Role Of The Government In U.S. Economy #1: Question Preview (ID: 30883)

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The acronym EPA represents the —
a) Energy and Petroleum Agency
b) Environmental Permission Agency
c) Environmental Protection Agency
d) Energy Protection Agency

Which government agency would most likely protect the American consumer?
a) Federal Trade Commission
b) Federal Bureau of Investigation
c) Environmental Protection Agency
d) Central Intelligence Agency

The United States Government promotes marketplace competition by —
a) working to build trusts
b) encouraging monopolies
c) prohibiting start-up businesses
d) engaging in global trade

A lawsuit filed against a major store for unfair sales practices describes a case involving -
a) civil rights
b) property rights
c) employee rights
d) consumer rights

All of the following are reasons why the government participates in global trade EXCEPT —
a) develop monopolies
b) promote world peace
c) get goods we cannot produce
d) promote competition

The ______________ Amendment to the Constitution of the United States of America authorizes Congress to tax personal and business incomes.
a) 3rd
b) 5th
c) 16th
d) 19th

The government pays for public goods and services through —
a) donations from foreign nations
b) revenue from the lottery
c) donations from wealthy politicians
d) revenue from sales and income taxes

A tag found on a shirt, explaining what it is made of and how to wash it, is the result of a federal law to protect consumers. Which of  the following would most likely enforce this law?
a) Internal Revenue Service
b) Federal Communications Commission
c) Environmental Protection Agency
d) Federal Trade Commission

What is the relationship between government spending and taxes?
a) Increased Spending = Lower Taxes
b) There is no relationship between government spending and taxes.
c) Decreased Spending = Higher Taxes
d) Increased Spending = Higher Taxes

How do federal agencies protect consumers?
a) They approve all consumer contracts before they take effect.
b) They establish guidelines for public health and safety.
c) They write contracts for consumers.
d) They ask the Supreme Court to research businesses.

A candidate for the Senate talks about his plan to decrease pollution in his state  during his campaign. Which government agency will most likely support this  candidate’s idea?
a) Federal Bureau of Investigation
b) Environmental Protection Agency
c) Federal Trade Commission
d) Federal Communications Commission

Which government agency uses the acronym FTC?
a) Federal Trade Commission
b) Federal Transportation Corporation
c) Freeway and Transport Commission
d) Federal Transaction Company

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