Question 1

The U.S. government promotes marketplace competition by enforcing ___ legislation to discourage the development of ___.

Accepted Answer

Antitrust
Monopolies

Question 2

The U.S. government promotes marketplace competition by engaging in ___ trade.

Accepted Answer

Global

Question 3

The U.S. government promotes marketplace competition by supporting ____ start-ups.

Accepted Answer

Business

Question 4

The Federal ___ Commission (FCC) regulates businesses in the field of broadcasting.

Accepted Answer

Communications

Question 5

The ___ Protection Agency (EPA) protects the air, water, and soil from pollution.

Accepted Answer

Environmental

Question 6

The Federal ___ Commission (FTC) protects consumers from false advertising and truth in labeling by businesses.

Accepted Answer

Trade

Question 7

The government provides public goods and services to many people ____.

Accepted Answer

Simultaneously

Question 8

If the government did not provide public goods and services they would not be available because people would not -

Accepted Answer

be able to provide them for themselves

Question 9

Three examples of public goods and services provided by the national government are -

Accepted Answer

Interstate Highways
Postal Service
National Defense

Question 10

The government pays for public goods and services through what three sources of revenue?

Accepted Answer

Taxes
Borrowing
Fees

Question 11

What are the three main sources of tax revenue for the national, state, and local governments?

Accepted Answer

Income
Sales
Property

Question 12

The government borrows money through what two sources?

Accepted Answer

Bonds
Loans

Question 13

An example of the fees the government collects is -

Accepted Answer

Park Entrance Fees

Question 14

What authorizes the government to tax personal and business incomes?

Accepted Answer

Sixteenth Amendment

Question 15

The effect of government taxes effect individual and business spending like a see-saw. Therefore if the government increases taxes the effect on spending ability is that it ___. Whereas if taxes decrease the effect on spending ability causes it to ___.

Accepted Answer

Decrease
Increase

Question 16

The effect of government borrowing has a see-saw effect on the ability of individuals and businesses to borrow.  If government increases the amount it is borrowing the effect on other borrowing is ____.

Accepted Answer

Decreased

Question 17

The effect of government borrowing has a see-saw effect on the ability of individuals and businesses to borrow. If the government decreases the amount it is borrowing the effect on borrowing is ____.

Accepted Answer

Increased

Question 18

If the government increases it spending what three aspects of the U.S. economy will also increase?

Accepted Answer

Demand
Employment
Production

Question 19

Increased government spending may result in higher ____ for individuals and businesses to pay.

Accepted Answer

Taxes

Question 20

Decreased government spending reduces ___ which may result in a ____ of the economy and in lower ___ for individuals and businesses to pay.

Accepted Answer

Demand
Slowing
Taxes

Question 21

The ___ ____ is the central bank of the United States.

Accepted Answer

Federal Reserve

Question 22

One duty of the Federal Reserve is to maintain the value of our national ___.

Accepted Answer

Currency

Question 23

One responsibility of the Federal Reserve is to regulate banks to ensure the soundness of the ___ ___ and the safety of ___.

Accepted Answer

Banking System
Deposits

Question 24

The Federal Reserve manages the amount of ___ in the economy to try to keep ___ low and stable.

Accepted Answer

Money
Inflation

Question 25

What acts as the Federal government's bank?

Accepted Answer

Federal Reserve

Question 26

Individuals have the right to own private property in the United States which is protected by ____ ____ that are enforceable by law.

Accepted Answer

Negotiated Contracts

Question 27

Government ____ establish guidelines that protect public health and safety.

Accepted Answer

Agencies

Question 28

Which government agency makes sure the medicines we take and the food we eat are safe?

Accepted Answer

Food and Drug Administration

Question 29

Which government agency recalls goods that may be dangerous to our safety?

Accepted Answer

Consumer Product Safety Commission

Question 30

If their rights are violated consumers can take -

Accepted Answer

Legal Action

Question 31

The United States government issues ___ to facilitate the exchange for goods and services.

