JES 5th Finance Unit 1

Which of the following is one role of the household sector of an economy? 

• To pay interest on bank loans

• To provide goods and services to others for a profit

• To consume goods and services

• To collect taxes for the government

Which of the following BEST describes the role of the business sector?

• To pay (finance) the government programs

• To produce goods and provides services for banks

• To supply labor for resource markets

• To produce goods and provide services

What is the role of banks in the US Economy?

• To provide loans to private businesses

• To keep money safe

• To allow taxes to be used to help public services in the community

• To provide interest payments to the elderly and retired

What is the following role of the government in the US economy?

• To provide goods and services for a profit

• To provide goods and services to those who only qualify for help

• To provide goods and services to keep our community safe and healthy

• To provide goods and services for veterans

If Joice earned her monthly income and needed to spend it on necessary fixed payments, what account would I take the money from?

• Savings, because this is used for everyday use

• Checking,

  because I need to keep my money for a long time to let it grow

• Savings, because I need to keep my money for a long time to let it grow

• Checking, because this is used for everyday use

What are the benefits of Checking Account?

• You can use it just like cash on whatever you want

• You can have the bank pay interest to your account when you don't use the money

• It gives you the right to take a loan from the bank

• It gives you the right to order the government to do special community projects

Which statement best describes the relationship between the government and private businesses?

• the business sector produces the goods and services for workers to use in a variety of programs

• The business sector funds or finances the government programs

• The business sector collects taxes for the government to use

• The business sector hires all government workers

After a loan is made, what should be expected for the household member to do each month?

• The household member should do nothing because the bank will pay for each month's installment of the loan

• The household member needs to repay the bank overtime with interest

• The household member will ask her employees and parents to pay for the loan payments

• Loans are meant to be paid by your boss

Who does the government need tax dollars from to fund services such as road construction or garbage removal?

• Banks and Households

• Local governments and banks

• Households and private businesses

• Federal Government and Households

Which sector of the Economy produces the most PUBLIC goods?

• Private businesses

• Households

• Government

• Banks