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CE 13A-C The U.S Econmony Part 1
Test Description: U.S Market Place Competition, Public Goods and Services and Taxation.
Instructions: Answer all questions to get your test result.
1) The government both promotes and regulates ___
A
Choice
B
Competition
C
Free Market
D
Music
2) The government promotes competition by enforcing ________ legislation to discourage the development of monopolies.
A
Consumer Sovereignty
B
Competition
C
Antitrust
D
Choice
3) Which of one of the four following government agencies DOES NOT oversee the way individuals and companies do business?
A
CIA (Central Intelligence Agency)
B
EPA (Environmental Protection Agency)
C
FTC (Federal Trade Commission)
D
FCC (Federal Communication Commission)
4) The government provides public goods and services which of the following is not a public good and services?
A
Postal Service
B
Internet Service
C
Interstate Highways
D
National Defense
5) Public goods and services provide benefits to many simultaneously, but would not be available if ____________ had to provide them.
A
Businesses
B
Individuals
C
Charity Groups
D
Other Governments
6) How do governments get the money to produce public goods and services?
A
Holding fundraisers
B
By selling land
C
Starting a Go Fund Me Page
D
Through Taxes and Borrowed Funds
7) What Amendment to the Constitution gives Congress the authority to tax personal and business incomes?
A
27th
B
16th
C
1st
D
3rd
8) Government can _____ ___ to increase funds for private and business spending.
A
Decrease Taxes
B
Increase Taxes
C
Spend Less
D
Spend More
9) The government can ___, ___, and ___ to influence economic activity.
A
Tax, Borrow and Save
B
Tax, Borrow and Spend
C
Tax, Borrow and Beg
D
Tax, Borrow and Refinance
10) Government ____ _____ reduce the funds available for private and business spending.
A
Increase Taxes
B
Spend Nothing
C
Decrease Taxes
D
Spend More
*select an answer for all questions
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