CE 13 Overview

Fill in the blank: Government provides certain goods and services that individuals and businesses acting alone cannot provide ________.

• publicly.

• privately.

• efficiently.

• independently.

Governments pay for public goods and services by -

• Through the collection of taxes

• By relying solely on borrowing

• Through printing money

• Through international aid

Fill in the blank: Income tax is based on ______ received.

• Income received

• Payment received

• Salary received

• Revenue received

What is the role of the Federal Reserve System as the nation's central bank?

• To implement and manage the nation’s money

• To print money without regulation

• To control the stock market directly

• To supervise private banks exclusively

Which of the following is a function of the Federal Reserve System?

• Regulates banks

• Influences the money supply

• Provides financial services

• All of the above

Fill in the blank: The Federal Reserve System consists of a Board of Governors and ___ federal reserve banks.

• 12

• 10

• 15

• 8

Property right legally are bonded by-

• The legal ownership through a contract

• An ethical claim without legal backing.

• A temporary permission from the government.

• An informal access right to a resource.

Which government agency is responsible for consumer product safety?

• A) OSHA

• B) CPSC

• C) EPA

• D) EEOC

Fill in the blank: Money acts as a ___ of exchange, making trade easier.

• medium

• unit

• measure

• store

Which of the following is NOT a type of money used in the United States?

• Coins

• Currency

• Barter

• Deposits in bank accounts