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- 1. Multiple Choice
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
- 2. Multiple Choice
Which of the following is NOT regulated by the government?
local employment agencies
public schools
private schools
funding for retraining of workers
- 3. Multiple Choice
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
- 4. Multiple Choice
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
- 5. Multiple Choice
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 teh economy with the Federal Reserve Bank
it negotiates international treaties & trade agreements
- 6. Multiple Choice
The Sherman Antitrust Act of 1890 did which of the following?
established the Federal Trade Commission
increased sales taxes & 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
- 7. Multiple Choice
What year was the Federal Trade Commission established?
1890
1901
1915
1924
- 8. Multiple Choice
What is the term for the removal or relaxation of the rules affecting businesses within certain industries?
regulation
deregulation
exertion
inexertion
- 9. Multiple Choice
The Federal Reserve seeks an unemployment rate below _____ percent.
2.8
3.4
5.7
6.5
- 10. Multiple Choice
Monetary policy allows central banks to achieve price _______ & help maintain economic __________.
stability/stability
fluctuation/stability
stability/fluctuation
fluctuation/fluctuation
- 11. Multiple Choice
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
- 12. Multiple Choice
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
- 13. Multiple Choice
How does the Federal Reserve slow inflation & economic growth?
buying securities
stimulating economic growth
lowering interest rates
raising interest rates
- 14. Multiple Choice
Reserve ________ is a regulation requiring commercial banks to keep a certain ______ of the money customers deposit on reserve each night. This money must be in the bank's _____ or at the closest Federal Reserve bank.
rate/banking/branch
policy/requirements/branch
monetary/percentage/vault
requirements/percentage/vault
- 15. Multiple Choice
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
- 16. Multiple Choice
Corporate income taxes are NOT imposed by which of the following?
State governments
Local governments
Foreign governments
Universal governments
- 17. Multiple Choice
What taxes are added to the price of goods & services at the time of the purchase?
sales taxes
local taxes
user taxes
tariff taxes
- 18. Multiple Choice
Which of the following is an example of an item with excise tax?
gasoline
clothing
produce
processed snack foods
- 19. Multiple Choice
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
- 20. Multiple Choice
Which of the following is NOT one of the three branches of government?
Sheriff's branch
Executive branch
Legislative branch
Judicial branch
- 21. Multiple Choice
Statutory law is written by which branch of the government?
Administrative branch
Executive branch
Legislative branch
Judicial branch
- 22. Multiple Choice
Where did common law begin?
France
England
Italy
Spain
- 23. Multiple Choice
When union representatives & management come together to discuss issues between employees & employers, it is known as which of the following?
Collective bargaining
glass ceiling
union strike
affirmative action
- 24. Multiple Choice
The Taft-Hartley Act of 1947 legalized which of the following?
Labor unions
Featherbedding
Closed shops
Right-to-work laws
- 25. Multiple Choice
Which of the following accurately defines tariff?
Law based on precedents established by judges decisions
A tax paid on land, structures & other property owned
A special tax placed on foreign goods sold in the United States
Law set forth by administrative agencies & commissions
- 26. Multiple Choice
Which of the following correctly lists the three branches of government?
executive, legislative & judicial
judicial, administrative & sheriff's
administrative, legislative & sheriff's
executive, statutory & administrative
- 27. Multiple Choice
Which of the following determines the size & rate of growth of the money supply?
open markets
monetary policy
grievance procedure
unionization
- 28. Multiple Choice
When union representatives & management come together to discuss issues arising between employees & employers this is known as which of the following?
featherbedding
unionizing
striking
collective bargaining
- 29. Multiple Choice
What did the Taft-Hartley Act of 1947 legalize?
Closed shops
labor unions
right-to-work laws
collective bargaining
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