WorksheetsGovernment's Role in Business
Total questions: 32
Worksheet time: 16mins
Which of the following is NOT true of the government?
It increases/decreases tax rates
It controls the retirement of all U.S. citizens
It regulates the amount of money in the economy with the Federal Reserve Bank
It negotiates international treaties and trade agreements
What did the Taft-Hartley Act of 1947 legalize?
Closed shops
Labor Unions
Right-to-work laws
Collective bargaining
When union representatives and management come together to discuss issues arising between employees and employers this is known as which of the following?
Featherbedding
Unionizing
Striking
Collective Bargaining
Which of the following determines the size and rate of growth of the money supply?
Open markets
Monetary Policy
Grievance procedure
Unionization
Which of the following correctly lists the three branches of government?
Executive, legislative, judicial
Judicial, administrative, and sheriffs
Administrative, legislative and sheriffs
Executive, statutory and administrative
Which of the following accurately defines tariff?
Law based on precedents established by judges decisions
A tax paid on land, structures and other property owned
A special tax placed on foreign goods sold in the United States
Law set forth by administrative agencies and commissions
The Federal Reserve seeks an unemployment rate below__ percent.
2.8
3.4
5.7
6.5
What is the term for the removal or relaxation of the rules affecting businesses within certain industries?
Regulation
Deregulation
Exertion
Inexertion
What year was the Federal Trade Commission established?
1890
1901
1915
1924
The Sherman Antitrust Act of 1890 did which of the following?
Established the Federal Trade Commission
Increased sales taxes and allowed the federal government to collect income tax.
Established the Federal Reserve Bank
Allowed the government to break up companies with control of a market
Common law is based on precedents established by judges' decisions.
True
False
The Small Business Administration provides low-cost loans, advice and other assistance to small businesses.
True
False
Reserve requirements is a regulation requiring commercial banks to keep a certain percentage of the money customers deposit on reserve each night. This money must be in the bank's vault or at the closest Federal Reserve Bank.
True
False
How does the Federal Reserve slow inflation and economic growth?
Buying securities
Stimulating economic growth
Lowering interest rates
Raising interest rates
Which of the following allows eligible institutions to borrow money from the central bank to meet reserve requirements?
Discount Rate
Reserve Policy
Discount Window
Inflation Targeting
Which type of monetary policy involves increasing the growth of the money supply?
Contractionary Monetary Policy
Expansionary Monetary Policy
Reserve Monetary Policy
Federal Monetary Policy
The Taft-Hartley Act of 1947 legalized which of the following?
Labor unions
Featherbedding
Closed shops
Right-to-work laws
When union representatives and management come together to discuss issues between employees and employers, it is known as which of the following?
Collective bargaining
Glass ceiling
Union strike
Affirmative action
Sales taxes are added to the price of goods and services at the time of purchase.
True
False
Which of the following is true of the Federal Trade Commission?
Demotes fair competition
Prevents monopolies
Breaks up companies with control of a market
Prevents false/deceptive advertising
Which of the following is NOT information published by the government which businesses can use?
Forbes 40 under 40
Rate of inflation
Unemployment statistics
Consumer spending
The government discourages competition among businesses.
True
False
Which of the following is NOT regulated by the government?
Local employment agencies
Public schools
Private schools
Funding for retaining of workers
Which of the following is NOT an agency which protects consumers?
Consumer Price Fixing Commission
Consumer Product Safety Commission
Fair Packaging & Labeling Act
Fair Credit Reporting Act
Which of the following is NOT considered a personal income tax?
Federal Individual Income Tax
State Individual Income Tax
Social security Tax (FICA)
National Individual Security Tax
Corporate income taxes are NOT imposed by which of the following?
State governments
Local governments
Foreign governments
Universal governments
Which of the following is an example of an item with excise tax?
Gasoline
Clothing
Produce
Processed snack foods
Which of the following is the term for a special tax placed on foreign goods sold in the United States?
Tea Tax
Tariffs
Excise Tax
Customs
Which of the following is NOT one of the three branches of government?
Sheriff's Branch
Executive Branch
Legislative Branch
Judicial Branch
Statutory law is written by which branch of the government?
Administrative Branch
Executive Branch
Legislative Brancgh
Judicial Branch
Where did common law begin?
France
England
Italy
Spain
Select the correct words from the two options in the underlined sections.
Monetary policy allows central banks to achieve price stability/fluctuation and help maintain economic stability/fluctuation.
1st underline:
Stability
1st underline: Fluctuation
2nd underline:
Stability
2nd underline:
Fluctuation
