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