Econ Review Question Preview (ID: 2144)


Used To Prepare For Econ II Test. TEACHERS: click here for quick copy question ID numbers.

What is a contract?`
a) A paper that states the price of land.
b) A legal agreement that is enforceable by law.
c) An agreement that can't be enforced.
d) An agreement only legal if there is a judge present.

One role of the government in economics is to promote and regulate _________.
a) Large businesses
b) Each state's economy
c) Communications
d) Competition

Congress is allowed to tax individuals and businesses because of the ________ amendment.
a) 10th
b) 15th
c) 16th
d) 8th

All of the following are ways that the Federal Reserve Bank slows the economy EXCEPT:
a) Increases the reserve requirement
b) Raises the discount rate
c) Sells government securities
d) Acting as a banker's bank

Individuals have the right of __________________.
a) tax revenues
b) private ownership
c) discount rates
d) violations

What is the role of self-assessment in career planning?
a) It begins the process.
b) It is the last step taken.
c) It happens in your mid-twenties.
d) You only do this for minimum wage jobs.

What is the role of the United States government in protecting consumer rights and property rights?
a) Government created amendments to protect these.
b) Government has no role.
c) Government agencies create guidelines to protect these.
d) Government's role is too limited to do anything.

All of the following are examples of national public goods and services EXCEPT:
a) police and fire assistance
b) U.S. postal services
c) U.S. highways systems
d) Army, Navy, Air Force, Marines

All of the following are examples of government agencies that help regulate competition EXCEPT:
a) FCC
b) IRS
c) EPA
d) FTC

This government body is in charge of issuing currency and regulating the amount of money in circulation.
a) Judicial Branch
b) The Fed
c) The IRS
d) The President

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