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WorksheetsUnit 10 Review
Total questions: 47
Worksheet time: 23mins
How does a financial institution encourage savings?
Pay interest
Provide a safe place for you to keep your money
Give away free pizzas
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Which action best completes the graphic?
Sell real estate
Coin money
Sell home insurance
Make loans
The picture shows how financial institutions act as intermediaries between savers and borrowers by -
Discouraging saving and investing
Receiving deposits and making loans
Spending money that is deposited
Charging interest on savings
The buying and selling of goods and services by all nations in a worldwide market is called -
globalization
NAFTA
Interdependence
Megalopolis
What is one way to lower the cost of production?
Hire additional workers
Offer discount prices
Use more resources
Create new technologies
A situation where one business controls all or almost all of the sales of a product
Federal Reserve System
Corporation
Monopoly
Property Right
Paper money and coins used in a particular country.
Federal Reserve System
Antirust Laws
Financial Capital
Currency
Laws designed to prevent the formation of monopolies in business
Property Right
Antirust Laws
Human Capital
Sixteenth Amendment
A tax based on individual or family income.
W-2 Tax
Property Tax
Sales Tax
Income Tax
14th Amendment
15th Amendment
16th Amendment
24th Amendment
Define the Federal Reserve System
A tax based on individual or family income.
The central bank of the United States Government.
A business organization that facilitates the exchange of money and currency
A situation where one business controls all or almost all of the sales of a product.
Goods and services provided by the government paid for with tax dollars, like 911, public schools, parks, roads, etc.
Capital Resources
Civic Responsibilities
Public Goods and Services
Central ownership
CE 13a
Which of the following would most likely investigate this scenario?
Federal Communication Commission (FCC)
Environmental Protection Agency (EPA)
Internal Revenue Service (IRS)
Federal Trade Commission (FTC)
CE 13a
Which action represents a way that the federal government can increase business competition?
Punishing polluters
Regulating investors
Enforcing tariffs
Prohibiting monopolies
CE 13a
This tag found on a pillow, is a result of a federal law to protect the consumer. Which of the following would most likely enforce this law?
Federal Communications Commission (FCC)
Environmental Protection Agency (EPA)
Internal Revenue Service (IRS)
Federal Trade Commission (FTC)
CE 13c
Which is the best action the government can take to increase the amount of funds available to businesses?
Borrow money
Lower taxes
Balance the budget
Reduce consumer demand
CE 13b
These are referred to public goods and services because they-
Encourage cooperation between government agencies
Are funded by individuals
Are created by large corporations
Provides benefits to many simultaneously
CE 13d
This cartoon shows that the Federal Reserve System is-
The federal government's bank
Responsible for legislative purchases
The federal government's tax collector
Accountable for legislative actions
CE 13b
Which picture shows a service usually provided by the government?
CE 13e
Consumers who feel their consumer rights have been violated have the right to-
Take matters into their own hands
Take legal action
Refuse to pay for the good or service in question
Demand the government revoke a company's business license
CE 13f
What is the best title for the diagram?
Stocks and Bonds
Public Goods
Money
Barter System
All of the following are ways the government promotes competition except
collecting taxes
prohibiting (preventing) monopolies
engaging in trade
supporting new businesses
Which government agency regulates radio and tv?
Environmental Protection Agency (EPA)
Federal Trade Commission (FTC)
Federal Communications Commission (FCC)
Social Security Agency (SSA)
Participating in global trade does all the following except...
supports monopolies
provides more competition
being able to buy goods at a lower cost
being able to sell goods at a lower cost
The radio disc jockey on Z104 aired a portion of his/her broadcast that was inappropriate and against the law. Which governmental regulatory agency will most likely levy a fine and/or penalty against the radio station?
Federal Trade Commission
Federal Communications Commission
Consumer Protection Safety Commission
Federal Deposit Insurance Corporation
If the state of Virginia decided to buy and sell goods with a foreign company, which governmental regulatory agency would be required to approve the venture?
Environmental Protection Agency
Interstate Commerce Commission
Securities and Exchange Commission
Federal Trade Commission
Select all of the ways governments pay for public goods and services.
taxes
donations
fees
fines
borrowing
The government gets involved in taxing, spending, and borrowing to -
provide bureaucratic positions for citizens.
influence economic activity.
ensure all citizens are paying the same amount of taxes.
provide health insurance.
What is the FED?
Federal Reserve Rate
Federal Reserve System
Federal Bank
Federal Employment Division
Which government agency oversees investments like stocks and bonds?
FCC
FTC
EPA
SEC
FDA
Money acts as a…
(Select all answers that apply.)
debt
store of value
measure of value
medium of exchange
service
Which government agency makes the public aware of unexpected hazards of products on the market?
CPSC
OSHA
EEOC
FDA
EPA
Which government agency deals with workplace safety issues to reduce on-the-job injuries and health hazards?
CPSC
OSHA
EEOC
FDA
EPA
Which government agency studies and sets rules for everything we eat, drink, and apply to our skin?
CPSC
OSHA
EEOC
FDA
EPA
What are two key sources revenue for state governments? (Select 2.)
sales tax
property tax
income tax
Which tax is a main source of revenue for the federal government?
sales tax
property tax
income tax
What are two key sources revenue for local governments? (Select 2.)
sales tax
property tax
income tax
What does federal government revenue pay for?
(Select all answers that apply.)
national defense and homeland security
road construction
Medicare and payments to Social Security recipients
public education
interest payments on the national debt
What does state and local government revenue pay for?
(Select all answers that apply.)
public health and welfare
road construction and repair
public safety (fire and police departments)
public education
interest payments on the national debt
What does #3 represent?
(drawing on board)
government
business
individual
resource market
In the circular flow model households sell labor to firms in exchange for
rent
wages
interest
profit
The Circular Flow of the Economy ___________________
Demonstrates how money moves through the government.
Demonstrates how money moves through the factor market
Demonstrates how money moves through the household market
Demonstrates how money moves through the economy.
Goods and services are exchanged in the _____________
Product market
Factor market
Resource market
free market
In a market economy, resources are owned by households. Individuals in households take their resources to the __________
Product market
Goods and Services market
Factor market
None of the above
Land, labor, capital and entrepreneurship are _________
Natural resources
Government production
Public production
Factors of production
Government use taxes to produce
Leaders for the government
Weapons for the military
Public Goods and Services
Television Commercials
Which term completes this economic flow?
Taxes
Income
Savings
Investment
