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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 Bureau of Investigation
B
Environmental Protection Agency
C
Federal Trade Commission
D
Central Intelligence Agency
3) The United States Government promotes marketplace competition by —
A
engaging in global trade
B
prohibiting start-up businesses
C
encouraging monopolies
D
working to build trusts
4) A lawsuit filed against a major store for unfair sales practices describes a case involving -
A
civil rights
B
employee rights
C
consumer rights
D
property rights
5) All of the following are reasons why the government participates in global trade EXCEPT —
A
promote competition
B
develop monopolies
C
get goods we cannot produce
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
Federal Bureau of Investigation
C
Federal Trade Commission
D
Environmental Protection Agency
7) Which government agency uses the acronym FTC?
A
Freeway and Transport Commission
B
Federal Trade Commission
C
Federal Transaction Company
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 ask the Supreme Court to research businesses.
C
They write contracts for consumers.
D
They establish guidelines for public health and safety.
10) The ______________ Amendment to the Constitution of the United States of America authorizes Congress to tax personal and business incomes.
A
5th
B
3rd
C
19th
D
16th
11) The government pays for public goods and services through —
A
donations from foreign nations
B
revenue from sales and income taxes
C
revenue from the lottery
D
donations from wealthy politicians
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
Internal Revenue Service
B
Environmental Protection Agency
C
Federal Communications Commission
D
Federal Trade Commission
*select an answer for all questions
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