Economics Review: Question Preview (ID: 19532)

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What is a main role of government agencies such as the FTC and EPA?
a) to protect consumer rights and safety
b) to decrease competiton
c) to enact global policies
d) to generate funds for consumers

Which of the following is false?
a) monopolies lead to decreased prices and quality
b) the government creates anti trust laws to prevent monoplies
c) monopolies decrease competiton
d) the government may make the monopoly split into smaller companies

What is the effect of decreased government loans/borrowing?
a) increased funds for consumers to borrow
b) decreased funds for consumers to borrow
c) increased salaries for workers
d) decreased salaries for workers

Which of the following is NOT a role of the Federal Reserve?
a) to increase tax payments
b) to maintain the value of our currency
c) to keep the economy stable
d) to regulate banks

Earnings - Expenses = ??
a) profit
b) cost
c) interest
d) investments

Which type of economy has government control of the public sector and individual/business control of the private sector?
a) mixed
b) command
c) traditional
d) free market

Which of the following is NOT a type off currency?
a) credit cards
b) debit cards
c) checks
d) coins

Supply and demand determines ___.
a) price
b) profit
c) investment
d) interest

What incentive do banks use to get customers to deposit money in savings accounts?
a) interest payments
b) tax payments
c) salary payments
d) loan payments

This type of business acts a legal person and owner liability is limited to investment.
a) corporation
b) partnership
c) proprietorship
d) franchise

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