Accepted Answer

Money

Question 32

People in the United States accept the coins and currency issued by the government because they have ___ in the government.

Accepted Answer

Confidence

Question 33

The three types of money used in the United States are -

Accepted Answer

Coins
Federal Reserve Notes
Deposits in Bank Accounts

Question 34

Federal Reserve notes are also called ____ or paper money.

Accepted Answer

Currency

Question 35

The money we deposit in bank accounts can be accessed by what two methods?

Accepted Answer

Checks
Debit Cards

CE. 13 A,B,C,D,E,F

Gov't Involvement in U.S. Econ, Fed. Reserve, Money

Question	Answer
The U.S. government promotes marketplace competition by enforcing ___ legislation to discourage the development of ___.	Antitrust Monopolies
The U.S. government promotes marketplace competition by engaging in ___ trade.	Global
The U.S. government promotes marketplace competition by supporting ____ start-ups.	Business
The Federal ___ Commission (FCC) regulates businesses in the field of broadcasting.	Communications
The ___ Protection Agency (EPA) protects the air, water, and soil from pollution.	Environmental
The Federal ___ Commission (FTC) protects consumers from false advertising and truth in labeling by businesses.	Trade
The government provides public goods and services to many people ____.	Simultaneously
If the government did not provide public goods and services they would not be available because people would not -	be able to provide them for themselves
Three examples of public goods and services provided by the national government are -	Interstate Highways Postal Service National Defense
The government pays for public goods and services through what three sources of revenue?	Taxes Borrowing Fees
What are the three main sources of tax revenue for the national, state, and local governments?	Income Sales Property
The government borrows money through what two sources?	Bonds Loans
An example of the fees the government collects is -	Park Entrance Fees
What authorizes the government to tax personal and business incomes?	Sixteenth Amendment
The effect of government taxes effect individual and business spending like a see-saw. Therefore if the government increases taxes the effect on spending ability is that it ___. Whereas if taxes decrease the effect on spending ability causes it to ___.	Decrease Increase
The effect of government borrowing has a see-saw effect on the ability of individuals and businesses to borrow. If government increases the amount it is borrowing the effect on other borrowing is ____.	Decreased
The effect of government borrowing has a see-saw effect on the ability of individuals and businesses to borrow. If the government decreases the amount it is borrowing the effect on borrowing is ____.	Increased
If the government increases it spending what three aspects of the U.S. economy will also increase?	Demand Employment Production
Increased government spending may result in higher ____ for individuals and businesses to pay.	Taxes
Decreased government spending reduces ___ which may result in a ____ of the economy and in lower ___ for individuals and businesses to pay.	Demand Slowing Taxes
The ___ ____ is the central bank of the United States.	Federal Reserve
One duty of the Federal Reserve is to maintain the value of our national ___.	Currency
One responsibility of the Federal Reserve is to regulate banks to ensure the soundness of the ___ ___ and the safety of ___.	Banking System Deposits
The Federal Reserve manages the amount of ___ in the economy to try to keep ___ low and stable.	Money Inflation
What acts as the Federal government's bank?	Federal Reserve
Individuals have the right to own private property in the United States which is protected by ____ ____ that are enforceable by law.	Negotiated Contracts
Government ____ establish guidelines that protect public health and safety.	Agencies
Which government agency makes sure the medicines we take and the food we eat are safe?	Food and Drug Administration
Which government agency recalls goods that may be dangerous to our safety?	Consumer Product Safety Commission
If their rights are violated consumers can take -	Legal Action
The United States government issues ___ to facilitate the exchange for goods and services.	Money
People in the United States accept the coins and currency issued by the government because they have ___ in the government.	Confidence
The three types of money used in the United States are -	Coins Federal Reserve Notes Deposits in Bank Accounts
Federal Reserve notes are also called ____ or paper money.	Currency
The money we deposit in bank accounts can be accessed by what two methods?	Checks Debit Cards

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