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Unit #11 Review
Test Description: CE.11 14
Instructions: Answer all questions to get your test result.
1) The most important source of revenue for the government is -
A
fees
B
taxes
C
tolls
D
interest
2) Which amendment allows Congress to take our income?
A
16th
B
1st
C
5th
D
18th
3) Taxes are necessary because the government needs a way to raise money to -
A
provide incentives for government officials
B
promote monopolies
C
control the economic flow
D
carry out laws and regulations
4) Federal Reserve Notes, deposits accessed by debt cards, and coins are all types of -
A
revenue
B
incentives
C
money
D
resources
5) The government issues currency and coins to -
A
promote global trade
B
promote monopolies
C
help make the exchange of goods and services easier
D
control the exchange of goods and services
6) Items and actions provided by the government because individuals acting alone could not provide them efficiently are called -
A
incentives
B
opportunity cost
C
public goods and services
D
revenue
7) Schools, highways, and libraries are referred to as public services because they -
A
are funded through individual investment
B
encourage cooperation between government branches
C
provide benefits to many people
D
are created by large corporations
8) Fees are the money -
A
banks issue for depositing money
B
charged for licenses
C
an individual or business earns
D
charged for the use of highways
9) The government uses tax revenue, borrowed funds, and fees to pay for -
A
public goods and services
B
the economic flow
C
incentives
D
opportunity cost
10) If a business violates a consumer's rights, he/she may -
A
do nothing
B
take legal action
C
write a contrct
D
write his/her congressperson
11) The right of private property is protected by-
A
the First Amendment
B
government securities
C
the Federal Reserve System
D
negotiated contracts
12) To protect consumers, federal agencies -
A
approve all consumer contracts before they take effect
B
write contracts for consumers
C
ask the Supreme Court to research a business
D
establish guidelines for public health
13) What would lead to individuals and business having less money to spend?
A
Government tax increases
B
Increased government regulations
C
A decrease in the supply of a good
D
Decreased government spending
14) Which of the following would be the best way for the government to raise money?
A
Increase prices
B
Increase spending
C
Decrease borrowing
D
Increase taxes
15) If the government wanted to slow down the economy, it might increase borrowing because it will result in -
A
less money for individuals to borrow for spending
B
lower taxes
C
a reduction of demand, employment, and production
D
an increase of government spending
16) What government action would lead to an increase in demand, production, and production?
A
An increase in borrowing
B
An increase of the discount rate
C
An increase in spending
D
An increase of the reserve amount
17) If the government decreased its spending, what would be the result?
A
Lower discount rate
B
Higher prices
C
Lower taxes
D
Higher reserve amount
18) Who manages the amount of money in the economy and is our nation's central bank?
A
Federal Communications Commission
B
Federal Reserve System
C
Federal Trade Commission
D
Federal Bureau of Investigation
*select an answer for all questions
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