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Government And The Economy 3
Test Description: Government and the Economy 3
Instructions: Answer all questions to get your test result.
1) In the United States economy, there is a circular flow of what three things between households, businesses, and markets?
A
Resources, goods, and interest
B
Resources, dividends, and taxes
C
Resources, stocks, and bonds
D
Resources, goods, and services
2) Some of the profits a business makes are often used to buy more
A
taxes
B
interest
C
goods and services
D
resources
3) In the United States economy, what do consumers buy from businesses?
A
Interest
B
Taxes
C
Resources
D
Goods and services
4) Savings and Loans, Credit Unions, and Banks are known as?
A
Private financial institutions
B
Economic Flow
C
Economic systems
D
Business ownerships
5) How do financial institutions obtain funds to give loans to consumers?
A
Local governments give tax revenues to the financial institutions.
B
The Federal Reserve makes more money for financial institutions to loan.
C
Government agencies loan money to the financial institutions.
D
Customers deposit money into the financial institutions.
6) What do financial institutions do with your deposits?
A
Put it in their vault
B
Place it in other banks for safe keeping
C
Keep it in security boxes
D
Make loans
7) The acronym EPA represents the
A
Environmental Permission Agency
B
Energy Protection Agency
C
Energy and Petroleum Agency
D
Environmental Protection Agency
8) The government enforces antitrust laws in order to
A
create private services
B
create government services
C
promote competition
D
promote monopolies
9) Radio and television programming fall under the control of the
A
Environmental Protection Agency
B
Social Security Agency
C
Federal Communications Commission
D
Federal Trade Commission
10) What statement best explains why the government provides goods and services to its citizens?
A
To make a large profit by providing certain goods and services to it's citizens.
B
To provide benefits to small groups of people in certain areas of the country.
C
To compete with businesses in the private sector.
D
To provide goods and services that would not be available if individuals had to provide them.
*select an answer for all questions
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