US Government and the Economy

A monopoly is what?

• When a bank only has one loan.

• When one business/ corporation controls an entire market.

• A government that only has one central bank.

• When a handful of businesses/ corporations control a market.

What does the government often do when inflation gets too high?

• It prints more money.

• It raises taxes.

• It raises interest rates.

• It increases government spending.

Which of the following is a function of money?

• It's a standard of value.

• It's a store of value.

• It's a medium of exchange.

• All of the above.

Our money has value because it is

• It's easily destroyed.

• It's made of gold and silver.

• It's generally acceptable.

• All of the above.

How many Federal Reserve districts are there?

• 12

• 50

• 116

• 3

Economic growth takes place when the GDP increases without increases in

• Employment

• Inflation

• Wages

• GDP

What is the largest entitlement program provided by the United States government?

• Military defense

• Welfare

• Interest debt

• Social security

A group of businesses with a large market share, who agree to charge high prices for profit is called a _______.

• Trust

• Monopoly

• Cooperative

• Corporation

What describes a situation in which everyone who wants a job can find one?

• Full employment

• Unemployment

• Interest

• Credit counseling

A bank that offers a __________ to a customer will expect it to be repaid with interest

• Interest

• Loan

• Debt

• Withdrawl