Final Review: Question Preview (ID: 19765)

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All of the following are part of Market Structure EXCEPT?
a) Oligopoly
b) Monopoly
c) Pure
d) Flat Tax

Many buyers and sellers, none being able to influence prices is what?
a) Oligopoly
b) Monopoly
c) Perfect Competition
d) Monopsony

What amendment gave Congress the power to tax an individual's income?
a) Nineteenth
b) Thirteenth
c) Sixteenth
d) Fourteenth

What is one problem with Fiscal Policy?
a) lacking of government
b) It takes the right amount of taxes
c) Very proportional
d) Tends to affect certain groups

Sin tax affects what group of people?
a) Low Class
b) Middle Class
c) Both A B
d) High class

What do Sin taxes have strongly detrimentally affect what?
a) local small businesses
b) larger businesses
c) corporate businesses
d) All of the above

What is the largest source of federal government revenue?
a) Store income Tax
b) Business income Tax
c) Individual income tax
d) none of the above

Will promoting open market and economic growth abroad help balance U.S. economy?
a) True
b) False

All of the following are key solutions to balancing the economy EXCEPT?
a) Stop sales of key assets to foreign entities
b) Not allowing individuals and companies to profit by selling out U.S
c) Making less supplies for businesses
d) Institute policies to cut back consumption

A balanced budget is when current expenditures are equal to the same recipients after a few months.
a) True
b) False

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