American Economy And Gov't Involvement Question Preview (ID: 32622)
Unit 4 Exam Review.
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If the President vetoes the national budget bills, it sent back to _________________ for mending.
a) Congress
b) Citizens
c) Vice President
d) None of the answers
Who is responsible for creating the federal budget?
a) Congress
b) Vice President
c) President
d) None of the answers
Government supports research to improve technology, which__________affects the economy.
a) Negatively
b) Adversely
c) Rarely
d) Positively
When an inventor gets a_______________ for his work, it means that the government will permit him to earn all profits for 20 years.
a) Letter
b) Notice
c) Patent
d) Bill
__________________is encouraged because new products will stimulate the economy and create new jobs.
a) entrepreneurship
b) Contractionary policies
c) Decreasing the money supply
d) None of the answers
___________________is a benefit of the US economy that allows producers to be very flexible.
a) Freedom
b) Responsive Prices
c) Variety of Goods
d) Protection
_________________ is a benefit of the US economy that requires a lot of government involvement.
a) Freedom
b) Protection
c) Responsive Prices
d) Variety of Goods
Which of the following is NOT a characteristic of the U.S economy.?
a) Profit Motivation
b) Competition
c) Federal Regulation
d) Self Interest
The Federal Reserve is governed by a seven-member panel known as the ________________.
a) Senate
b) House of Representatives
c) Board of Governors
d) None of the answers
__________________________of the Federal Reserve decides if any changes to the money supply are needed.
a) Federal Open Market Committtee
b) Federal Advisory Council
c) Board of Governors
d) None of the above
The Federal Reserve can decrease the money supply by ________________ bonds.
a) Buying
b) Trading
c) Selling
d) None of the answers
The conducts check-clearing services for all banks in the country.
a) President
b) Vice President
c) Federal Reserve
d) None of the answers
The Federal Reserve can increase the money supply by ____________ bonds.
a) Buying
b) Selling
c) Trading
d) None of the answers
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