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Unit 12 And 13 Review: Macroeconomics And Human Development
Test Description: CE 13
Instructions: Answer all questions to get your test result.
1) U.S. currency is created by--
A
The stock market
B
The government
C
Banks
D
Businesses
2) The U.S. government promotes marketplace competition by--
A
Working to help monopolies
B
Enforcing antitrust legislation
C
Limiting global trade
D
Creating laws to protect trusts
3) Which of the following choices are examples of a good or service provided by the government?
A
Postal service by the mail carrier
B
Food provided by your favorite restaurant
C
Taxi service provided at the airport
D
Safety provided by the lifeguard at the club pool
4) How does the federal government finance itself?
A
Fining corporations
B
Taking out a mortgage
C
Selling treasury bonds
D
Levying taxes on income
5) Which statements describe the principles of a state sales tax?
A
States have the authority to determine the tax rate on the sale of goods.
B
States that do not have a sales tax are acting unconstitutionally.
C
States do not rely on sales tax. They rely on property taxes.
D
Sales taxes are progressive based on a consumer's income to redistribute wealth.
6) Local governments are the only ones who have the authority to levy which type of tax?
A
Import/Export taxes
B
Property taxes
C
Sales taxes
D
Income taxes
7) Which of the following policies is a primary goal of the Federal Reserve System?
A
Ensure 100% employment across the country
B
Decrease consumer spending
C
Provide relief and bailout to failed banks
D
Undermine the banking system of the U.S.
8) The government sets guidelines for producing goods and services to —
A
Increase the prices of products
B
Allow businesses to operate freely
C
Protect the health and safety of consumers
D
Decrease the prices of products
9) The United States Government promotes marketplace competition by —
A
Engaging in global trade
B
Working to build trusts
C
Prohibiting start-up businesses
D
Encouraging monopolies
10) Private property is protected by —
A
Enforceable contracts
B
Security Exchange Commission
C
Federal Trade Commission
D
Federal Reserve
*select an answer for all questions
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