Question 1

The acronym EPA represents the —

Accepted Answer

Environmental Protection Agency

Answer

Energy and Petroleum Agency

Answer

Environmental Permission Agency

Answer

Energy Protection Agency

Question 2

The acronym FCC refers to the —

Accepted Answer

Federal Communications Commission

Answer

Federal Contract Commission

Answer

Federal Corporate Contacts

Answer

Federal Commerce Committee

Question 3

The United States government provides the following services EXCEPT —

Accepted Answer

satellite radio

Answer

interstate highways

Answer

postal service

Answer

national defense

Question 4

Products and services that are used by everyone and are provided by the government
are called —

Accepted Answer

public goods

Answer

private goods

Answer

private policy

Answer

public policy

Question 5

Increased government spending on public goods and services —

Accepted Answer

increases demand

Answer

decreases production

Answer

lowers taxes

Answer

decreases demand

Question 6

When the government lowers taxes —

Accepted Answer

consumers have more money to spend

Answer

international trade decreases

Answer

national resources are depleted

Answer

national wealth decreases

Question 7

What is the main job of the Federal Reserve?

Accepted Answer

Maintain the value of the dollar

Answer

Regulate business

Answer

Regulate spending

Answer

Regulate taxes

Question 8

One goal of the Federal Reserve is to —

Accepted Answer

ensure the stability of the banking system

Answer

increase the value of other currencies

Answer

increase income taxes

Answer

keep inflation high

Question 9

What is the central bank of the United States called?

Accepted Answer

Federal Reserve

Answer

National Savings and Loan

Answer

Federal Bank

Answer

National Credit Union

Question 10

All of the following are types of money used in the United States EXCEPT —

Accepted Answer

Federal Reserve bank

Answer

accessible bank deposits

Answer

coins

Answer

currency

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