SOL Review Game 11/12

What is the central bank of the United States that maintains the value of the U.S. currency, regulates banks, attempts to keep inflation down and acts as the federal government's bank?

• Department of Treasury

• U.S. Mint

• Bank of America

• Federal Reserve

The movement of resources, goods and services and money between households, businesses, and government in the United States economy is known as the?

• Supply and Demand

• Round Movement of Money

• Circular Flow

• Government Control

Check the 4 boxes that describe private financial institutions.

• Government's bank

• Includes banks and credit unions

• Pay interest

• Receive deposits

• Make loans

What will using technology do to the cost of production?

• No influence it at all

• Raise it

• Lower it

What are the three forms of money issued in the United States?

• deposits in bank accounts that can be accessed by checks and debit cards

• Cash

• Credit cards

• Coins

• Cars

What are the 3 reasons states and nations trade?

• The don't have enough resources to produce everything they need

• To sell goods and services to other countries

• To create jobs

• To keep everything for themselves

• They have all the resources they need so there is no need to trade

To promote efficiency and growth, the United States and Virginia ________________in the production of certain goods and services.

• Specialize

• Trade

• Promote

• Resources

Mark the 4 ways the government collects revenue.

• Imposing fines

• Collecting fees

• Taxes

• Accepts donations

• Borrowing funds

What 3 ways does the government promote marketplace competition?

• Engage in limited trade

• Support business startups

• Engage in global trade

• Specialize in weapon making

• Enforce antitrust legislation

What are payments made by individuals and corporations based on income received.

• Income tax

• Sales tax

• Property tax