Welcome to Civics and Econ

The government issues currency and coins money to -

• help make the exchange of goods and services easier
• control the exchange of goods and services
• promote monopolies
• promote global trade

Government orders recall of tainted peanut products. Which government agency most likely issued this recall?

• Consumer Product Safety Commission
• Food and Drug Administration
• Federal Trade Commission
• Environmental Protection Agency

The Federal Reserve System keeps inflation low and stable by -

• regulating the amount of money in the economy
• regulating the tax rate
• promoting competition
• setting prices

Decreased government spending would result in -

• a higher reserve amount
• higher prices
• lower taxes
• a lower discount rate

The _ Amendment authorizes Congress to tax our incomes.

• 1st
• 5th
• 10th
• 16th

The largest source of revenue for the federal government is  __.

• borrowing
• charging fees
• sales tax
• income taxes

The government enforces antitrust legislation to promote __.

• monopolies
• competition
• private ownership
• global  trade

In the economic flow, businesses receive money when it sell its products. What do businesses do with this money?

• Provide public goods and services
• Buy products
• Buy more resources
• Sell resources

The United States has a __ economy.

• traditional
• mixed
• free market
• command

Trading something for something else - no currency involved

• demand
• barter
• goods
• market