Civics and Economics SOL Review
Flashcard
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Fun
•
8th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
Which of the following is a characteristic of most goods and services provided by the government?
Options:
They provide benefits to many simultaneously,
They are only available if individuals provide them,
They do not include public schools,
They are only for private use
Back
They provide benefits to many simultaneously
2.
FLASHCARD QUESTION
Front
Which tax is a percentage of the sale price that consumers pay on many items they purchase?
Back
Sales tax
3.
FLASHCARD QUESTION
Front
Property tax is only levied on land and buildings, not on personal property such as boats or cars.
Back
False
4.
FLASHCARD QUESTION
Front
Governments pay for public goods and services in which two of the following ways?
Taxes and borrowing, Donations and fines, Selling public goods and user fees, Lottery and inheritance
Back
Taxes and borrowing
5.
FLASHCARD QUESTION
Front
What is the main duty of the Federal Reserve System as the central bank of the United States?
Back
Maintain the value of the national currency
6.
FLASHCARD QUESTION
Front
Fill in the blank: The United States government passes laws and creates agencies to protect consumer rights and ________, competition in the marketplace, labor, and the environment.
Back
property rights
7.
FLASHCARD QUESTION
Front
Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services.
Back
True
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