Government In The Economy: Question Preview (ID: 32491)

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One of government’s roles is to
a) generate sales revenues.
b) foster economic success.
c) provide health care for all its citizens.
d) guarantee the safety of all citizens.

Intrastate commerce is overseen by
a) local governments.
b) state governments.
c) the federal government

The U.S. government passed antitrust laws to
a) restrict trade.
b) ensure product safety.
c) encourage monopolies.
d) promote competition.

The FTC stands for
a) Federal Tariff Commission
b) Federal Trade Comission
c) Fair Trademark Commission.
d) Fair Tax Commission.

In the United States, the length of a copyright term is the life of the author plus
a) 10 years.
b) 25 years.
c) 50 years.
d) 70 years.

No one can copy a patented product or process without permission
a) for 10 years after the inventor's death.
b) as long as the inventor is alive.
c) for 20 years after the inventor filed his application with US Patent and Trademark Office.
d) until the invention is no longer is use.

A name, symbol, or characteristic that identifies a product is a
a) copyright.
b) slogan.
c) trademark.
d) motto.

Worker protection laws
a) ensure every employee earns a living wage.
b) impose safety requirements.
c) require employers to provide health insurance.
d) severly curtail outsourcing.

The following are public goods except
a) schools.
b) libraries.
c) highways.
d) shopping malls.

Which is an example of privatization?
a) a concession stand at a state beach.
b) a concession stand at Yankee Stadium.
c) a private high school.
d) a high school cafeteria.

All of the following are transfer payments except
a) veterans' benefits.
b) income tax refunds.
c) unemployment pay.
d) Social Security.

Local taxes pay for
a) interstate highways.
b) defense.
c) motor vehicle departments.
d) city streets and parks.

A tax break
a) a special benefit given to promote specific economic or social objectives.
b) a suspension of taxes to provide temporary relief for the taxpayer.
c) is the break-even point in the calendar year for taxpayers.
d) the amount of tax levied that the taxpayer can no longer afford to pay.

Goverments allocate resources by
a) giving most of the funding to the military.
b) deciding how to spend tax revenues.
c) giving political candidates money to fund campaigns.
d) funding nonprofit organizations on a first-come, first-served basis.

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