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