Name: ______

Unit –Government and the Economy SOL: CE.13

1. How does the government promotes marketplace competition?

2. Why does the United States government enforce anti-trust laws?

3. A radio DJ used inappropriate language. Which government agency will most likely levy a fine and/or penalty against the radio station?

4. Which agency prevents air and water pollution?

5. If the state of Virginia decided to buy and sell goods with a Chinese company, which government agency would be required to approve the venture?

6. The construction and maintenance of interstate highways are an example of what kind of good?

7. Governments produce goods and services because –

8. Public goods and services are those things the government provides for us because-

9. National defense, public schools, and public libraries are all examples of –

10. The government collects taxes to –

11. The government reduces the taxes on its citizens, what effect will this have on business and private spending?

12. What is one likely way that the government can support additional spending on public programs?

13. Why does the government get involved in taxing, spending, and borrowing?

14.True or False: The Government pays for public goods and services by collecting taxes, borrowing funds, and charging fees.

15. Decrease in Demand, Decrease in Employment, Decrease in Productionmay cause the government to do what?

16. If the government reduces the taxes on its citizens, what effect will this have on business and private spending?

17. If the government raises taxes, what effect will this have on business and private spending?

18. Increased government spending increases demand which may –

19. The amendment that authorizes personal and business income tax is the –

20. The right of private property is protected by –

21. The Constitution guarantees individuals the right of private ownership. This right is protected by negotiated contracts which are enforceable by—

22.True or False: To protect consumers, federal agenciesestablish guidelines for public health and safety.

23. Kimberly buys a car and the dealership tells her it is brand new, but she later finds out the dealership misled her by altering the mileage reading on the car. What can Kimberly do to try and solve this problem?

24. If a consumer is harmed by a product, what is the consumer allowed to do as a result of laws created by the government?

25. It is often called the “Banker’s Bank”, but what is the name for the central bank of the United States?

26. What canthe Federal Reserve do to slow down the economy and keep inflation low?

27. If the Federal Reserve lowers the discount rate what should happen?

28. If the Federal Reserve lowers the reserve requirement what should happen?

29. Checks, Debit Cards, Coins, and Federal Reserve notes are all examples of what?

30. Why does the government issue money?

31. People accept coins and currency issued by the United States government in exchange for goods and services because they –

Name: ______

Unit –Government and the Economy SOL: CE.13