Unit 11 - Key Vocabulary Review (CE.13)

What is the purpose of antitrust laws?

• To increase inflation

• To encourage the formation of monopolies

• To prevent the formation of monopolies

• To regulate currency

What is currency?

• A type of tax

• A regulatory agency

• Paper money and coins used in a particular country

• A public good

What is the Federal Reserve System?

• A type of income tax

• Central bank of the United States

• A global economy

• A public service

What is income tax based on?

• The number of public goods used

• The level of inflation

• The amount of currency in circulation

• Individual or family income

What does revenue refer to?

• A type of monopoly

• A form of currency

• Income received

• A regulatory agency

What is inflation?

• A type of tax

• A decrease in price levels

• General rise in price levels

• A form of revenue

What is a monopoly?

• A regulatory agency

• A type of currency

• A public good

• A situation where one business controls all or almost all of the sales of a product

What are public goods and services?

• A form of currency

• Goods and services provided by the government

• Goods and services provided by private companies

• A type of income tax

What is a regulatory agency?

• An agency that creates monopolies

• An agency that regulates currency

• An agency that ensures businesses operate properly

• An agency that collects taxes

What does the Sixteenth Amendment allow?

• The regulation of currency

• The creation of public goods

• The government to collect an income tax

• The formation of monopolies