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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
More Demand
B
Growth of employment and production
C
Higher taxes
D
Lower Taxes
2) Which statement most likely supports the effect of increased government spending for the military?
A
Decrease in income taxes
B
Increase in weapons production
C
Decrease in oil consumption
D
Reduction in the number of soldiers
3) The Federal Reserve System is -
A
the federal government’s tax collector
B
accountable for legislative actions
C
responsible for legislative purchases
D
the federal government’s bank
4) The acronym FCC refers to the —
A
Federal Corporate Contacts
B
Federal Contract Commission
C
Federal Communications Commission
D
Federal Commerce Committee
5) One goal of the Federal Reserve is to —
A
increase income taxes
B
ensure the stability of the banking system
C
keep inflation high
D
increase the value of other currencies
6) Which solution will have the biggest impact if a consumer's rights have been violated?
A
Interview for the newspaper
B
Take legal action
C
Boycott the company
D
Write a complaint letter
7) Radio and television programming fall under the control of the —
A
Environmental Protection Agency
B
Social Security Agency
C
Federal Trade Commission
D
Federal Communications Commission
8) What is the main job of the Federal Reserve?
A
Regulate spending
B
Regulate taxes
C
Regulate business
D
Maintain the value of the dollar
9) What is the relationship between government spending and employment?
A
Increased Spending = Increased Unemployment
B
Increased Spending = Decreased Employment
C
Decreased Spending = Decreased Unemployment
D
Increased Spending = Increased Employment
10) The American government issues money to —
A
compete against member of the European Union
B
enable the exchange of goods and services
C
become a self-sufficient nation
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
It would limit opportunity cost
C
Anti-trust laws
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
discourages patrons from littering
B
encourages vacation planning
C
pays for public services
D
promotes tourism
*select an answer for all questions
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