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Role Of The Government In U.S. Economy #2
Test Description: Review #2 for Test
Instructions: Answer all questions to get your test result.
1) Increased government spending often leads to all of the following, EXCEPT -
A
Higher taxes
B
More Demand
C
Lower Taxes
D
Growth of employment and production
2) Which statement most likely supports the effect of increased government spending for the military?
A
Decrease in oil consumption
B
Increase in weapons production
C
Reduction in the number of soldiers
D
Decrease in income taxes
3) The Federal Reserve System is -
A
the federal government’s bank
B
accountable for legislative actions
C
responsible for legislative purchases
D
the federal government’s tax collector
4) The acronym FCC refers to the —
A
Federal Corporate Contacts
B
Federal Commerce Committee
C
Federal Communications Commission
D
Federal Contract Commission
5) One goal of the Federal Reserve is to —
A
increase the value of other currencies
B
increase income taxes
C
keep inflation high
D
ensure the stability of the banking system
6) Which solution will have the biggest impact if a consumer's rights have been violated?
A
Take legal action
B
Boycott the company
C
Interview for the newspaper
D
Write a complaint letter
7) Radio and television programming fall under the control of the —
A
Environmental Protection Agency
B
Federal Trade Commission
C
Federal Communications Commission
D
Social Security Agency
8) What is the main job of the Federal Reserve?
A
Regulate spending
B
Regulate business
C
Regulate taxes
D
Maintain the value of the dollar
9) What is the relationship between government spending and employment?
A
Increased Spending = Increased Unemployment
B
Decreased Spending = Decreased Unemployment
C
Increased Spending = Increased Employment
D
Increased Spending = Decreased Employment
10) The American government issues money to —
A
become a self-sufficient nation
B
compete against member of the European Union
C
enable the exchange of goods and services
D
enable all citizens to be financially equal
11) Why would the government restrict Pepsi from purchasing Coke?
A
Coke is a better product than Pepsi
B
Anti-trust laws
C
It would limit opportunity cost
D
To support monopolies
12) An entrance fee of $25 to enter the Grand Canyon National Park is an example of how the government -
A
pays for public services
B
encourages vacation planning
C
promotes tourism
D
discourages patrons from littering
*select an answer for all questions
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