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Civics and Economics Strand Test:United States Economy
The Role of Government in the Economy
Jason Baldwin, Middle School CoordinatorAccomack County Public Schools
Summer 2008
CE.10aAn individual who has succeeded in business by taking
risks is known as—
a lawye
r.
an accountant.
a philanth
ropist
.
an entrepre
neur.
25% 25%25%25%
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A. a lawyer.B. an accountant.C. a philanthropist.D. an entrepreneur.
CE.10aA business organization run solely by one individual
who assumes all risks and earns all profits is a—
corp
oration.
ventu
re ca
pitalis
t.
partnersh
ip.
proprie
torsh
ip.
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A. corporation.B. venture capitalist.C. partnership.D. proprietorship.
CE.10aWal-Mart is an example of a—
sole pro
prieto
rship.
corp
oration.
corp
orate partn
ership.
business
partnersh
ip.
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A. sole proprietorship.B. corporation.C. corporate
partnership.D. business
partnership.
CE.10cIn a savings and loan bank, who owns the institution?
Credito
rs
People who have sh
ares
The govern
ment
A bank p
resid
ent
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A. CreditorsB. People who have
sharesC. The governmentD. A bank president
CE.10cIn what way do financial institution encourage people
to invest and save money?
Givi
ng finan
cial a
dvice
Paying intere
st on deposit
s
Givi
ng car lo
ans
Offerin
g competitive in
t...
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A. Giving financial advice
B. Paying interest on deposits
C. Giving car loansD. Offering competitive
interest rates on loans
CE.11aWhich government regulatory agency was developed
during the Nixon administration?
Federal C
ommunication...
Enviro
nmental Pro
tecti..
Nucle
ar Regu
latory
Com...
National R
ifle Asso
ciation
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A. Federal Communication Commission
B. Environmental Protection Agency
C. Nuclear Regulatory Commission
D. National Rifle Association
CE.11aIf Virginia wanted to buy and sell goods with a Chinese company, which governmental regulatory agency would have to approve the venture?
Enviro
nmental Pro
tecti..
Inte
rstate Commerce
C...
Secu
rities a
nd Exchang...
Federal T
rade Commission
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A. Environmental Protection Agency
B. Interstate Commerce Commission
C. Securities and Exchange Commission
D. Federal Trade Commission
CE.11bThe government collects taxes to—
encoura
ge in
vestments.
provid
e public goods a
n...
jumpsta
rt a s
luggish
ec...
provid
e salarie
s for p
oliti...
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A. encourage investments.
B. provide public goods and services.
C. jumpstart a sluggish economy.
D. provide salaries for politicians.
CE.11cWhen the government increases its spending without
adequate resources, what is most likely to occur?
Incre
ase in
taxes
No ch
ange in ta
xes
Decre
ase in
taxe
s
Debt r
eduction
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A. Increase in taxesB. No change in taxesC. Decrease in taxesD. Debt reduction
CE.11cThe government get involved in taxing, spending, and
borrowing to—
provid
e bureaucra
tic pos..
.
influence
economic
activ..
.
ensure
all c
itizens a
re pa...
to pro
vide jobs.
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A. provide bureaucratic positions for its citizens.
B. influence economic activity.
C. ensure all citizens are paying the same amount of taxes.
D. to provide jobs.
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