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Role Of The Government In U.S. Economy #1
Test Description: Review #1 for test
Instructions: Answer all questions to get your test result.
1) The acronym EPA represents the —
A
Energy Protection Agency
B
Environmental Protection Agency
C
Environmental Permission Agency
D
Energy and Petroleum Agency
2) Which government agency would most likely protect the American consumer?
A
Federal Trade Commission
B
Central Intelligence Agency
C
Environmental Protection Agency
D
Federal Bureau of Investigation
3) The United States Government promotes marketplace competition by —
A
working to build trusts
B
encouraging monopolies
C
prohibiting start-up businesses
D
engaging in global trade
4) A lawsuit filed against a major store for unfair sales practices describes a case involving -
A
civil rights
B
property rights
C
consumer rights
D
employee rights
5) All of the following are reasons why the government participates in global trade EXCEPT —
A
get goods we cannot produce
B
promote competition
C
develop monopolies
D
promote world peace
6) A candidate for the Senate talks about his plan to decrease pollution in his state during his campaign. Which government agency will most likely support this candidate’s idea?
A
Federal Communications Commission
B
Environmental Protection Agency
C
Federal Bureau of Investigation
D
Federal Trade Commission
7) Which government agency uses the acronym FTC?
A
Federal Transaction Company
B
Freeway and Transport Commission
C
Federal Trade Commission
D
Federal Transportation Corporation
8) What is the relationship between government spending and taxes?
A
There is no relationship between government spending and taxes.
B
Increased Spending = Higher Taxes
C
Increased Spending = Lower Taxes
D
Decreased Spending = Higher Taxes
9) How do federal agencies protect consumers?
A
They approve all consumer contracts before they take effect.
B
They write contracts for consumers.
C
They establish guidelines for public health and safety.
D
They ask the Supreme Court to research businesses.
10) The ______________ Amendment to the Constitution of the United States of America authorizes Congress to tax personal and business incomes.
A
3rd
B
16th
C
19th
D
5th
11) The government pays for public goods and services through —
A
revenue from the lottery
B
donations from wealthy politicians
C
revenue from sales and income taxes
D
donations from foreign nations
12) A tag found on a shirt, explaining what it is made of and how to wash it, is the result of a federal law to protect consumers. Which of the following would most likely enforce this law?
A
Environmental Protection Agency
B
Federal Communications Commission
C
Internal Revenue Service
D
Federal Trade Commission
*select an answer for all questions
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