US Government Economics

When a US citizens calls a company to get customer support and they end up talking to someone in another country because they charge less to do the job, this is an example of:

• Import

• Export

• Outsourcing

• Diffusion

When Farmers switch to a free-enterprise system, they are growing crops:

• to eat

• to use pesticides

• to give to the government

• to make a profit

A good bought from another country

• Port

• Import

• Migration

• Export

Every Wal Mart in the United States has more than enough eggs for the people who want to buy them there. This is an example of...

• Demand

• Surplus

• Scarcity

• Famine

Economic systems are classified based on who controls the ...

• Factors of Production

• Exports

• Imports

• Prices

Which is an example of a responsibility of a U.S. Citizen?

• Pay Taxes

• The right to a fair and speedy trial.

• Due Process

• Freedom of Speech

What is the primary function of the Federal Reserve in the United States?

• To print money

• To regulate the stock market

• To control inflation and manage the money supply

• To set tax rates

Which of the following is a characteristic of a mixed economy?

• Complete government control over all industries

• No government intervention in the economy

• A combination of private and public sector involvement

• Only private sector involvement

What is the purpose of antitrust laws in the United States?

• To promote monopolies

• To encourage competition and prevent monopolies

• To regulate international trade

• To control inflation

Which government body is primarily responsible for creating fiscal policy in the United States?

• The Federal Reserve

• The Supreme Court

• The Congress

• The Department of Commerce