Government Policy

income tax
excise tax
import tariffs
All of the above raise revenues for which of the following governing bodies?

Using the Internet, Sally can conduct business with people all around the world without leaving her office. She now can complete her sales transactions, using the Internet, in one week instead of the month it previously took her to travel to those international companies. Sally saves not only time but also money by eliminating expensive air travel.
The outcome of scenarios such as that above would MOST likely lead to —

The role of government in regulating the free enterprise system has changed over time. All of the following are roles the government has embraced EXCEPT—

International trade allows a nation to shift its production possibility curve ________ and have __________ goods and services, ___________ adding additional resources, __________ new technology, simply using F__________ more efficiently.

Which step is missing from the problem solving process?

The unemployment rate has risen to 9.7%. The Gross Domestic Product (GDP) is declining along with the Consumer Price Index. It would appear this country is in a deep recession or early depression.
What would be the best way to get more money into the economy?

Which of the following belongs in Section III of the Venn diagram on your test paper?

Characteristics of an economic expansion include all of the following EXCEPT—

Which of the following would likely accompany economic growth?

Where in the Constitution is the authority given for the United States government to tax its citizens?

defense
international aid
net interest on the debt
Medicare
Which of the following best categorizes the above list?

How does the Occupational Safety and Health Administration (OSHA) benefit the public?

The federal government employs a(n) _____________ policy during a recession which involves increasing government
spending or decreasing taxes or a combination of the two. During a period of inflation, they use a(n) _____________ policy involving decreasing spending or increasing taxes or a combination of the two.

How do new technologies in manufacturing most affect economic
growth?

Use the chart and your knowledge of economics to answer the following question.
Use the changes in the chart to explain which time periods you believe the wealth of the United States increased or decreased and what likely happened to inflation as a result of these
changes. Include a discussion of how GDP is related to both inflation and national wealth. Be sure to use proper economic terminology.