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government study - ch 23

Total questions: 21

Worksheet time: 11mins

Name
Class
Date
1.

which term describes the highest point

in an economic expansion?

a)

mountain

b)

government

c)

peak

d)

president

2.

a ______ occurs when the costs of

production are minimized by having

one firm produce the product.

a)

natural monopoly

b)

expansion

c)

recall

d)

workfare

3.

what is a sustained increase in the

general level of prices?

a)

rise

b)

externality

c)

exclusion

d)

inflation

4.

which term describes all civilians 16

years old or older who are either

working or looking for work?

a)

exclusion

b)

civilian labor force

c)

employee

d)

desperate

5.

According to the ____ principle, no one

is excluded from consuming the

benefits of a public good whether or

not he or she pays.

a)

logical

b)

ethical

c)

non-exclusion

d)

exclusive

6.

____ goods are goods that when

consumed by one individual, cannot be

consumed by another.

a)

private

b)

public

c)

consumer

d)

transported

7.

a ____ happens when a company

agrees to pull a product off the market

or agrees to change it to make it safe.

a)

inflation

b)

expansion

c)

contract

d)

recall

8.

what are government coupons that

can be used to purchase food?

a)

free shipping

b)

food stamps

c)

trade

d)

giveaway coupons

9.

an economic ____ occurs when real

GDP goes up.

a)

system

b)

development

c)

expansion

d)

rise

10.

the ____ principle means that a

person is prevented from consuming

private goods unless he or she pays for

them.

a)

exclusion

b)

satisfied

c)

scientific

d)

ethical

11.

____ laws are designed to control

monopoly power and to preserve and

promote competition.

a)

trade

b)

antitrust

c)

trust

d)

secret

12.

the alternating periods of economic

growth and decline make up

___________

a)

businesses

b)

inflation

c)

externality

d)

the business cycle

13.

which program gives payments to

blind or disabled people and to

persons age 65 and older?

a)

TANF

b)

SSI

c)

GDP

d)

EITC

14.

which term describes an unintended

side effect of an action that affects

someone not involved in the action?

a)

antitrust

b)

exclusion

c)

expansion

d)

externality

15.

the ____ shows an economy’s

production after the distortions of

price increases have been removed.

a)

real SSI

b)

TANF

c)

real GDP

d)

EITC

16.

supplying highways and street lighting

are examples of what role of

government in the economy?

a)

providing public goods

b)

demand

c)

providing private goods

d)

supply

17.

what is a combination of two or more

companies to form a single business?

a)

inflation

b)

combination

c)

rate

d)

merger

18.

consumption of ____ goods by one

person does not prevent them from

being consumed by another person.

a)

demand

b)

public

c)

consumer

d)

private

19.

the ____ is the percentage of the

civilian labor force who are not

working but are looking for jobs.

a)

exclusion

b)

amount

c)

employment rate

d)

unemployment rate

20.

the ____ gives tax credits and even

cash payments to qualified workers.

a)

EITC

b)

GDP

c)

TANF

d)

SSI

21.

____ requires welfare recipients to

exchange some of their labor to get

benefits.

a)

GDP

b)

workfare

c)

the business cycle

d)

merger