
1st
C
14th
D
5th
7) Which of the following is NOT one of the ways the government influences economic activity?
A
Taxing
B
Doing nothing
C
Borrowing
D
Spending
8) The central bank of the United States that acts as the federal government’s bank is the...?
A
Environmental Protection Agency (EPA)
B
Internal Revenue Service (IRS)
C
Federal Reserve System (Fed)
D
Federal Trade Commission (FTC)
9) One goal of the Federal Reserve is to...?
A
Keep inflation high
B
Ensure the stability of the banking system
C
Give tax money to the government
D
Raise taxes
10) The right of private ownership is protected by...?
A
Federal Reserve
B
1st Amendment
C
Negotiated contracts
D
Federal Trade Commission
*select an answer for all questions
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