Chapter 23:
Government and the Economy
1.
All of the following are examples of public goods EXCEPT __________.
a.
highways
b.
street lighting
c.
clothes
d.
museums
2.
An unintended side effect of an action that affects someone not involved in the action is called an __________
a.
exclusion principle
b.
externality
c.
internality
d.
eventuality
3.
The government agency that makes sure the ingredients of makeup are labeled correctly is the __________.
a.
Occupational Health and Safety Administration
b.
Federal Trade Commission
c.
Consumer Product Safety Commission
d.
Food and Drug Administration
4.
The Sherman Antitrust Act banned __________.
a.
monopolies
b.
mergers
c.
arbitration
d.
negative externalities
5.
When real GDP goes up, the economy is in a period of __________.
a.
inflation
b.
expansion
c.
recession
d.
contraction
6.
A recession takes place when real GDP goes down for __________ straight months.
a.
three
b.
four
c.
six
d.
twelve
7.
A sustained increase in the general level of prices is called __________.
a.
elasticity
b.
recession
c.
depreciation
d.
inflation
8.
An example of a stock index is __________.
a.
the NASDAQ
b.
the New York Stock Exchange
c.
the Dow-Jones Industrial Average
d.
AMEX
9.
In general, salaries for men are __________ salaries for women.
a.
less than
b.
equal to
c.
higher than
d.
not related to
10.
The Women, Infants, and Children program provides __________.
a.
job training for mothers
b.
nutrition and health care
c.
child care for working, low income mothers
d.
shelters for low income women and their children
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Unit 1
Unit 2
Unit 3
Unit 4
Unit 5
Unit 6
Unit 7
Unit 8
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter 19
Chapter 20
Chapter 21
Chapter 22
Chapter 23
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28
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