Edmentum: Government Flashcard

Front

When a government introduces regulations addressing worker safety and environmental protection, it affects businesses and consumers. Businesses face [lower costs, higher costs, less competition, more competition] because they must alter existing infrastructure to meet regulations. As a result, consumers pay [less, more, the same] for produced goods.

Back

Businesses face higher costs because they must alter existing infrastructure to meet regulations, resulting in consumers paying more for produced goods.

Front

Which agency can help with unwanted telemarketing calls received every night at 9 p.m. from unknown companies?

Back

Federal Communications Commission

Front

What agency is responsible for requiring protective equipment for employees applying pesticide? Options: Environmental Protection Agency, Federal Communications Commission, Federal Trade Commission, Food and Drug Administration, Transportation Security Agency

Back

Environmental Protection Agency

Front

A severe water shortage recently hit country X. The government wants to ensure that drinking water remains affordable to the public. What policy or steps should the government undertake? Options: Decrease spending on water reforms, Introduce a price floor on drinking water, Increase taxes for working individuals, Introduce a price ceiling on drinking water, Increase taxes for producers of drinking water.

Back

Introduce a price ceiling on drinking water.

Front

Based on the graph, how many people are willing to work when the government of a country raises the minimum wage from $17 to $25?

Back

28

Front

Based on this graph, how many apartments are property owners willing to rent out at $520?

Back

25

Front

In the scenario where Alan increases his tenants' rent by $10 per month to cover increased property taxes, what type of tax do his tenants pay?

Back

indirect tax

Front

What type of tax did the government levy when Tim gave his house in another city to his sister?

Back

gift tax

Front

What are payroll taxes levied on? Options: a business's profits, an individual's dividend income, the wages or salaries of a company's employees, the goods and services purchased by people, a piece of land

Back

the wages or salaries of a company's employees

Front

Which statement is true?
Options:
People throughout history have used only currency notes for financial transactions.
The Reserve Banks determine tax rates.
Only the Federal Reserve can buy government securities.
The Federal Reserve affects monetary policy.
The Federal Reserve affects fiscal policy.

Back

The Federal Reserve affects monetary policy.