Government Roles in Business (law)

Which of the following is NOT an agency which protects consumers?

• Consumer Price Fixing Commission

• Fair Packaging and Labeling Act

• Consumer Product Safety Commission

• Fair Credit Reporting Act

Which of the following is NOT information published by the government which businesses can use?

• Consumer spending

• Unemployment statistics

• Rate of inflation

• Forbes 40 under 40

Which of the following is NOT true of the government?

• It increases/decreases tax rates

• It negotiates international treaties and trade agreements

• It regulates the amount of money in the economy with the Federal Reserve Bank

• It controls the retirement of all U.S. citizens

Which of the following is NOT regulated by the government?

• Local employment agencies

• Private schools

• Funding for retraining of workers

• Public schools

Which of the following is true of the Federal Trade Commission?

• Prevents false/deceptive advertising

• Demotes fair competition

• Breaks up companies with control of a market

• Prevents monopolies

Sales taxes are added to the price of goods and services at the time of purchase

• True

• False

Which of the following is NOT considered a personal income tax?

• Social Security Tax (FICA)

• Federal Individual Income Tax

• National Individual Security Tax

• State Individual Income Tax

Corporate income taxes are NOT imposed by which of the following

• Foreign governments

• Universal governments

• Local governments

• State governments

Which of the following is an example of an item with excise tax

• Clothing

• Gasoline

• Produce

• Processed Snack Foods

Which of the following is the term for a special tax placed on foreign goods sold in the United States?

• Tariffs

• Excise Tax

• Customs

• Tea Tax