Chapter 16 quiz

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Reasons why the government needs to reform our economy need 5
- *Businesses have simetimes earned profits unfairly
- *Working conditions have sometimes been unsafe and inhumane
- *Unsafe products have harmed consumers
- *Not all americans have had economic security
- *The economy has been unstable
Methods used by government to prevent or correct economic problems
- Governemnt regulate buisnesses
- Governemnts make direct payments to individuals
- Governemnts own resources and produce goods and services
- Governemnts help pay for important economic ativities
- Governemtns control the amount of money they spend and the amount they recieve in taxes
Monopolies, advertising, workers, consumers, environment
- for monopolies congress created the federal trade commission
- For advertising congress outlawed "unfair or decetive practices"
- For workers the governement created the occupational saftey and health amministration
- For consumers the fegeral governement created the consumer product saftey fules for products
- For the environment the governement created environmental protection
ID and explain 2 examples of how the federal governemtn measures the source of our economy
- Inflotation- is a general rise in the price level of goods and services
- GDP- is the total dollar value of all final goods and services produced within the country in a year
List 3 sources of revenue for the federal governement

Income taxes, Excise taxes, Tariffs fees and sales
Economic deficit/ economic surplus what are they
- Economic deficit- is the amount in a year in which government spending is greater than governement income
- Economic surplus- is the amount in a year by which governement income is greater than governement spending

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jennahbug

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Chapter 16 quiz

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Updated

2011-03-22T01:07:52Z