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2. Another term for a capitalist economic system is (Points : 2)
monopoly.
communist system.
free enterprise system.
cooperative system.

3. Which of the following is descriptive of a socialist system? (Points : 2)
Industry is nationalized.
The government distributes necessities and services to the people.
Taxes tend to be high.
All of the above.

4. In a mixed economy, (Points : 2)
individuals and corporations own the means of production, with government restrictions and regulations.
individuals do not have the right to own property.
all industry is nationalized.
All of the above.

5. When American companies have their products made, or services provided outside of the United States, it is known as (Points : 2)
exportation.
importation.
outsourcing.
warehousing.

6. What is the primary reason that the United States has increased the amount of goods it imports from foreign nations? (Points : 2)
foreign work ethic
skilled labor in foreign countries
modern transportation makes it more efficient
lower labor costs

7. In the United States, monetary policy is controlled by (Points : 2)
The Treasury Department.
The Federal Reserve System.
The Internal Revenue Service.
the Office of Management and Budget

8. Money coming in to the government is known as (Points : 2)
capital gains.
the GI bill.
revenue.
social security.

9. The major sources of money for the federal government are (Points : 2)
sale of public lands and property.
foreign aid and import taxes.
admissions to national parks and public buildings.
taxes and borrowing.

10. The program whereby taxes are deducted from employees’ checks, proceeds are put into a trust fund, and distributed to the elderly, disabled, widowed, and unemployed is know as (Points : 2)
the federal debt.
the Social Security System.
the Federal Reserve System.
the Internal Revenue Service.

11. Which of the following is descriptive of a deficit budget? (Points : 2)
It plans to have more revenue than expenditure.
It plans to have equal income and expenditure.
It plans to have more expenditure than revenue.
Taxes are required by law to balance the budget.

12. A capitalist economic system is found in (Points : 2)
the United States
Cuba
China
Sweden

13. An indicator of a healthy economy would be (Points : 2)
high deficit spending.
increasing imports from foreign countries.
an escalating consumer price index.
low unemployment and low inflation rate.

14. The law of supply and demand relates to (Points : 2)
the relative price of goods and services.
the rate of unemployment.
the income tax structure.
the campaign against consumer fraud.

15. During a period when there is an increase in the price of general consumer goods, the economy is said to be experiencing (Points : 2)
a deficit.
inflation.
outsourcing.
a mixed economy.

16. The governmental entity that directly and indirectly affects economic issues such as inflation, unemployment, and interest rates is (Points : 2)
the Internal Revenue Service.
the Office of Management and Budget.
the Federal Reserve system.
the Congressional Budget Office.

17. Money that the government owes is referred to as (Points : 2)
the federal expenditures.
revenue.
the federal budget
the federal debt.

18. Corporations and individuals are subject to the provisions of the 16th amendment that allows the government to (Points : 2)
borrow money from them.
levy a tax on their income/revenue.
raise or lower interest rates.
establish a system of social security.

19. The government’s annual plan for obtaining and spending revenue is found in (Points : 2)
the federal budget.
the State of the Union Address.
the 22nd amendment.
the Consumer Price Index

20. Between 1980 and 2005 the unemployment rate has fluctuated between 4% and 10%. The lower the rate, (Points : 2)
the less people are employed.
the more people are employed.
the greater the rate of inflation.
the greater the federal deficit.

21. Benefits paid to those who meet established eligibility requirements are referred to as (Points : 2)
interest payments.
budgetary reserves.
entitlements.
tax returns.

22. The government must bring in money to fund programs and expenses. Money that the government spends is called (Points : 2)
deficits.
revenue.
expenditures.
debts.

23. Which of the following branches/agencies of gov

1 Thought on need help with government questions need someone whos smart right know?
  1. Zyzzyx
    December 18, 2011 at 5:09 am

    This is overloaded.

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