Civics and Economics CE.13 Study Guide

What is one way the government promotes marketplace competition?

• By establishing monopolies

• By enforcing antitrust legislation

• By discouraging global trade

• By limiting business start-ups

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

• efficiently

• independently

• cheaply

• quickly

Which of the following is a characteristic of most goods and services provided by the government?

• They provide benefits to many simultaneously

• They are only available to individuals

• They exclude national defense

• They are not related to public schools

How do governments pay for public goods and services?

• Through donations

• Through tax revenue

• Through volunteer work

• Through barter systems

Fill in the blank: Income tax is a payment made by individuals and corporations based on _______ received.

• income

• expenses

• savings

• loans

The role of the Federal Reserve System as the nation's central bank is to:

• regulate the stock market

• control the money supply and interest rates

• manage the federal budget

• oversee state banks

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

The Federal Reserve System consists of a Board of Governors and how many federal reserve banks?

• 12

• 10

• 15

• 8

The chairperson of the Federal Reserve System is appointed by:

• The President of the United States

• The Secretary of the Treasury

• The Federal Reserve Board

• The United States Congress

A property right is:

• a legal right to use and control a resource.

• a type of government policy.

• a form of taxation.

• a method of dispute resolution.