Role Of The Government In U.S. Economy #2 Question Preview (ID: 30885)


Review #2 For Test. TEACHERS: click here for quick copy question ID numbers.

Increased government spending often leads to all of the following, EXCEPT -
a) Higher taxes
b) Lower Taxes
c) More Demand
d) Growth of employment and production

Which statement most likely supports the effect of increased government spending  for the military?
a) Decrease in income taxes
b) Decrease in oil consumption
c) Increase in weapons production
d) Reduction in the number of soldiers

The Federal Reserve System is -
a) the federal government’s bank
b) responsible for legislative purchases
c) the federal government’s tax collector
d) accountable for legislative actions

The acronym FCC refers to the —
a) Federal Corporate Contacts
b) Federal Communications Commission
c) Federal Contract Commission
d) Federal Commerce Committee

One goal of the Federal Reserve is to —
a) ensure the stability of the banking system
b) increase income taxes
c) keep inflation high
d) increase the value of other currencies

Which solution will have the biggest impact if a consumer's rights have been violated?
a) Boycott the company
b) Interview for the newspaper
c) Write a complaint letter
d) Take legal action

Radio and television programming fall under the control of the —
a) Environmental Protection Agency
b) Federal Trade Commission
c) Federal Communications Commission
d) Social Security Agency

What is the main job of the Federal Reserve?
a) Regulate business
b) Regulate spending
c) Regulate taxes
d) Maintain the value of the dollar

What is the relationship between government spending and employment?
a) Increased Spending = Increased Unemployment
b) Increased Spending = Increased Employment
c) Increased Spending = Decreased Employment
d) Decreased Spending = Decreased Unemployment

The American government issues money to —
a) enable all citizens to be financially equal
b) compete against member of the European Union
c) enable the exchange of goods and services
d) become a self-sufficient nation

Why would the government restrict Pepsi from purchasing Coke?
a) To support monopolies
b) Coke is a better product than Pepsi
c) Anti-trust laws
d) It would limit opportunity cost

An entrance fee of $25 to enter the Grand Canyon National Park is an example of how the government -
a) pays for public services
b) discourages patrons from littering
c) encourages vacation planning
d) promotes tourism

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