Government And The Economy 2: Question Preview (ID: 13631)

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What might the government do to pull the U.S. economy out of a recession (an economic slowdown)?
a) Increase government spending, which will increase demand and production.
b) Increase government borrowing, which will reduce funds available for individuals and businesses.
c) Decrease government spending, which will reduce demand and slow the economy.
d) Raise taxes so individuals and businesses have less money available to spend.

The tax collected on one’s earnings from a job is called the _______ tax.
a) sapital gains
b) sales
c) real estate
d) income

A tax increase tends to ___________ the overall economy, by reducing the amount of money available for spending by individuals and business.
a) boost
b) bring up
c) slow
d) increase

The Federal Reserve System is also known as
a) the FED.
b) the FDR.
c) the FRS.
d) the SRF.

The Federal Reserve System is mainly responsible for regulating the nation’s
a) taxes.
b) budget.
c) money supply.
d) debt.

Julia purchased a new outfit at a local department store, but the store never received the payment. Julia most likely paid with-
a) currency
b) a check
c) coins
d) A Federal Reserve note

United States currency is created by -
a) the government
b) the Stock Market
c) businesses
d) banks

Why does the government set guidelines for producing goods and services?
a) To increase the prices of products
b) To allow businesses to operate freely
c) To decrease the prices of products
d) To protect the health and safety of consumers

What is an agreement between two or more people called?
a) Security
b) Compromise
c) Contract
d) Discount

Private property is protected by what?
a) Federal Trade Commission
b) Enforceable Contracts
c) Security Exchange Commission
d) Federal Reserve

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