Which agency description would mostly likely recall a hair dryer due to risk of electrocution?

responsible for enforcing federal safety standards

How do federal agencies protect consumers?

Establish guidlines for public health and safety

Maintaining the dollar value, regulating banks, government's bank , keep inflation low are

The goals of the Federal Reserve

Why does the government provide public goods and services?

individuals/businesses are not able to provide them for all

The American government issues money to-

enable the exchange of goods and services

One of the main concerns the public has about taxes is

Taxes are a heavy burden for the taxpayer

The government pays for public goods and services through-

revenue from sales and income taxes

The monetary system in the USA is successful because-

the confidence of the consumers in the US government

Which is not a function of money?

serves as a method of purchasing on credit

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Role of the government in Economy SWAIN

25 termsStudBud Administration324 plays

Review for our Role of Government Unit Test

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Questions 25

Answers

1
Residents pay taxes to provide all of the following except
Police
Cable TV
Public schools
Roads
2
One thing the Federal Reserve does NOT do is
Serve as the government's bank
Manage the value of the dollar
set interest rates
Raise taxes
3
16th amendment allows congress to-
tax income
raise salaries of congress
allow women to vote
make alcohol illegal
4
All of the following are jobs of the federal reserve except-
increase taxes
regulate banks
manage the amount of money in the economy
act at the federal government's bank
5
When taxes increase what happens to spending by individuals and businesses?
borrowing decreases
spending stays the same
increases
decreases
6
Which answer is not a way the government promotes market place competition
support business start ups
enforce anti-trust legislation
creating new jobs
engaging in global trade
7
The best way to pass tests is
Write all of the answers on your eyelids
Stare at JaQuan real hard until the answer comes to you
To cheat off of the smart person next to you
Study the study guide
8
The US Government encourages marketplace competition by
taxing imports
developing monopolies
supporting new businesses
limiting economic growth
9
Which agency description would mostly likely recall a hair dryer due to risk of electrocution?
administers federal food and purity laws and drug testing
establishes and enforces pollution standards
responsible for enforcing federal safety standards
prevents or corrects unfair labor practices
10
Which is not an example of a private good or service?
clothes
internet
libraries
food
11
How do federal agencies protect consumers?
write contracts for consumers
ask the Supreme Court to research businesses
Establish guidlines for public health and safety
approve all consumer contracts before they take effect
12
Private Property is protected by-
The Security Exchange Commission
The Federal Trade Commission
Enforceable Contracts
The Federal Reserve
13
Maintaining the dollar value, regulating banks, government's bank , keep inflation low are
The goals of the Federal Reserve
goals of Federal Depositors Insurance Corporation
Sets the budget for congress
goals of Congress
14
If gas prices were to rise dramatically which agency would be concerned with this data?
Federal trade commission
homeland security agency
Federal communications commission
Federal bureau of investigations
15
The government enforces anti-trust laws in order to-
promote competition
promote monopolies
create government agencies
create private services
16
Why does the government provide public goods and services?
individuals/businesses are not able to provide them for all
Increase in technology and information has set jobs overseas
the government is not allowed to have a surplus of money
The government makes all economic decisions for the USA
17
The American government issues money to-
compete against members of the European Union
become a self-sufficient nation
enable the exchange of goods and services
Enable all citizens to be financially equal
18
One of the main concerns the public has about taxes is
Taxes are a heavy burden for the taxpayer
Taxes are necessary for building roads and schools
Taxation encourages taxpayers to spend money
Taxes are a constant in life
19
The government pays for public goods and services through-
revenue from sales and income taxes
donations from foreign nations
revenue form the lottery
donations from wealthy politicians
20
Increased government spending may result in
lower demand
higher taxes
lower taxes
increased trade
21
The monetary system in the USA is successful because-
the supply and demand of the US dollar overseas
the ability to issue money
the confidence of the consumers in the US government
the stock market's prices on shares of corporations
22
A goal of the Federal Reserve System is to-
provide money to the government
Set the tax rate
keep the economy stable
maintain high taxes
23
Which is not a function of money?
serves as an accepted method of payment
serves as a means of wealth
serves as a measure of one's value
serves as a method of purchasing on credit
24
Why would the government restrict Pepsi from purchasing Coke?
To support monopolies
It would limit opportunity cost
anti-trust laws
Coke is a better product than Pepsi
25
The US government provides the following services except
postal service
national defense
interstate highways
satellite radio

Role of the government in Economy SWAIN Flashcards | StudBud