Government Role in Business

Taxes are required monies paid to the government to fund government spending.

• True

• False

Layla’s son had to have major surgery and he will need her care while he is recuperating. Which of the following legislative acts provides Layla the right to take unpaid leave to take care of her son?

• Privacy Act

• Americans with Disabilities Act

• Family and Medical Leave Act

•   Federal Trade Commission Act

Which of the following is an act created to protect the basic rights of consumers?

• Sherman Antitrust Act

• Securities Act

• Labor Relations Act

• Fair Packaging and Labeling Act

Select all of the following which are considered branches of the United States government.

• Executive branch

• House of Representatives branch

• Judicial branch

• Legislative branch

• Senate branch

Types of​ (a)   ​ tax include federal income tax, corporate income tax and state income tax. Federal income tax is a percentage of the ​ (b)   paid by individuals. Corporate income tax is a federal tax paid on corporate ​ (c)   ​ (d)   . _income tax is only required by some states.

• income
• total income
• profits
• state

What is the main purpose of government regulations in business?

 Creating laws to prevent businesses from harming the ______

1. What is the primary role of government regulations in business?

• a) To increase competition among businesses

• b) To eliminate all market competition

• c) To ensure fair competition and consumer protection

• d) To maximize profits for corporations

Types of Taxes:

1. 1.​ (a)  

2. 2.​ (b)  

3. 3.​ (c)  

4. 4.​ (d)  

5. ​

• income
• payroll
• property
• sales

The Executive Branch Includes

• the President of the United States

• the Vice President of the United States

• the Cabinet of the United States

• all federal governmental agencies and

  departments