Economics

Individuals (households) own resources used in production, sell resources for _____, and use the ______ to purchase products.

• Income

• Taxes

• Interest

• opportunity cost

________ uses tax revenue from individuals and businesses to provide public goods and services.

• Individuals

• Government

• Businesses

• Private Financial Institutions

Private Financial Institutions include all of the following Except?

• Banks, Savings and Loans, And Credit Unions

• Receive Deposits and Make Loans

• Discourage saving and investing by paying interest on deposits

• Encourage saving and investing by paying interest on deposits

Reasons why States and Nations Trade include all of the following EXCEPT

• To obtain goods and services they cannot produce efficiently themselves

• To buy goods and services at a Higher cost

• To sell goods or services to other countries

• To create Jobs

What contributes to the global flow of information, capital, goods, and services, AND lowers the cost of production?

• Taxes

• Technology

• Interest

• Income

Government promotes and regulates marketplace competition by all of the following EXCEPT

• Enforcing Antitrust legislation to Discourage Monopolies

• Engaging in Global Trade

• Supporting Business Start-ups

• Eliminating Competition

Which of the Following is NOT a Government Agency that regulates business?

• Federal Communications Commission(FCC)

• Environmental Protection Agency

  (EPA)

• Federal Trade Commission (FTC)

• Federal Emergency Management Agency (FEMA)

Ways Government pays for public goods and services (Highways, Bridges, Parks, Schools, Postal Services, Libraries, Fire and Rescue, Police, and National Defense) include all of the following EXCEPT

• Tax Revenue

• Fees

• Borrowed Funds

• Monopoly Money

Which Amendment allows Congress to tax personal and business incomes?

• 1st

• 5th

• 14th

• 16th

What is known as the Bankers Bank and the Central Bank of the U.S.?

• Federal Reserve

  (FED)

• Bank of America

• United States Central Bank

• United States Bankers Bank