U.S. and Global Economy

Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?

• corporation
• partnership
• sole proprietorship

What do we call a person who is willing to take the risks of starting a business in order to make a profit?

• Proprieter
• Partner
• Entrepreneur
• Incorporater

Decreased government spending may result in _____ taxes. 

• higher
• more
• lower

This type of business is owned by one person.

• Partnership

• Sole Proprietorship

• Corporation

This type of business is owned by two or more people.

• Sole Proprietorship

• Partnership

• Corporation

This type of business is owned by many people called stockholders.

• Sole Proprietorship

• Partnership

• Corporation

What is the name of our nation's central bank?

• The Federal Reserve

• The United States National Bank

• Bank of America

The Federal Reserve maintains the _______ of our currency.

• value

• design

• color

The Fed ______________ banks to ensure the soundness of the banking system.

• regulates

• opens

• runs

Select the THREE choices that are TRUE for private financial institutions.

• Include banks and credit unions

• Receive deposits and make loans

• Print money

• Encourage saving by paying interest on deposits