CE 13 Review #1: Question Preview (ID: 14934)

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Which is not a way that the government promotes marketplace competition?
a) increasing taxes
b) supporting new businesses
c) enforcing anti-trust legislation
d) engaging in global trade

Which of the following is NOT one of the three agencies created by the government to protect consumers?
a) Federal Trade Commission
b) Federal Communications Commission
c) Environmental Protection Agency
d) National Rifle Association

Who uses taxes, borrowed money, and fees to pay for public goods and services?
a) The U.S. government
b) Businesses
c) The banks
d) Individuals

Which statement best explains why the government provides public goods and services?
a) To compete with the private businesses
b) To provide goods and services that would not be available if individuals had to provide them
c) To make a large profit
d) To benefit only small groups of people in certain areas of the U.S.

Which of the following is NOT a public good or service provided by the government?
a) Gas station
b) Post office
c) Public libraries
d) Police and Fire Departments

Which amendment authorizes Congress to tax personal and business incomes?
a) 16th
b) 14th
c) 5th
d) 1st

Which of the following is NOT one of the ways the government influences economic activity?
a) Taxing
b) Borrowing
c) Spending
d) Doing nothing

The central bank of the United States that acts as the federal government’s bank is the...?
a) Internal Revenue Service (IRS)
b) Federal Trade Commission (FTC)
c) Federal Reserve System (Fed)
d) Environmental Protection Agency (EPA)

One goal of the Federal Reserve is to...?
a) Ensure the stability of the banking system
b) Raise taxes
c) Give tax money to the government
d) Keep inflation high

The right of private ownership is protected by...?
a) Negotiated contracts
b) 1st Amendment
c) Federal Reserve
d) Federal Trade Commission

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